Representatives of governments from Latin America and the Caribbean, the European Commission and implementing agencies gathered in Panama City for the Euroclima Annual Meeting, with the aim of strengthening regional coordination and advancing the implementation of the Global Gateway investment agenda in areas related to climate change, energy transition and the circular economy.

In this context, the Economic Commission for Latin America and the Caribbean participated in the main sessions of the meeting, contributing its expertise in economic policy, climate-related financing and the analysis of risks associated with climate change.

During the opening day, in the “Knowledge Commons” session, ECLAC presented progress on a pilot Climate Stress Test developed jointly with Banco de México and applied to 10 financial institutions in Mexico. The presentation highlighted the importance of integrating climate risks into financial stability analysis and economic policy decision-making.

In the technical sessions, ECLAC contributed to discussions on regional cooperation in carbon markets, emphasizing the role of carbon pricing instruments in supporting decarbonization and improving the efficiency of climate policies. It also participated in exchanges on financing for the green transition, where the role of development banks, their financial instruments, and the mobilization of capital markets were highlighted.

In addition, dialogue sessions were held with representatives of the European Commission to discuss ECLAC’s lines of action within the Euroclima Programme and its projection under the Global Gateway strategy, including the next steps in cooperation.

Finally, during the Programme Steering Committee, implementing agencies shared progress and perspectives, highlighting the commitment of Europe and Latin America and the Caribbean to the sustainable development agenda and the urgency of climate action, while underscoring the importance of strengthening coherence and complementarity of actions in the region in a complex multilateral context.

The meeting reaffirmed the importance of advancing policy mixes —fiscal, financial and regulatory— that integrate climate risks into macroeconomic planning, contributing to a more productive, inclusive and sustainable development path in Latin America and the Caribbean.