PRAIA, January 15, 2025 – Cabo Verde is focusing on building resilience and accelerating a low-carbon transition as part of its sustainable development strategy. This initiative is outlined in the newly launched Country Climate and Development Report (CCDR).
Cabo Verde, a Small Island Developing State (SIDS) in the Atlantic Ocean, faces significant challenges from climate change and natural disasters such as droughts, floods, ocean warming, and sea level rise. These environmental issues are compounded by economic challenges like heavy reliance on tourism and imported goods, which account for 80% of domestic food consumption, alongside high public debt. Without effective adaptation measures, projections indicate potential GDP losses of up to 3.6% by 2050.
The CCDR provides a strategic roadmap for aligning Cabo Verde’s development goals with climate action through investments that mitigate climate risks while unlocking opportunities for sustainable growth. The report highlights the need for an integrated approach to address these vulnerabilities with immediate priorities including:
- Promoting integrated land and water management to enhance food security through efficient irrigation, drought-resistant crops, and landscape restoration.
- Fostering a climate-resilient blue economy by diversifying tourism, improving fisheries management, and protecting coastal ecosystems.
- Upgrading infrastructure systems by integrating climate risks into urban planning to safeguard critical infrastructure.
- Accelerating the low-carbon energy transition by expanding renewable energy capacity to reduce dependency on fossil fuels.
- Enhancing social resilience through strengthened social protection systems and investment in education.
The CCDR estimates that ambitious climate action would require approximately $140 million annually from 2024 to 2030. However, the economic benefits are expected to outweigh these costs. By mobilizing finance at this scale through partnerships with private sectors and international stakeholders along with innovative financial instruments, Cabo Verde could see a GDP increase of 2.5% by 2050 compared to baseline scenarios.
“Climate action is not just a necessity; it’s an opportunity for Cabo Verde to chart a more sustainable and prosperous future. With strong governance, innovative financing, and community engagement, Cabo Verde can lead the way in resilience and low-carbon development,” said Indira Campos, World Bank Group Resident Representative for Cabo Verde.
For further details or access to the full report, additional resources are available online.