Scotiabank announces 10 Net Zero Research Fund recipients
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- In Peru, the Libélula organization will receive nearly US$$58,000 to study the challenges of corporate climate action in Latin America.
- Peru, Chile, Argentina, Honduras, Colombia, Mexico, Guatemala, Panama and Uruguay are the countries that competed for the resources.
Scotiabank announced the names of the beneficiaries of the Net Zero Research FundThis year, in 2021, it will award a total of US$805,255 to 10 organizations interested in promoting research and leadership in support of the transition to a low-carbon economy. In Peru, the Libélula institution will receive US$57,981 to study the challenges, barriers and opportunities of corporate climate action in Latin America.
The call for beneficiaries was based on the premise that the involvement of the non-state sector is key to achieving the decarbonization of the region. However, there is insufficient information on how companies in Latin America are contributing to climate action.
"There are several companies in Latin America that are committed to fighting climate change and are taking actions to reduce their GHG emissions. Thanks to Scotiabank's support, Libélula will promote research in 10 countries in the region that will provide greater understanding of the degree of maturity, challenges and opportunities of these actions and commitments. This will allow us to scale the ambition of the commitments and impact of the Latin American private sector's climate actions", says Pía Zevallos, General Manager of Libélula Group.
The objective of these resources for the Libélula project will be to prioritize corporate climate action in the region and help achieve the adaptation and mitigation goals expressed in the Nationally Determined Contributions. These were set by the Peruvian government.
Thus, the nearly US$58 thousand will be used for five items:
- Review of information.
- Establish an implementation network with participating countries.
- Conduct a diagnostic survey for companies by country.
- Workshops with companies by country to gather information.
- Report and dashboard generation.
- Publication and dissemination of the report.
Chile, Argentina, Honduras, Colombia, Mexico, Guatemala, Panama and Uruguay are the countries from which the other nine beneficiaries will be selected.
Scotiabank Peru has made a commitment to reduce corporate greenhouse gas (GHG) emissions by 45% by 2030, for which it has been working on a series of initiatives for more than three years, such as the installation of solar panels in branches or the regular measurement of the Carbon Footprint.
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