Nature-based Solutions (NbS) can be used as a cost effective way to build infrastructure resilience in response to a changing climate, while also delivering a range of other societal benefits. Yet, many business aren’t aware of these benefits, and implementation of NbS by the private sector (including businesses that plan, design, construct and fund infrastructure) has been limited in Latin American and the Caribbean (LAC).

The Pacific region is known to be one of the most exposed to natural hazards and climate change in the world. Pacific Island Countries (PICs) are exposed to a wide variety of natural hazards, including cyclones, droughts, earthquakes, electrical storms, extreme winds, floods, landslides, storm surges, tsunami and volcanic eruptions. Some of these hazards will be exacerbated by climate change. Average ocean and land temperatures are increasing, and the seasonality and duration of rainfall is changing.

The presentation on Green Climate Fund Climate Resilient Infrastructure: Unlocking Projects’ Pipeline, delivered by Katarzyna Dziamara-Rzucidlo.

MDBs play a critical role in supporting efforts to translate the SDGs into meaningful country-level targets, policies, programs, and projects needed to achieve them. They provide direct financing and help “unlock” and catalyze additional public and private resources. MDBs also provide policy advice and technical assistance supporting countries and clients to build domestic capacity and to identify the needed priority investments with internationally recognized standards.

The effects of climate change – already seen through temperature shifts, extreme weather events and rising sea levels – are certain to have wide-ranging impacts for all kinds of businesses.

Some impacts will be widespread: scarcity of fresh water, for example, will affect everything from human health to agriculture and forestry. Other impacts will be more localised: the effects of rising sea levels will be most evident in coastal areas.

Participants received the announcement of the Odisha State Renewable Energy Policy positively. Odisha, known as a rich state in natural resources, has the greatest potential of renewable energy up to 11,000 MW. As of February 2017, the State has only 142 MW from renewable energy out of the total installed capacity of 9,412 MW. Given that the energy demand rapidly increases in the state, the policy target of achieving 2,750 MW of renewable energy capacity addition by 2022 sends a strong signal on how GoO plans to provide 24/7 access to clean, reliable, and affordable energy in the state.

The Climate and Disaster Risk Screening Tools developed by the World Bank, provide a systematic, consistent, and transparent way of considering short- and long-term climate and disaster risks in project and national/sector planning processes. Screening is an initial, but essential, step to ensure these risks are assessed and managed to support mainstreaming of climate and disaster resilience into key development policies, programs, and projects.

The Toolkit is designed to provide a global resource to help countries put in place the legal frameworks necessary for effective domestic implementation of the Paris Agreement and their nationally determined contributions (NDCs).

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No methodology has yet been generally accepted for assessing the significance of climate risks relative to all other risks to water resources projects. 

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