(Original Story on https://www.iadb.org/)
230 proposals from 20 countries received in the ‘Call for Proposals’ of the IDB’s “Too Good to Waste” initiative
In the context of the upcoming COP29, it is crucial to highlight the growing demand for resources in Latin America and the Caribbean (LAC) to address climate change by improving solid waste management. The Inter-American Development Bank’s (IDB) recent “Too Good to Waste” call for proposals highlights this, receiving 230 proposals from 20 countries in the region.
The urgency of addressing solid waste
The IDB call highlights the urgency of properly managing solid waste, a crucial sector for mitigating methane emissions. This commitment of the region to the circular economy and emissions reduction is reflected in:
15 proposals from the national government,
97 from subnational governments,
67 from public and private waste management operators, and
51 from other managers or actors.
Also included are initiatives from large cities such as Buenos Aires, Bogota, Brasilia, Mexico City, Montevideo and Quito, among others.
Innovative proposals and upstream approaches
Of the proposals received, 194 focus on upstream solutions and waste recovery, with 16 prioritizing prevention and separation at the source. This approach is vital to reduce waste generation and maximize reuse and recycling, aligning with the principles of the circular economy.
Financial challenges and needs
Although it is not the region that produces the most solid waste, Latin America and the Caribbean faces major challenges due to its waste consumption and management patterns, which make it a major emitter of methane. With more than 96% of waste destined for final disposal, much of which ends up in inadequate sites, and more than 50% being organic, the decomposition of this waste generates methane, a very potent greenhouse gas.
The demand for resources for pre-investment, investment and financial sustainability is high, exceeding $37 million USD in requests for project preparation studies alone. On average, an additional $4 billion USD is required annually in LAC for investment, operation, maintenance and institutional strengthening in the solid waste sector.
Therefore, actions in the solid waste sector represent a great opportunity to mitigate methane and move towards a circular economy.
The IDB’s role and regional collaboration
The IDB is positioned as a key ally, prioritizing capacity building and promoting models of private participation and combined financing. Regional collaboration is essential to increase waste recovery and ensure the proper disposal of waste that cannot be used.
Too Good to Waste is an IDB initiative funded by the Global Methane Hub and the AquaFund that seeks to improve solid waste management in Latin America and the Caribbean and thereby reduce methane emissions. To meet the high demand for Call for Proposals resources, the IDB is exploring the possibility of co-financing some of the proposals with funds from other initiatives, such as the GEF-funded ISLANDS Caribbean Incubator Facility and #SinDesperdicio, which is funded by the private sector.
Finalists and Next Steps
Of the 156 eligible proposals, 18 finalists from 12 countries were selected, standing out for their quality and alignment with the objectives of Too Good to Waste.
The winners will be announced on November 7 in a Webinar where they will also discuss the impacts of waste on methane emissions, advances in its mitigation, as well as opportunities for the use of artificial intelligence and satellites for this purpose.
The winners of the call for proposals will benefit from non-reimbursable technical cooperation resources for the preparation of pre-investment studies and the structuring of solid waste management projects focused on the circular economy and the mitigation of methane emissions.
Conclusion
The high demand for resources in Latin America and the Caribbean reflects the urgency and commitment of the region to mitigate climate change through more efficient and sustainable solid waste management. COP29 will be a crucial platform to discuss and advance these initiatives, promoting a circular economy and effective climate action in the solid waste sector.
Registration to the IDB’s Too Good to Waste Webinar
We invite you to the webinar where the winners of the Too Good to Waste Call for Proposals will be announced. Register here
Comments