Inputs from the workshop will be used to strengthen Ecuador's Green Economic Recovery Strategy for Building Back Better: Low in Emissions and Climate Resilient.

 16, February, 2022. Ecuador. The Ministry of Economy and Finance and the Ministry of Environment, Water and Economic Transition with the support of EUROCLIMA+ developed the workshop for the formulation of the Green Economic Recovery Strategy with the participation of representatives of the private sector, international cooperation and the public sector related to the implementation of the NDC in Ecuador. The objective of this space was to compile inputs from different institutions and actors to help define the vision, guidelines and actions of the Strategy. To this end, preparatory work was carried out to analyse the impact of the pandemic associated with COVID-19 on the national economy and the NDC. The NDCs represent the country's commitments to mitigate and adapt to climate change in the framework of the Paris Agreement.

The event took place on Tuesday 16 February 2022 in virtual mode. The event was attended by the Undersecretary of Climate Change Karina Barrera, the Undersecretary of Planning and Sectoral and Intersectoral Policy María de la Paz Vela, Andrew Scyner from the Directorate General of International Partnerships of the European Union, Pedro Ponce from the Delegation of the European Union in Ecuador, and Cayetano Casado Regional Specialist for Latin America and the Caribbean in the Support Unit of the NDC Partnership.

Participants highlighted the importance of adding value to sustainable products for export and generating green productive clusters. They also highlighted the need to diversify the economy, increase investment flows and capacity building for the structuring of bankable climate projects for implementing the Strategy in the country. 

The inputs collected in this workshop will be used to formulate the Green Economic Recovery Strategy for Building Back Better: Low in Emissions and Climate Resilient that is led by the Ministry of Economy and Finance (MEF) and the Ministry of Environment, Water and Ecological Transition (MAATE). This process is supported by EUROCLIMA+ in the framework of the Economic Advisors initiative of the NDC PartnershipPartnership, an economic advisory initiative created by the NDC Partnership in order to put NDCs at the heart of post-COVID recovery, and it is part of the actions that the EUROCLIMA+ programme is developing in Ecuador.

This Economic Recovery Strategy will take a holistic view that considers the country's economic, environmental and climate actions in order to address the medium- and long-term effects of the pandemic resulting from the spread of COVID-19. 

About the Climate Finance Action Line in EUROCLIMA+  

Climate finance represents one of the priorities for the Latin American region. To move towards low-carbon and climate-resilient development, a shift in investment flows is needed. The complex architecture of climate finance makes it difficult for Latin American countries to access the necessary resources, international and national, local, public and private, to facilitate Nationally Determined Contributions in action and to foster a sustainable, resilient and inclusive recovery. 

The involvement of financial system actors is important for strengthening climate action and realising a sustainable, resilient and inclusive recovery strategy in the public, private and civil society sectors. Regulatory frameworks, institutional and management capacities and coordination with the financial sector may be insufficient to adequately harness or mobilise all available or potential resources. 

For this reason, EUROCLIMA+ supports its partner countries in strengthening enabling frameworks, institutional capacities and financing and investment instruments for the achievement of national climate objectives in the region. 

See more about this action at Economic Advising for the Green Recovery 

About EUROCLIMA+  

EUROCLIMA+ is a programme funded by the European Union and co-financed by the German federal government through the Federal Ministry for Economic Cooperation and Development (BMZ), as well as by the governments of France and Spain through the Ministry of Foreign Affairs, European Union and Cooperation.  

The Programme's mission is to reduce the impact of climate change and its effects in 18 countries in Latin America and the Caribbean, promoting mitigation, adaptation, resilience and climate investment. It is implemented according to the "Spirit of Team Europe" under the synergistic work of seven agencies: the Spanish Agency for International Development Cooperation (AECID), the AFD Group: the French Development Agency (AFD)/ Expertise France (EF), the Economic Commission for Latin America and the Caribbean (ECLAC), the International and Ibero-America Foundation for Administration and Public Policy (FIIAPP), the German Society for International Cooperation (GIZ) GmbH, and the UN Environment Programme (UNEP). 

Contacts  

For more information about EUROCLIMA+, contact Alexandra Cortés: This email address is being protected from spambots. You need JavaScript enabled to view it. 

For information on EUROCLIMA+ actions on green recovery, contact Laura Cruz:  This email address is being protected from spambots. You need JavaScript enabled to view it. 

For information on the actions that EUROCLIMA+ is implementing in Ecuador, contact Carla Gavilanes: This email address is being protected from spambots. You need JavaScript enabled to view it.