GFANZ’s Latin American and Caribbean Network will work with local financial institutions to accelerate efforts to unlock climate financing in the region, and this includes supporting financial institutions in planning the transition, implementing climate goals, capacity building and the participation of policymakers in actions to accelerate capital mobilization.

It will also be guided by an Advisory Council, composed of leading figures in climate and financial matters of the region, which will provide strategic direction, guidance and experience in the supervision of the work plan and the results of the Network.

On the other hand, throughout the year the Advisory Council will have the participation of more experts to achieve a balanced representation in Latin America and the Caribbean and reflect the various perspectives of the economies of the region.

According to Michael R. Bloomberg, Co-Chair of GFANZ, helping more financial institutions create viable plans to achieve their net zero emissions commitments is a fundamental next step in the global fight against climate change.

“The launch of this GFANZ Latin American and Caribbean Network will accelerate work in a part of the world with a vast renewable energy potential. Together with local partners, we can mobilize even more capital for clean energy projects in this important region,” he said.

Meanwhile, Mark Carney, Co-President of the GFANZ, mentioned that this is an important milestone that will ensure that regional priorities are reflected in global work, while the tools can help local financial and policy makers accelerate the transition.

“A growing number of financial institutions around the world are recognizing the importance of addressing climate change, which is driving the continued growth of GFANZ. We will continue to build our regional networks to help them comply,” Carney said.