ECONOMICS OF CLIMATE ADAPTATION STUDY FOR THE CARIBBEANFriday 14th May 2010
On 12 and 13 May, over 40 representatives from Caribbean and International agencies met in Barbados to discuss the initial results from a recent investigation into the Economics of Climate Adaptation (ECA) in the Caribbean.
Director of the National Office of Disaster Services (NODS) Philmore Mullin represented Antigua and Barbuda at the meeting.
“The study, funded by the Caribbean Catastrophe Risk Insurance Facility as part of its technical assistance programme, was launched in February to enable the development of a fact base for developing sound climate change adaptation strategies in the region.” Mullin said.
Climate change is considered to be the most pervasive and truly global of all issues affecting humanity, posing a serious threat to the environment as well as to economies and societies - the impacts of which are likely to adversely affect sectors such as tourism and agriculture.
The focus of this study is on the impact of climate risks and change on a country’s infrastructure (including housing), and tourism and travel, agricultural, industrial and services sectors.
The results of the study will assist decision makers throughout the Caribbean region in defining and developing sound adaptation strategies and business cases which can be incorporated into national development plans.
The recent Climate Change Conference in Copenhagen reconfirmed the commitment to provide funding and technical assistance for climate adaptation to developing countries. The ECA study will help Caribbean leaders develop programmes that will be strong candidates for adaptation assistance.
Since February, a team composed of Caribbean Risk Managers on behalf of CCRIF, the Caribbean Community Climate Change Centre and other regional partners, has been intensely involved in data collection and analysis for a number of countries with analytical support provided by McKinsey & Company and Swiss Re.
The workshop held at the Caribbean Development Bank, provided an introduction to the Economics of Climate Adaptation approach and its application in the Caribbean and focused on sharing the findings of the study, examining the key insights and results for wind, sea level rise/coastal flooding, inland flooding and salinisation of groundwater.
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