The new Environmental and Social Policy Framework (ESPF), which has been in force since October 2021, emerged as an opportunity to improve and harmonize environmental and social standards within the IDB Group with those of other multilateral organizations, such as the IFC's Performance Standards on Environmental and Social Sustainability, the World Bank's Environmental and Social Standards, or EBRD's Performance Requirements.
Global economies are being redefined, not only regarding size or stage of development but also with respect to ocean and coastal resources. The Blue Economy has emerged as an economic path that promotes resilient economic growth, social inclusion, and the maintenance and improvement of livelihoods while at the same time ensuring the environmental sustainability of marine and coastal areas (World Bank, 2017).
Small Island Developing States (SIDS) in the Caribbean are among the most highly vulnerable countries to climate change hazards which include sea level rise, hurricanes, flooding, droughts, changing rainfall patterns, increased temperatures, and coastal erosion.
We’ve often heard that the window opportunity to tackle climate change is approaching. Well, it is true. According to theIPCC, the next decade is critical to see whether countries can move fast enough to implement plans to adapt to this increasingly complex challenge: the climate crisis. The time gap is closing and a “livable and sustainable future for all” could be missed rapidly if we do not act rapidly.
In recent years, there has been an increasing focus on environmental and social risks in global supply chains. In fact, it is often in project supply chains, rather than direct project activities, where the most significant risk of undetected adverse environmental and social impact exists, such as risks related to forced labor and the biodiversity impacts that may come from the sourcing of certain materials. Therefore, good environmental and social supply chain management in infrastructure projects is critical to optimize positive development outcomes and adequately address the risks.
The fact that COP27 occurred on the African continent demonstrated the important role of developing countries in climate adaptation, mitigation (reduction) of greenhouse gases, and combating biodiversity loss - three key elements of the fight against climate change. But unfortunately, the conversation often focuses on the first two, and we cannot leave biodiversity aside.
The holidays remind us of the cultural power of food: nothing connects loved ones together the way a shared meal can. That is, of course, until talking about sensitive issues spoils the party. This holiday season, Latin Americans and Caribbeans gather to celebrate religious milestones (including a world cup!) just as global leaders have enacted a framework to protect biodiversity. Some may find themselves discussing the environmental impact of the food we eat with their in-laws.
The role and importance of nature in our lives has become mainstream and governments are considering it for our future. This growing global awareness reveals the strong connections between human health, livelihoods, economic resilience, climate adaptations, and our use of nature. Everyone is talking about it, but most importantly many more are acting on it.
Who likes a noisy bedroom? What about a living room that feels cold in winter and hot in summer? While this is currently the reality of city life for many of us, it does not have to be. According to our recent report, Latin Americans and Caribbeans can get better buildings with more comfortable temperatures, noise insulation, and, wait for it: cheaper bills too!
At this year’s UN Biodiversity Conference in Montreal (COP15), countries are gathering to finalize the post-2020 global framework on biodiversity (GBF). In the landmark agreement, countries are expected to commit to halt biodiversity loss by 2030 and institute a new global plan to deploy resources for the conservation and restoration of nature.