9th Latin American and Caribbean Carbon Forum concludes

September 12, 2015

Santiago de Chile, 11 September 2015 – The 9th Latin American and Caribbean Carbon Forum (LACCF 2015) concluded today in Santiago de Chile, where key business and government representatives from across the region discussed the use of market-based mechanisms and other forms of carbon pricing and climate finance. The Forum called for their inclusion as mitigation and development tools in the new global climate deal expected from Paris at the end of this year.

Following the recent negotiations that took place in Bonn where Parties clarified many issues and the way forward for negotiations before Paris, the Forum showcased successful examples of the use market-based approaches such as the CDM, innovative financial instruments, carbon pricing policies and mechanisms which have fostered climate finance deployment in the region, and reiterated their need to be able to continue using them in the long term.

Having a stronger and shared understanding of the enabling policy conditions and business actions that are required to move toward carbon neutral economies in the LAC region, participants underscored the need for ongoing exchanges and collaboration.

Countries are currently preparing and submitting their Intended Nationally Determined Contributions (INDCs) in advance of Paris. In this context, and since INDCs will be revised over time to increase climate ambition, climate finance and market-based mechanisms are key to achieving the carbon neutrality goals that the world is striving for by the end of the century, participants at LACCF 2015 heard.

Bridging the gap between public and private sector actions was praised as a prime opportunity to leverage the climate finance required to fight climate change in the region.

The LAC region is committed to preserving its natural resources and protecting its environment by building a resilient and decarbonized future for itself and the world. The region thus aims for a low-carbon development pathway, and it clearly emerged from this Forum that no tool or means shall be neglected in the Paris agreement to reach this objective.

The wealth of methodologies and experiences that were developed by the CDM were recognized as an important tool and a solid model to monitor, report and verify emissions.

The Economic Commission for Latin America and the Caribbean (ECLAC) and the government of Chile hosted the LACCF 2015 in Santiago de Chile from 9 to 11 September. This year’s Latin American and Caribbean Carbon Forum attracted over 400 participants from 48 countries, senior officials, policy-makers, project developers and investors, and built on the success of last year’s forum in Bogotá, Colombia.

This conference was jointly organized by the secretariat of the United Nations Framework Convention on Climate Change (UNFCCC), the World Bank Group, the Latin American Energy Organization (OLADE), the International Emissions Trading Association (IETA), the United Nations Environment Programme (UNEP), the UNEP DTU Partnership, United Nations Development Programme (UNDP), the Inter-American Development Bank (IDB), and CAF development bank of Latin America (CAF).

“The LACCF for the last 9 years has provided a valuable platform to discuss issues of Low Carbon development in the Latin American and Caribbean (LAC) region. This year’s Carbon Forum has sent a very positive message about the readiness of countries in the LAC region to make significant contributions to a new global climate agreement in Paris in December. Many countries have already taken domestic action in areas such as carbon pricing policies, expansion of Renewable Energy supply, and increased focus on efficient public transportation. In addition, there has been broad political and public engagement in the process of preparing INDCs in several countries”, said John Christensen, Director, UNEP DTU Partnership.