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Latin America

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Despite difficult negotiations in Lima, discussions signaled the positive outlook among development banks for expanding climate finance in Latin America and the Caribbean.

With increasing low-carbon investments, pledges to the Green Climate Fund, and ambitious renewable energy and efficiency targets demonstrate robust political and financial commitments, building momentum for a strong global response to climate change.

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Peru was recently awarded €9 million ($11.14 million) for its urban transport Nationally Appropriate Mitigation Actions (NAMA) by the German and British NAMA facility.

This climate finance award will allow the Peruvian government to leverage $50 million from development aid agencies—especially KfW, the Inter-American Development Bank (IDB), and CAF Development Bank of Latin America—and much more from the private sector.

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Between 2001 and 2012, Latin America and the Caribbean lost 36 million hectares of forest and grassland to agricultural expansion, and nearly half of the region's greenhouse gas emissions are the result of land-use change, forestry, and agriculture. So there’s a clear solution to curbing climate change in the LAC region—restore life to its degraded landscapes.

That's where Initiative 20x20 comes in.

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Bringing 20 million hectares of degraded land in Latin America and the Caribbean into restoration by 2020.

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A U.N. working group of 70 member states recently adopted a proposed set of Sustainable Development Goals (SDGs) to succeed the U.N.’s Millennium Development Goals (MDGs) set to expire in 2015. The “post-2015” SDGs will aim to eradicate extreme poverty by 2030 while also supporting inclusive economic development and environmental sustainability. While the proposal puts forward a plethora of targets for the international community to pursue between 2015 and 2030, it leaves out a critical component of improving rural livelihoods—securing community land rights.

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