CABEI reaffirms its leadership in climate finance and sustainability during COP29 in Baku

Baku, Azerbaijan, 20 November 2024 - A delegation from the Central American Bank for Economic Integration (CABEI) actively participated in the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC), reaffirming its commitment to sustainability and climate action in Central America.

The CABEI team, made up of representatives from the Office of Social and Environmental Sustainability, the Project Formulation Department and the Investment and External Financing Department, participated in various high-level activities, such as technical panels and strategic meetings.

CABEI Executive President Gisela Sanchez noted: "COP29 has reaffirmed CABEI's commitment to sustainability and climate action, consolidating us as a key ally in mobilizing resources for resilient development in Central America." He added: "We will continue to collaborate closely with our strategic partners to implement innovative solutions that strengthen the social, economic and environmental well-being of our region".

Among the most relevant moments of CABEI's participation, the following stand out:

• Participation in key Side Events: CABEI had an outstanding presence at events organized by strategic partners such as the Inter-American Institute for Cooperation on Agriculture (IICA), Development Bank of Latin America (CAF), the International Development Finance Club (IDFC), the UNFCCC and the El Salvador Pavilion. These spaces allowed the Bank to share its experience on issues such as climate finance, biodiversity and resilience strategies for the region.
• Bilateral meetings with key partners: Important meetings were held with CABEI's strategic allies, such as the Green Climate Fund (GCF), the Adaptation Fund, German Development Bank (KfW), the Taiwan International Development Cooperation Fund (TaiwanICDF), the European Union and the Global Green Growth Institute (GGGI). At these meetings, new opportunities for collaboration and financing for transformative projects in Central America were explored.
• Exploration of alliances with new partners: The delegation is also meeting with potential partners such as Conservation International, the Luxembourg Development Agency (LuxDev), the Asian Infrastructure Investment Bank (AIIB), the Caribbean Development Bank (CDB), and the AVINA Foundation, strengthening the network of strategic allies to advance biodiversity conservation projects, nature-based solutions and climate finance.

CABEI also provided perspectives on the integration of economic considerations in Nationally Determined Contributions (NDCs) and on the role of strategic ecosystems as climate adaptation solutions in Latin America.

CABEI reaffirms its commitment to lead in the region through the design and implementation of initiatives that promote a sustainable future for Central America.