Latin America and the Caribbean (LAC) countries are increasingly incorporating climate change into their national policy agendas and they aim to reduce greenhouse (GHG) emissions and build climate resilience. In 2013-2014, the Inter-American Development Bank (IDB) Office of Evaluation and Oversight evaluated IDB's support for climate change mitigation and adaptation. This is that office’s first evaluation of IDB's interventions and institutional set-up related to climate change. The evaluation seeks to document and to draw lessons from the recent IDB experience related to climate change (2004-2014). It focuses on IDB financed operations in important climate-related sectors—agriculture and natural resources, energy, disaster risk management and transport–that directly support climate resilience building (adaptation) or GHG emissions reduction (mitigation) or that have these outcomes as co-benefits. Several background papers were produced for the evaluation, and this is paper is one commissioned by the Office of Evaluation and Oversight to support the overall climate change evaluation.