Global Infrastructure Summit Highlights Climate-Smart PPPs for Sustainable Development
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Andrea Betancourt from Global Infrastructure Basel Foundation (GIB) represented the FAST-Infra Label Secretariat at the PPPAmericas Global Infrastructure Summit focusing, speaking at a crucial panel on "Climate-smart structuring" in the Public Track. The virtual event brought together esteemed experts in the field to address pressing issues related to climate change and infrastructure development.
Panelists from various organizations graced the event, including Fernando Pieroni from the Semeia Institute, Michelle Young representing the Development Bank of Jamaica, and Andrea Betancourt from the Global Infrastructure Basel Foundation (GIB). The panel was skillfully moderated by Juan Pablo Bonilla from the IDB. The primary focus of the discussion was on building a portfolio of climate-smart infrastructure projects to bolster infrastructure investment, tackle climate change impacts, and foster replicable PPP (Public-Private Partnerships) models across Latin American and Caribbean (LAC) countries. It is projected that by 2050, LAC nations will bear annual climate change-related costs equivalent to 2-4 percent of their GDP, emphasizing the urgency of integrating climate considerations into evolving PPP models.
The panelists emphasized the significance of PPPs as they encourage private sector innovation and provide a balanced allocation of risk between private and public actors. By incorporating climate change issues into PPP models, it becomes possible to create synergies between infrastructure development and environmental conservation. Throughout the discussion, the panelists shared key insights and successful case studies from the region and beyond, highlighting the transformative potential of sustainable PPPs in traditional sectors. The need to create climate-smart infrastructure and foster resilient partnerships was underscored, aiming to mitigate and adapt to the adverse effects of climate change while creating a positive impact on the environment. Andrea Betancourt shared how the FISI label could help governments embed sustainability requirements in an efficient manner into their tendering processes, whilst ensuring that sustainability, climate change adaptation and resilience criteria are embedded into infrastructure projects from the planning stages.
The event brought together stakeholders, policymakers, and experts to lay the groundwork for collaborative efforts in the region's infrastructure development journey. With climate change looming as a formidable challenge, the discussions and ideas put forth in this panel contribute significantly to shaping the future of climate-smart infrastructure projects in LAC countries.
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