Climate change is already impacting Latin America and the Caribbean and threatens to reverse the fight against extreme poverty. In the last years, the frequency and intensity of extreme weather-related events are increasing in the region, with recurring catastrophic fires, hurricanes, floods, and droughts.
- Climate shocks reduce the income of the poorest in the region by more than double and could push an estimated 2.4¨C5.8 million people in the region into extreme poverty by 2030.
- Infrastructure disruptions in power and transport cost more than 1% of the Gross Domestic Product annually on average in the region and up to 2% in several Central American countries.
- Without climate action, by 2050, over 17 million people in LAC could be forced to move to escape climate impacts, increasing urban population growth by up to 10 percent.
Latin America and the Caribbean accounts for 8 percent of global greenhouse gas emissions, but this contribution would increase if high-income countries reduced emissions while the region pursues business?as?usual development.
To help countries accelerate a path to sustainable development, the World Bank launched the LAC Roadmap for Climate Action 2021¨C25. This report provides a regional overview of potential new and transformative opportunities for WBG engagement in building resilience to climate impacts, achieving national targets for climate mitigation, and smoothing the transition to low-carbon economies.
It is intended to guide the World Bank Group¡¯s response for scaled-up, transformational climate action in the region.
ľ¹ÏÓ°Ôº¡¯s report highlights several priority areas to accelerate climate action in the region:
- 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
- Promote green growth.