The EU-LAC Foundation presented in Brussels Policy Brief No. 14 “Innovative Initiatives for Climate Finance in EU–LAC Cooperation” to representatives of CARIFORUM member countries.
Authored by Dr. Keith Nurse, the document analyses the persistent financing gaps faced by Latin America and the Caribbean (LAC) — a region responsible for only 6.7% of global greenhouse gas emissions, yet among the most severely affected by climate change.
The Policy Brief identifies major challenges, including limited adaptation funding, complex access criteria and institutional capacity constraints. It also highlights innovative financing mechanisms that could be scaled up through bi-regional cooperation, such as parametric insurance schemes (CCRIF SPC), green and sustainability bonds, blended finance facilities, and debt-for-climate swaps, alongside emerging instruments like carbon pricing and Integrated National Financing Frameworks (INFFs).
The meeting brought together ambassadors and representatives from Bahamas, Barbados, Belize, Cuba, Grenada, Guyana, Haiti, Jamaica, the Dominican Republic, Suriname and Trinidad and Tobago, fostering a constructive exchange on how to strengthen climate finance mechanisms relevant for the Caribbean in the context of the upcoming IV EU–CELAC Summit and the broader bi-regional partnership.
The Policy Brief emphasises that the IV EU–CELAC Summit, to be held in Santa Marta, Colombia (9–10 November 2025), offers a crucial opportunity to deepen the strategic partnership between both regions. It calls for transforming the global climate finance architecture, expanding access to innovative tools, strengthening institutional capacity and promoting just and inclusive transitions towards a climate-resilient future.
