International. The Inter-American Development Bank (IDB) committed $2.8 billion in 2013 to projects addressing climate change, sustainable energy and environmental sustainability, according to its Annual Sustainability Report.
That figure represents 20 percent of the Bank's total loans approved last year, putting the IDB on track to meet its 25 percent target by 2015. The Sustainability Report was published in the context of the IDB's Annual Meeting, which this year was held in Costa do Sauipe, Brazil.
According to the IDB, the Latin American and Caribbean region faces major challenges in protecting its environment and in the fight against climate change. For example, electricity demand is expected to double by 2030 and annual damage from natural disasters is expected to amount to $3.6 billion.
The new Infrastructure Strategy balances environmental, social and fiscal concerns, and is consistent with the Bank's existing strategies, including the IDB's Integrated Strategy for Climate Change Mitigation and Adaptation, and sustainable and renewable energy.
Last year, more than a million people had access to low-carbon means of public transport. 60% of the energy generated by IDB-supported projects was derived from low-carbon sources.
