Toward Enhanced Climate Ambition: Transparency and Digital Governance in Latin America and the Caribbean

Climate data governance is a key step in taking advantage of the opportunities offered by innovative financial mechanisms, based on the provision of data and indicators that can attest to the achievement of a country's climate targets and commitments. For example, green bonds require the bond issuer to communicate environmental or climate sustainability objectives to investors in a transparent manner, as well as to undergo external evaluation and review. Therefore, having a robust and clear monitoring and reporting system in place can help governments access new instruments and consolidate the operationalization of their climate action, in alignment with the targets set by their Nationally Determined Contributions (NDCs). The publication consists of four parts. The first part describes the context of the role of transparency and digital governance in the development of climate ambition. The second part analyzes the current state of the ETF on a sample of ten countries in the region. Part three studies the situation of open climate data governance and its digitization based on a sample of six countries in Latin America and the Caribbean. Finally, the fourth part of the report presents its general conclusions and recommendations.