IDB approves $300m loan for Costa Rica’s decarbonisation
The Inter-American Development Bank (IDB) will back Costa Rica’s National Decarbonisation Plan, which aims for net-zero emissions by 2050.
Chilean carbon market takes slow walk into next phase
Political uncertainty are hindering efforts to overhaul Chile’s $5/t CO2 tax with offsetting provisions and a tradable market instrument.
Petrobras signs first $1.25Bn sustainability loan
The credit line, struck with Bank of China, MUFG and Bank of Nova Scotia, is tied with the firm’s reduction targets in GHG intensity in E&P and refining.
Brazil recognises Paris Agreement as human rights treaty
The Brazilian Supreme Court is the world’s first constitutional court to do so, a move which could inspire a global movement for other courts to follow.
Colombia to ban production of new fossil fuels
Newly-elected President Gustavo Petro pledges to ban production, in move to make Colombia the largest fossil fuel producer to do so.
Brazil to quicken carbon market launch
Brazil plans to issue a decree this month to create a carbon market, rather than wait for legislation to be approved in congress.
Carbon credit stock exchange to launch in Rio
Rio de Janeiro is launching a stock exchange for carbon credits and sustainable assets and signed a protocol of intent with Nasdaq.
Chile prices first sovereign sustainability bond
Chile has become the first sovereign to print a sustainability-linked bond (SLB).
Indigenous Guatemalan demand sovereignty over oil
The case could set an international precedent for indigenous people to control resources on their land.
Major Brazilian coal mine license suspended
The Federal Justice decision was granted as a response to a request from local Indigenous and environmental organizations.
Brazil stops monitoring deforestation in Cerrado
The Brazilian government announced that it would stop monitoring deforestation in the Cerrado region.
Chile rewrites constitution for climate change
The South American country of Chile is currently writing a new constitution to tackle a "climate and ecological emergency."
Investors and food retailers failed to divest from Brazil over deforestation
Several European investment groups that last year threatened to divest from Brazil over soaring deforestation have not done so, even as new figures show the pace of destruction of the…
Brazil’s Amazon deforestation surges to 15-year high, undercutting government pledge
Deforestation in Brazil's Amazon rainforest soared 22 per cent in a year to the highest level since 2006, undercutting President Jair Bolsonaro's assurances that the country is curbing illegal logging.
Brazil’s banks to add climate change risks into stress tests
Brazil's central bank announced new rules making it mandatory for banks to incorporate climate change-related risks into stress tests, starting in July 2022.
Brazil’s banks to add climate change risks into stress tests
Brazil's central bank announced new rules making it mandatory for banks to incorporate climate change-related risks into stress tests, starting in July 2022.
Conservationists back indigenous peoples’ call to protect 80% of the Amazon by 2025
The world congress of the International Union for the Conservation of Nature overwhelmingly voted for a global pact to protect the Amazon.
Denmark, Costa Rica call for Beyond Oil and Gas Alliance
The two countries are reportedly launching an alliance of nations that are committed to setting a date to phase out both fossil fuel production and use.
ecosecurities and Hartree launch $1.5b restoration effort
Hartree Partners and ecosecurities announced an estimated $1.5b project to work with local farmers, landowners, associations, co-operatives, and NGOs in the Cono-Sur region of Latin America.
Brazil to invest $4b in coal
The Mines and Energy Ministry has published a “programme for the sustainable use of national mineral coal”, which aims to leverage $3.9b in coal.
Costa Rica to ban fuel extraction and exploration
Costa Rican officials will set out a bill this week that permanently prohibits fossil fuel exploration and extraction.
Brazil central bank pressures banks to hew to greener line
Brazil's central bank is preparing to require banks to account for potential losses from climate change-related phenomena in stress tests.
Offsets allegedly used in Colombia to avoid carbon taxes
According to Carbon Market Watch, large-scale forest protection schemes in the Colombian Amazon overstate their impact on preventing deforestation.
UK-India deepen work on climate change on the road to successful COP26
The UK and India agreed on a joint roadmap that includes new collaboration on clean energy transition and protecting forests, and joint leadership to develop resilient infrastructure in climate vulnerable…