Project profile — Canadian Climate Fund for the Private Sector in the Americas II

• Costa Rica (0.00%)
• Colombia (0.00%)
• Nicaragua (0.00%)
• Brazil (0.00%)
• El Salvador (0.00%)

• West Indies, regional (19.00%)
• North and Central America, regional (31.00%)
• South America, regional (50.00%)

• Transport And Storage: Public transport services (21012) (1.00%)
• Energy conservation and demand-side efficiency:
Energy conservation and demand-side efficiency (23183) (10.00%)
Energy generation, renewable sources - multiple technologies (23210) (10.00%)
Hydro-electric power plants (23220) (5.00%)
Solar energy (23230) (45.00%)
Wind energy (23240) (15.00%)
Biofuel-fired power plants (23270) (2.00%)
• Heating, Cooling And Energy Distribution: Electric power transmission and  distribution (23630) (1.00%)
• Agriculture: Agricultural development (31120) (10.00%)
• Forestry: Forestry development (31220) (1.00%)

• Indigenous Issues (not targeted)
• Biodiversity (not targeted)
• Environmental sustainability (cross-cutting) (principal objective)
• Disability (not targeted)
• Gender equality (significant objective)
• Children's issues (not targeted)
• Desertification (not targeted)
• Urban issues (not targeted)
• Participatory development and good governance (not targeted)
• Climate change mitigation (principal objective)
• Climate Change Adaptation (significant objective)
• Trade development (not targeted)
• ICT as a tool for development (not targeted)
• Youth Issues (not targeted)
• Nutrition (not targeted)
• Disaster Risk Reduction(DRR) (not targeted)

The Canadian Climate Fund for the Private Sector in the Americas II (the Fund) aims to catalyze private sector investments in climate change mitigation and adaptation across the Latin America and Caribbean region, while promoting gender-responsive, sustainable economic development. The Fund is managed by the Inter-American Development Bank (IDB) and implemented by the Inter-American Investment Corporation (IDB Invest), which together are referred to as the IDB Group. The Fund co-finances the IDB Group’s private sector climate mitigation and adaptation projects in Latin America and the Caribbean that need concessional financing to be viable. It offers lower-cost, longer-term and higher-risk loans when they are needed to jump-start a project. Projects supported by the Fund may include renewable energy, energy efficiency, agriculture, forestry, greenhouse-gas emission reduction projects, as well as adaptation projects to reduce climate change vulnerabilities. This project aims to help developing countries transition to low-carbon, sustainable and resilient economies.

The expected outcomes for this project include: (1) the reduction of greenhouse gas emissions; (2) reduced vulnerability of businesses, communities, livelihoods and infrastructure to the adverse effects of climate change; and (3) enhanced participation by women in climate mitigation and adaptation-relevant sector or activities.

Results achieved as of December 2023 include: (1) approved 12 climate change projects that have mitigated 2.4 million tonnes of greenhouse gas emissions in Brazil, Colombia, Costa Rica, El Salvador, Guatemala, Guyana, Nicaragua, Panama, and 1 regional project in the Caribbean; and (2) created a performance-based incentive program to encourage the private sector to create an inclusive corporate culture. The program provides employment opportunities for women in the science, technology, engineering and mathematics (STEM) fields, where women are traditionally under-represented.

• Proactive disclosure