Nature-based Solutions: Scaling Private Sector Uptake for Climate Resilient Infrastructure in Latin America and the Caribbean

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).

Climate change and Disaster Resilience: Pacific Possible

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.

Multilateral Development Banks and Private Sector Engagement for Sustainable Development

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.

Building Resilience to Climate Change: Investing in Adaptation

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.

INDIA: Promoting Private Sector Participation for Renewable Energy Development in Odisha

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.

Climate & Disaster Risk Screening Tools

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.