Green Innovative Finance for Latin America and the Caribbean 

The Green Innovative Finance for LAC (GIF 4 LAC) initiative, funded by the Swedish International Development Cooperation Agency (SIDA), is one of UNDP's efforts to promote the mobilization of green finance in the region and accelerate the implementation of national and regional climate and environmental plans. The initiative seeks to build evidence and gather experiences from actors across sectors to make more strategically informed decisions on investment priorities and to promote green finance for a more resilient region that leads the way for change.  

BIOFIN - The Biodiversity Finance Initiative 

The BIOFIN initiative, launched by UNDP at COP10 of the Convention on Biological Diversity, addresses the urgent need for biodiversity financing. It is a global collaboration aimed at developing and implementing evidence-based methodologies to enhance biodiversity outcomes through better financial management and increased resource mobilization. BIOFIN supports countries to identify financial gaps and create Biodiversity Financing Plans. 

Key Latin American and Caribbean countries, including Chile, Costa Rica, Cuba and Peru, have been pioneers in using this approach, mobilizing approximately USD 948 million for biodiversity. Starting in 2024, 19 additional countries in the region will develop their own financing plans with Global Environment Facility funding and technical support from BIOFIN. The initiative promotes integrating biodiversity into financial planning, for effective conservation, restoration, and equitable benefit distribution from biodiversity resources. 

ACCESS - Accelerating Access to Low Carbon Urban Mobility Solutions through Digitalization 

In Latin America and the Caribbean, 39% of GHG emissions come from the transport sector, higher than the global average of 22%. Transport is a significant emission source due to the large size of many LAC countries, high motorization rates, and fossil fuel-driven motor vehicle fleets. ACCESS is a joint program of nine organizations led by UNEP aiming to reduce greenhouse gas emissions from transport in urban areas in Argentina, Brazil, Colombia, Ecuador, Mexico, and Peru by accelerating access to low-carbon urban mobility solutions through digitalization. UNDP will mainly lead the implementation of activities related to the application of Digital Readiness Assessments of the transport sector, a methodology to provide insights into a country’s digital strengths and opportunities and provide technical support on national transport policies.