IDB Invest, a member of the Inter-American Development Bank (IDB) Group, announces its support of the Task Force on Climate-related Financial Disclosure (TCFD). It joins more than 800 entities involved in identifying and mitigating the financial risk related to climate change. The disclosure will be made for the first time in the IDB Invest Annual Report 2019.

Since 2017, the institutions, companies and investors that adhere to the TCFD share a common vision: climate change affects the performance of investment portfolios and knowing how to mitigate risk is essential to continue growing. The London-based TCFD secretariat generates information and tools for the market to make voluntary, comparable and consistent financial disclosures, regarding the risks and opportunities arising from climate change.

Both mitigation and adaptation to climate change are strategic priorities for the investment and advisory activities of IDB Invest. Since 2016, IDB Invest doubled its climate financing and, of this amount, increased resources up to 40 percent for projects aimed at adaptation. Through its commitment to climate finance, IDB Invest supports the reduction of transition risks for the low carbon economy and physical risks to climate change.

By being part of the group of entities that support the recommendations of the TCFD, IDB Invest strengthens its ability to assess and manage climate-related risks and opportunities in financial markets. At the same time, it fulfills its mission of generating sustainable growth with the private sector of Latin America the Caribbean.

The TCFD was created in 2015 by the Financial Stability Board and is an international body that is part of the G20, with the objective of defining recommendations for the management of risks arising from climate change.

About IDB Invest
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a portfolio of assets of $12.4 billion under management and 342 clients in 24 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the needs of its clients.