Last March, Peru experienced extreme weather conditions in the north of the country. This resulted in numerous physical, economic and human losses with costs associated at over US$3 billion, or 0.5% of GDP. Planning for reconstruction, the country found itself at a crossroads: it could focus solely on meeting immediate construction needs or rebuild with a long-term vision. … [Read more...] about How sustainable infrastructure can decide Peru’s future
Climate change is already a real threat that affects macroeconomic variables and company results in Latin America and the Caribbean. For example, Peru may not be able to reach its inflation target this year due to the rise in agricultural prices caused by atypical rains. In Colombia, insurers face pressure on their risk rating due to recent landslides and floods. In the … [Read more...] about Finance adapts to climate change
Evidence is mounting that through the right mix of policies and incentives the world can significantly reduce climate risks while boosting growth. Last month, the Organisation for Economic Co-operation and Development (OECD) said that action on climate change can generate inclusive economic growth over both the short and long term. These policies can increase GDP by up to 2.8% … [Read more...] about How can we boost sustainable infrastructure investments?
2017 could be another record year for green investment products as the issuance of green bonds globally is forecast to rise to $206 billion, twice the volume from 2016. This shows how in the last few years, the finance sector has taken serious interest in sustainability’s potential to deliver profit, even though the benefits of environmental and social management have long been … [Read more...] about Three Trends in Sustainable Finance across LAC
In the Caribbean, the year-round sunshine and extremely favorable insolation levels have not been enough to spur significant investments in renewable energy. Now, a year after the signature of the Paris Agreement, investments in solar energy seem more appealing than ever before, mainly due to four reasons: … [Read more...] about Four reasons why the Caribbean private sector must invest in renewables