Urban transportation investments present an opportunity to mitigate climate change while supporting effective, clean, safe, and equitable transportation. This study reports on the response of a set of urban transportation investments in Latin America to climate change. A sample of recent transportation projects funded by an international bank was analyzed to learn what kinds of infrastructure, plans, and policies were being pursued and to assess whether projects developed specifically to address climate change differed from other projects. Loans and grants supported a mix of infrastructure for transit, bicycles, and pedestrians, as well as institutional strengthening. Although only a few projects explicitly addressed climate change mitigation, their impacts on mode choice and urban development almost surely have had positive effects compared with what would have happened without them. In some cases, however, funding for road construction at the urban fringe may induce outward urban expansion and greater automobile use. Specifically analyzing the carbon consequences of all projects as well as their combined effects in the overall system would provide better ability to track and take credit for carbon mitigation and also could flag potential problem areas.