Mainstreaming climate change in the planning and budgeting processes in developing countries: experiences in Latin America and the Caribbean

Climate finance is an essential means of implementation to achieve climate action; however, the international flows from bilateral and multilateral sources have not been distributed equally in developing countries, which created pressure on those with conditional measures as part of their National Determined Contributions. In this context developing countries need to plan national strategies on climate finance that can help them to tackle the challenges of climate change as well as others related to the pandemic, which means that they have to mainstream climate change in the planning and budgeting process to ensure public sources that can cover those needs. While developed countries will remain, significant donors, as the Paris Agreement pointed out, developing countries need to reorganise their public finance systems, which will demand decouple them from extractive and fossil fuel activities. This paper will present the extent to which the major emitter of greenhouse gases in Latin American and Caribbean countries have managed to start a mainstreaming climate change, particularly at the planning and budgeting process at the national level, that can provide better leverage other resources, including private finance.