Posts by Climate change
Sahara Dust Storms in the Caribbean, a Hazard For Both Humans and Coral Reefs
Saharan dust plumes are ramping up over the Caribbean region, creating health hazards that are particularly dangerous for those with their health compromised by COVID-19 or other problems. This is clear evidence that the region is not isolated from the effects of climate change elsewhere.
Addressing Climate Risk: Five Steps to Get Started
The pandemic has given us all a crash course in dealing with crises, becoming a sneak peak into what a man-made global disaster that disproportionately impacts the poor and vulnerable can cause. Climate change can be very similar, and knowing how to navigate and gauge its risks even harder.
Four insights for banks willing to seize sustainable finance opportunities
Attitudes towards environmental, social and governance factors are changing across the investment and lending community in Latin America and the Caribbean. Financial impacts associated with extreme weather events, growing regulatory and industry pressures on climate-related risk disclosure, and enhanced availability of data, are key aspects influencing companies’ views of environmental, climate, social and governance (ESG) factors. As a result, the role of ESG analysis is shifting from an ancillary function to an integral part of fundamental analysis and new business propositions. IDB Invest’s annual Sustainability Week (Lima, Peru – May 7-9, 2018) took a pulse on this shift, exploring wider sectoral trends within agribusiness, infrastructure, and banking sectors. For the financial community, in particular, there were four key messages from Sustainability Week:
Green infrastructure: protect your oceanfront with a coral reef
Hurricane Matthew just swept across the Caribbean, leaving behind destruction and crumbled infrastructure. In Haiti, impassable roads and destroyed bridges between the capital Port-au-Prince and the areas most impacted by the hurricane pose the biggest challenge in reaching the affected population. The overall damage of the hurricane is estimated in the billions of dollars.
Investing in water and sanitation is no dirty business
In an era of smart cities, 3D printing and artificial intelligence, The Economist awarded the “humble loo” the world’s greatest innovation. Why? It has saved the lives of billions. The World Health Organization concluded that one dollar spent on sanitation generates a return of $5.50. In Latin America the return climbs over $7.00 – the second highest after East Asia. When people are healthier, productivity improves and attrition and absenteeism decline.
“One point five to stay alive” - Three ways the Caribbean's private sector can mobilize climate action
One goal of the upcoming Paris negotiations is to limit global temperature rise to two degrees Celsius. The Caribbean is aiming even lower, saying it much achieve, “One point five to stay alive.” The Caribbean loses up to five percent of GDP annually due to natural disasters linked to climate change. Rising sea levels and water temperatures, ocean acidification and extreme weather events disproportionately affect the small, low-lying island nations. For them, closing the gap between climate pledges and climate actions is one way to measure the success of COP21. As ecosystems approach their limits, key business sectors can strengthen their efforts to bridge this crucial divide.