CAF will invest USD 2,000 million to protect the Amazon
December 07, 2023
This investment announced at COP28 will contribute to preserving one of the most important strategic ecosystems on the planet and consolidating it as a global solution biome. Among the actions that will be carried out, the management of protected areas, the development of productive chains, the promotion of sustainable tourism and resilient Amazonian cities, the generation of knowledge and the coordination between the countries and local communities that make up the Amazon stand out.
During COP28, CAF - development bank of Latin America and the Caribbean - announced an investment of USD 2 billion until 2030 to contribute to a sustainable, inclusive, equitable and climate-resilient Amazon. These funds are part of the institution's commitment to becoming the green bank of the region and promoting the protection and development of its strategic ecosystems, key to the environmental sustainability of the planet.
The Amazon has 6.7 million km2 of forests and one million km2 of riparian ecosystems. It is the largest tropical forest in the world, it maintains approximately 20% of the total carbon contained in the world's terrestrial vegetation, it is home to a quarter of terrestrial species and about 15% of terrestrial photosynthesis. This is a pressured and threatened biome, which needs sustainable, inclusive, equitable and resilient development models.
CAF funds will be used to strengthen the management of protected areas and their connectivity for the conservation of biodiversity; promote the bioeconomy and sustainable, inclusive, resilient and regenerative tourism; promote resilient, low-carbon and inclusive Amazonian cities; improve the living conditions of Amazonian residents; and actively work with the Green Coalition of Development Banks for the Amazon to achieve continuous and sustainable financing in the region.
“The Amazon is a global public good, and it is our responsibility to take actions to protect and enhance it at a social, environmental and economic level. At CAF we are doing our part to consolidate the Amazon as a strategic ecosystem that provides global solutions to climate change, both at the level of preservation, adaptation and resilience. To do this, we need to generate agreements and consensus with the governments of countries, local communities, international organizations, financial institutions and social actors,” said Alicia Montalvo, manager of Climate Action and Positive Biodiversity at CAF.
CAF's approach to the Amazon is focused on promoting innovation, knowledge and research, supporting the design of public policies and coordinating efforts at the regional level. Furthermore, it is articulated in five lines of action: preserving biodiversity; promote productive sectors; build sustainable infrastructure and offer quality basic services; empower local communities; and mobilize financing.