United Nations Environment Programme Finance Initiative launches COP30 guidance on just transition for Latin American and Caribbean banks and insurers

The United Nations Environment Programme Finance Initiative (UNEP FI) has published new guidance for banks and insurers operating in Latin America and the Caribbean on embedding a “just transition” into their institutions, integrating climate, social and human rights considerations across strategy, governance, internal operations, and product and service development. The report draws on input from 16 LAC-based UNEP FI member institutions and 17 advisory institutions spanning academia, multilateral development banks and civil society. It sets out practical approaches such as designing financial solutions that advance climate action while promoting social goals, strengthening mechanisms to prevent and mitigate negative social impacts from the transition, and engaging local stakeholders including Indigenous Peoples, who represent nearly 10% of the region’s population but receive less than 1% of direct climate finance. The guidance was developed in Spanish to reflect regional realities, and UNEP FI has also published an executive summary in English and Portuguese.