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Publication
Peru Country Climate and Development Report
(World Bank, Washington, DC, 2022-11)The Peru Country Climate and Development Report (CCDR) provides analysis and recommendations on integrating the country’s efforts to achieve economic development with the pursuit of emission reduction and climate resilience. The CCDR explores opportunities and trade-offs for aligning Peru’s development path with its recent commitments on climate change. Peru is highly vulnerable to climate change and needs urgent adaptation action. Peru can benefit from decarbonization policies, thanks to its mining, forestry and agriculture, and renewable energy resources. Peru has many opportunities to develop and implement comprehensive climate policies that also increase productivity and reduce poverty. A low-carbon, resilient development for Peru would require substantial institutional reforms, in addition to public and private investments. -
Publication
Argentina Country Climate and Development Report
(World Bank, Washington, DC, 2022-11)The Argentina Country Climate and Development Report (CCDR) explores opportunities and identifies trade-offs for aligning Argentina’s growth and poverty reduction policies with its commitments on, and its ability to withstand, climate change. It assesses how the country can: reduce its vulnerability to climate shocks through targeted public and private investments and adequation of social protection. The report also shows how Argentina can seize the benefits of a global decarbonization path to sustain a more robust economic growth through further development of Argentina’s potential for renewable energy, energy efficiency actions, the lithium value chain, as well as climate-smart agriculture (and land use) options. Given Argentina’s context, this CCDR focuses on win-win policies and investments, which have large co-benefits or can contribute to raising the country’s growth while helping to adapt the economy, also considering how human capital actions can accompany a just transition. -
Publication
A Roadmap for Climate Action in Latin America and the Caribbean, 2021-2025
(Washington, DC: World Bank, 2022)In 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. -
Publication
World Bank Group Climate Change Action Plan 2021–2025: Supporting Green, Resilient, and Inclusive Development
(World Bank, Washington, DC, 2021-06-22)The 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.