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The document presents the report of the IAI's 2024 Extraordinary Meeting held on March 26, 2024, via videoconference. The primary outcome of the meeting was the consensus approval of Panama's proposal to host the IAI Executive Directorate's headquarters. The report also details the transition process from the current headquarters in Uruguay, with the Executive Director requesting that operations remain active in Uruguay until July 2025 to ensure a smooth relocation.

The report finds that the aligned GSS+ debt market reached a cumulative volume of USD 4.4 trillion by the end of 2023. Green bonds remain the dominant theme, with 2023 aligned volume reaching USD 587.6 billion, while sustainability and social bonds saw year-on-year declines. Conversely, aligned SLB volume grew by 95% to USD 22.9 billion. Europe was the largest source of aligned GSS+ debt in 2023, while the USA experienced a 38% decline due to anti-ESG sentiment. The report also highlights the growth of 'blue-labelled' debt and the increasing role of sovereign issuers in the GSS+ market.

The document provides a comprehensive historical record of the Inter-American Institute for Global Change Research (IAI) governance from 1997 to 2024. Key institutional developments include the adoption of the 2024-2030 Strategic Plan, the creation of the Science Diplomacy Center, and the implementation of Gender, Equity, Diversity, and Inclusion (EDI) policies. The records track the evolution of the IAI's scientific focus, including the establishment of research programs on the nexus of climate, environment, and health, as well as oceans and coastal systems. Administratively, the document details the transition of the IAI headquarters from Uruguay to Panama, the approval of annual core budgets, and the expansion of the institute's network through the invitation of various academic and research institutions as Associates.

The 32nd Meeting of the Conference of the Parties to the Inter-American Institute for Global Change Research (IAI) approved the 2024-2025 core budget and adopted a new Strategic Plan for 2024-2030. The meeting expanded the institute's network by inviting the Center for Climate and Resilience Research of the University of Chile, the Santa Catarina Research and Innovation Foundation (FAPESC), and the Smithsonian Tropical Research Institute (STRI) to become Associates. Additionally, the Conference initiated the process of transitioning the IAI Headquarters from Uruguay to Panama and instructed the Directorate to develop advisory committees for Indigenous Peoples and Local Communities.

This briefing document, prepared by the IAI Directorate, presents the report of the 2024 Extraordinary Meeting of the Conference of the Parties (CoP) to the Inter-American Institute for Global Change Research (IAI). The primary purpose of the meeting, held via videoconference on 26 March 2024, was to review and decide upon a proposal from Panama to host the headquarters of the IAI Directorate.

The IAI is requesting an operating budget of US$ 1.68 million for the 2024-2025 fiscal year, an increase from US$ 1.4 million in 2023-2024. This growth is driven by the hiring of a Director of Communications, increased travel for strategic activities, and expanded outreach efforts. To fund this, the IAI proposes increasing country contributions by 20% for 2024-2025 and 5% in subsequent years, noting that delayed payments from some Parties are currently pressuring operational capacity.

Reclaim Finance calls on ENGIE shareholders to oppose the company's continued investment in fossil gas, arguing that its strategy is incompatible with a 1.5°C warming limit and its own 2045 carbon neutrality goal. The organization specifically highlights the planned gas power plant in Nijmegen, Netherlands, and long-term US shale gas contracts as evidence of misalignment with climate science. It advocates for voting against the re-election of directors and executive pay at the April 30 general meeting to force a strategic shift away from gas and uncertain technologies like CCUS and biomethane.

Reclaim Finance argues that ENGIE's continued investment in fossil gas is incompatible with a 1.5°C warming limit and its own 2045 carbon neutrality goal. The organization calls on shareholders to vote against key strategic resolutions to sanction the board for failing to align capital expenditure with decarbonization goals.

The document analyzes Latin America's potential to transition to a 100% renewable electricity matrix by 2040, focusing on the role of strategic minerals and the development of regional value chains. It highlights the region's vast reserves of copper and lithium and its existing manufacturing capabilities in steel and aluminum as key competitive advantages. However, it identifies significant barriers, including insufficient geological knowledge, low refining capacity, weak industrial policies, and social conflicts related to mining and land rights. The brief recommends increasing public investment in R&D, strengthening regional cooperation through the G20 and RELAC, and implementing binding community participation to ensure a just energy transition.

This briefing, prepared by the focal point of Chile for the 32nd meeting of the Conference of the Parties to the Inter-American Institute for Global Change Research (IAI), proposes that the Center for Climate and Resilience Research (CR2) be invited to become an Associate of the Institute under Article XI of the Agreement establishing the IAI.

Chile has proposed that the Climate Science and Resilience Center (CR2) be admitted as an Associate of the Inter-American Institute for Global Change Research (IAI). The proposal highlights CR2's regional research ambitions in South America and Antarctica, its interdisciplinary approach to bridging natural and social sciences, and its contributions to Chilean public policy, including the 2022 Framework Law on Climate Change and the design of Chile's NDC for COP25. Additionally, CR2's leadership in climate services is noted through the creation of the Climate Risk Atlas of Chile (ARClim) and 14 other open-access climate services.

The Inter-American Institute for Global Change Research reports that as of March 31, 2024, cash income reached 70% of approved contributions for the 2023-2024 fiscal year. Total expenditures for the period from July 2023 to March 2024 were US$ 832,446, which is 10.8% lower than the budgeted US$ 933,333. The report highlights a significant loss in purchasing power for Parties maintaining contributions at the US$ 5,000 level and urges those in arrears to submit voluntary contributions to ensure the Executive Directorate can fulfill its mandate.

The E-Mobility Program seeks 169.92 million USD from the Green Climate Fund to leverage a total investment of 454.4 million USD for the transition to zero-emission urban mobility. The program focuses on the large-scale deployment of battery electric buses (BEBs), the integration of non-motorized transport (NMT), and the implementation of ecosystem-based adaptation measures to increase the resilience of urban transport infrastructure against flooding and extreme heat. It targets a total GHG emission reduction of 11,415,080 tCO2eq over the asset lifetime and aims to benefit approximately 3.68 million people.

The 2024 Extraordinary Meeting of the Conference of the Parties to the Inter-American Institute for Global Change Research (IAI), held via videoconference on 26 March 2024, resulted in the consensus approval of Panama's proposal to host the IAI Directorate headquarters. The meeting included discussions on the transition from the current headquarters in Uruguay, with the IAI Executive Director requesting that operations remain active in Uruguay until July 2025 to ensure a smooth move. Panama's proposal was highlighted for its strategic location, potential for greater connectivity across the region, and increased engagement with Central America and the Caribbean.

The Espejo de Tarapacá project, designed to combine a 300 MW pumped-storage hydroelectric (PSH) plant and a 561 MW-AC photovoltaic (PV) solar plant in Chile, was formally closed in October 2022 before construction began. Despite initial alignment with Chile's decarbonization goals, the project failed because the Project Company could not secure a power-purchase agreement (PPA) or private investors. The evaluation found that the project's relevance declined as the Chilean government prioritized market competition and lithium-based storage over the preferential treatment requested for PSH. While the project failed its primary energy goals, it achieved some positive social outcomes through community engagement in San Marcos and Rio Seco, including women's empowerment and the establishment of a community office. The report concludes that the GCF lacked sufficient risk analysis during formulation, was too slow in reviewing restructuring proposals, and failed to provide the promised high-level policy advocacy to the Chilean government.

The report finds that while many countries are reducing coal capacity, global operational capacity grew by 2% in 2023 to 2,130 GW, driven largely by China. While new construction reached a historic low outside China, it hit an eight-year high within China. Only 15% of global operational capacity has a retirement commitment aligned with the 1.5°C goal. In Latin America, capacity is gradually decreasing, though some countries like Colombia and Mexico lack concrete phase-out plans, and Brazil has seen some retirement dates postponed.

The IAI Science Diplomacy Center (SDC) is a regional initiative designed to foster science-policy dialogue and collaboration in the Americas, particularly Latin America and the Caribbean. Between 2023 and April 2024, the SDC established three priority pillars: Capacity Building, a Knowledge Hub, and Emerging/Evolving/Innovation Issues. Key achievements include the launch of a Science Diplomacy Training Program for Policy Makers, the expansion of the Science, Technology, and Policy (STeP) Fellowship program, and the development of a specialized science diplomacy curriculum with the University of Sao Paulo. The SDC is also building a Knowledge Hub to map experts, bibliography, and events, while engaging in strategic partnerships with organizations such as AAAS, UNESCO, and DiploCientifica to secure funding and expand regional training.

The report analyzes the growing prevalence of voluntary sustainability standards (VSSs) in free trade agreements (FTAs), noting a significant increase in references since 2018. It identifies five common rationales for their inclusion: cooperation, promotion, recognition, guidelines, and support. While VSSs can complement public regulations and drive innovative trade policy—such as using sustainability criteria for preferential tariffs—the report warns of pitfalls, including vague terminology, lack of enforcement, and the risk of VSSs becoming de facto market barriers for small-scale producers in developing countries. The authors argue that the effectiveness of VSSs depends on their credibility and the establishment of clear multilateral guidelines.

The report finds that Repsol's investment strategy prioritizes oil and gas and shareholder returns over renewable energy, with 2030 production targets projected to be 65% higher than those required for NZE alignment. While the company is diversifying into renewables and hydrogen, these remain marginal, with oil and gas expected to constitute over 70% of its energy mix by 2030. Additionally, the report notes that Repsol's scope 3 emission targets are less ambitious than its scope 1 and 2 targets, and its carbon intensity target for 2030 is 21.9% higher than the NZE.

The report argues that while ENGIE has ambitious renewable energy targets, its overall climate plan is not aligned with a 1.5°C trajectory due to continued investments in fossil gas infrastructure, long-term LNG contracts for fracked US gas, and a reliance on immature technologies like CCUS and large-scale renewable gas. It highlights a lack of precise intermediate absolute emission targets and insufficient methane reporting as key governance failures.