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Publication(Washington, DC: World Bank, 2022) World Bank GroupIn Latin America and the Caribbean (LAC) the rapidly changing climate is increasing the frequency and intensity of extreme weather‑related events. The year 2020 saw the most catastrophic fire season over the Pantanal region and a record number of storms during the Atlantic cyclone season. Eta and Iota, two category 4 hurricanes, affected more than 8 million people in Central America, causing tens of billions of dollars in damage. In Honduras, annual average losses due to climate‑related shocks are estimated at 2.3 percent of gross domestic product (GDP). In rankings of the impacts of extreme weather events from 2000 to 2019, five Caribbean nations figure among the top 20 globally in terms of fatalities per capita, while in terms of economic losses as a share of GDP eight of the top 20 countries are in the Caribbean. Extreme precipitation events, which result in floods and landslides, are projected to intensify in magnitude and frequency due to climate change, with a 1.5°C increase in mean global temperature projected to result in an increase of up to 200 percent in the population affected by floods in Colombia, Brazil, and Argentina; 300 percent in Ecuador; and 400 percent in Peru. Climate shocks reduce the income of the poorest 40 percent by more than double the average of the LAC population and could push an estimated 2.4–5.8 million people in the region into extreme poverty by 2030.
World Bank Group Climate Change Action Plan 2021–2025: Supporting Green, Resilient, and Inclusive Development(World Bank, Washington, DC, 2021-06-22) World Bank GroupThe Climate Change Action Plan 2021–2025 aims to advance the climate change aspects of the WBG’s Green, Resilient, and Inclusive Development (GRID) approach, which pursues poverty eradication and shared prosperity with a sustainability lens. In the Action Plan, we will support countries and private sector clients to maximize the impact of climate finance, aiming for measurable improvements in adaptation and resilience and measurable reductions in GHG emissions. The Action Plan also considers the vital importance of natural capital, biodiversity, and ecosystems services and will increase support for nature-based solutions, given their importance for both mitigation and adaptation. As part of our effort to drive climate action, the WBG has a long-standing record of participating in key partnerships and high-level forums aimed at enhancing global efforts to address climate change. The new Action Plan represents a shift from efforts to “green” projects, to greening entire economies, and from focusing on inputs, to focusing on impacts. It focuses on (i) integrating climate and development; (ii) identifying and prioritizing action on the largest mitigation and adaptation opportunities; and (iii) using those to drive our climate finance and leverage private capital in ways that deliver the most results. That means helping the largest emitters flatten the emissions curve and accelerate the downward trend and ramping up financing on adaptation to help countries and private sector clients prepare for and adapt to climate change while pursuing broader development objectives through the GRID approach.
Publication(World Bank, Washington, DC, 2016-05-03) World Bank GroupThe impacts of climate change will be channeled primarily through the water cycle, with consequences that could be large and uneven across the globe. Water-related climate risks cascade through food, energy, urban, and environmental systems. Growing populations, rising incomes, and expanding cities will converge upon a world where the demand for water rises exponentially, while supply becomes more erratic and uncertain. They will jeopardize growth prospects in the regions worst affected and in some of the poorest countries. These challenges are not insurmountable, however, and smart policies that induce water-use efficiency, align incentives across regional and trading partners, and invest in adaptive technologies can go a long way toward reducing or eliminating these negative effects.
Publication(World Bank, Washington, DC, 2016-04-08) World Bank GroupThe World Bank Group (WBG) Forest Action Plan FY16-20 aims to integrate the sustainable management of forests more fully into development decisions and define priorities for WBG interventions in the next five years. It focuses on two areas of engagement: i) Sustainable Forestry, where the WBG aims to have investments contributing to sustainable management of forests and value chains and (ii) Forest-Smart Interventions, where WBG aims to have interventions in other sectors not come at the expense of forest capital. These two focus areas build on three cross-cutting themes: climate change and resilience, rights and participation; and institutions and governance.