A new World Bank report has called on countries in the region to take urgent action to help reduce the impacts of climate change and set a path for the transition to low-carbon economies.
According to the report, 'A Roadmap for Climate Action in Latin America and the Caribbean 2021-2025', climate-related disasters such as hurricanes, droughts, fires, and floods are becoming increasingly frequent and intense in the region and are the cause of enormous economic losses.
It noted that Latin America and the Caribbean are among the regions most vulnerable to the destructive power of such events, with annual costs due to disruptions in energy and transport infrastructure equivalent to 1 percent of regional GDP and up to 2 percent in some Central American countries.
All feeds
