The World Bank Group, in collaboration with the Organization of Eastern Caribbean States Commission (OECS), has released a report addressing climate change challenges and opportunities for Dominica, Grenada, Saint Lucia, and Saint Vincent and the Grenadines. The Country Climate and Development Report highlights the risks posed by climate change to long-term growth in these nations while identifying pathways to enhance resilience.
The report emphasizes the severe impact of climate change on existing development issues. For instance, it projects that Saint Lucia could lose 34% of its sandy beaches due to rising sea levels by 2100, potentially affecting up to 57% of hotel revenue. Additionally, all countries included in the study are expected to experience an increase of 22 days per year with temperatures exceeding 30°C by the end of the century.
Investment needs and strategies are assessed within the context of each country's fiscal situation and growth objectives. The report suggests critical actions at both national and regional levels to protect development goals from climate-related impacts.
Benoit Bosquet, World Bank Regional Director for Planet, stated: “These four countries can strengthen resilience, reduce economic vulnerabilities, and support the achievement of climate commitments by combining investments in resilience with complementary actions to improve efficiency in how every dollar is used. Investing in nature-based solutions and moving away from fossil fuels can help strengthen resilience.”
A key recommendation is establishing a "resilient core" through strategic investments that would enable these nations to achieve Sustainable Development Goals while minimizing infrastructure damage during adverse events. However, high financing costs necessitate consideration of two potential investment pathways.
Honorable Kerryne James, Minister for Climate Resilience, Environment and Renewable Energy remarked: “It is a blueprint for addressing vulnerabilities and charting a path to sustainable growth. If we leverage this report, it can transform our countries. This is not optional for Grenada; it is essential.”
Dr. Didacus Jules, Director General of OECS Commission added: “We recognize the value of the tool. It is important in tightening the nexus between climate and development,” advocating for expansion to additional countries.
The report serves as a call for collaborative action among governments, private sectors, and international communities.