World Bank Calls For Urgent Climate Action In Caribbean, Latin America

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A new World Bank report calls on countries in the region to take urgent action to help reduce the impacts of climate change and set a path for the transition to low-carbon economies.

According to the report, A Roadmap for Climate Action in Latin America and the Caribbean 2021-2025, climate-related disasters such as hurricanes, droughts, fires, and floods are becoming increasingly frequent and intense in the region and are the cause of enormous economic losses.

Latin America and the Caribbean (LAC) is among the regions most vulnerable to the destructive power of such events, with annual costs due to disruptions in energy and transport infrastructure equivalent to 1 percent of regional GDP and up to 2 percent in some Central American countries.

Furthermore, climate change is expected to have negative impacts on productivity and harvests in several countries in the region.

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This could exacerbate acute food insecurity, which increased rapidly during the COVID-19 pandemic to affect more than 16 million people across the region, with many families at risk in 2022 due to higher inflation and food prices.

Without action, by 2030, up to 5.8 million people could fall into extreme poverty as a result of climate change, and by 2050 over 17 million people could be forced to leave their homes to escape climate impacts.

“Countries in LAC have a unique opportunity to act swiftly and lead the change towards more resilient and low-carbon economies that foster a better future for their people,” said Carlos Felipe Jaramillo, World Bank Vice President for Latin America and the Caribbean.

“The World Bank has long been a strong partner to the region and as part of our long-term commitment to achieving sustainable and inclusive development, we have stepped up our support, providing about $4.7 billion in climate-related financing during the last year.”

The region is responsible for 8 percent of global greenhouse gas emissions. The agricultural sector, together with changes in land use and deforestation, accounts for 47 percent of emissions in LAC, well above the global average of 19 percent. Energy, electricity consumption and transportation account for another 43 percent of emissions.

The report emphasizes opportunities in these areas for both economic growth and services with lower emissions as key to accelerating climate action and leading an urgent transition to low-carbon economies to avoid the irreversible effects of climate change.

“This report offers an ambitious and urgent roadmap for transformative climate action in the region, building on country climate priorities and commitments and focusing on adaptation and resilience, while supporting countries to achieve their low carbon development goals,” said Anna Wellenstein, Regional Director for Latin America and the Caribbean in sustainable development.

The report highlights several priority areas in key sectors for new and accelerated climate action:

Managing landscapes, agriculture and food systems that include deforestation-free value chains

Decarbonizing power generation, transport systems and manufacturing while reducing infrastructure disruptions

Making cities more resilient to climate shocks and reducing urban emissions

While supporting cross-cutting actions that:

help vulnerable populations adapt to climate change and achieve just and equitable transitions to low carbon economies; and

promote green growth while reducing financial sector risks and anticipating market transitions.

In FY22, the World Bank provided US$4,691 million for climate action in the region, in projects such as:

Climate Resilient and Sustainable Agriculture (Belize)

Resilient Connectivity and Urban Transport Accessibility (Haiti)

Enabling a Green and Resilient Development Policy Financing (Peru)

Second Disaster Risk Management Development Policy Credit (Honduras)

Belgrano Sur Passenger Railway Line Modernization Project (Argentina)

The targets of the Roadmap for Climate Action in Latin America and the Caribbean 2021-2025 are grounded in the World Bank Group’s Climate Change Action Plan (CCAP) and fully integrate all parts of the World Bank Group to work with a broad range of partners in the development of multisectoral solutions.

SOURCE: World Bank

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Editorial Staff
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

8 COMMENTS

    • You are very correct on the US’ hypocrisy on climate change- they are cows when it comes to green house emissions! Now, I would rather the US army ensuring world peace any day by any green house means necessary rather than an unstable/ war torn world!

  1. The World Bank, as the economic bully used by the US against other countries, completely misses the irony of the following passage of scripture: “Thou hypocrite, first cast out the beam out of thine own eye; and then shalt thou see clearly to cast out the mote out of thy brother’s eye.”

    Here is the most lukewarm article I could find to indict the US military’s effect on climate change:
    https://www.theguardian.com/us-news/2022/mar/10/pentagon-us-military-emissions-climate-crisis

    Slowly but surely, we are finding out what Gene’s agenda at the CDB really is!

  2. Temperature records date back to 1880, the planet has existed for billions of years. We really need to stop with this climate hoax as the planet routinely goes through heating and cooling periods naturally. I used to believe in that global warming hoax until I started examining records and looking at actual data. Nothing wrong with being environmentally conscious and I would encourage it. But this green energy madness is just that. Madness. The bigger issue is the number of species we are wiping out.

  3. A while coming, now WEF, Gates, Schwab and all the globalists are focused on the Caribbean in pushing their global agenda. Wait till you hear that Banana Plantations are producing x amount of CO2 and needs to be reduced or eliminated completely…….just saying. Whatever is being decided for our benefit is not by local government, they will only follow the rules…..think I am wrong? Reddit.

  4. there is no such real thing as climate change we humans are the ones destroying the earth with the things we do resulting in things changing

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