A collaborative project between the Inter-American Development Bank (IDB), UN Environment Programme (UNEP), Acclimatise, and the UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC), has explored the barriers to, and opportunities for, increasing private-sector uptake of NbS in the infrastructure sector in Latin America and the Caribbean.
While the value of Nature-based Solutions (Nbs) to society is well understood, particularly by the conservation community, the adoption of NbS for sustainable infrastructure in Latin America and the Caribbean (LAC) remains low. At a time where infrastructure investments are crucial in keeping up with economic and population growth, it is especially vital that LAC explores multifunctional solutions, like NbS, to help build climate-resilient infrastructure in the face of a changing climate.
Four findings have emerged and include:
- NbS needs to be better mainstreamed into policy, legislation, and regulations
- Project developers in LAC require additional skills, methodologies, tools, and capacity to incorporate NbS into infrastructure projects
- Defining the business case is an important first step to build support and secure finance for NbS projects in LAC
- There is a need to improve the conditions and scalability of financial instruments suitable for NbS investment in LAC
The project collaborators agree – coordinated action by all those involved with infrastructure development, including policy makers, project developers and financial institutions, is needed to create the enabling conditions for private sector uptake of NbS.
Acclimatise’s Amanda Rycerz authored the report and recently led a panel discussion event ‘Scaling Private Sector Uptake of Nature-Based Solutions for Climate Resilient Infrastructure’ at the United Nation’s Climate Change Conference (COP25). Additionally, she produced an infographic highlighting the benefits of adopting Nbs solutions.