The economics of climate change in Latin America and the Caribbean, 2025 climate action to overcome development traps
The manifestations of climate change are becoming increasingly evident, and their negative effects are already being felt. The Latin American and Caribbean region is no exception and, in fact, is one of the most vulnerable regions of the world. Droughts, forest fires and powerful storms are intensifying and becoming more frequent. This is unfolding in a context in which the region is facing a number of development traps that could jeopardize the progress it has made thus far and limit the countries’ ability to overcome the challenges of improving their population’s well-being on a sustainable basis.
At this critical juncture, climate action offers an opportunity for spurring growth and innovation, creating jobs and enhance the region’s international positioning. The investments, plans and policies needed to address the climate crisis can, at the same time, also help the region to advance its economic and social goals.