Sostenibilidad

Latin America and the Caribbean is a region shaped by and very much of the ocean. All but two IDB member countries have important ocean coastlines, and 25% of the region’s population lives on the coast, with the number reaching nearly 100% in Caribbean island countries. But while rainforests, grasslands and rivers have so far stolen our attention, it’s time for our oceans to get their due.In 2012, approximately 275 million people in the region worked on fishing or aquaculture, contributing around $15 billion to the region’s GDP.

Many international organizations have participative mechanisms that can be used by physical or juridical persons who feel that either the design, construction or operation of investment projects may have had a negative environmental or social impact on them. These mechanisms are effective means to process users’ complaints, while enhancing information transparency and accountability. Traditionally, this field was covered by international agreements and organizations set up to ensure their compliance.

The global green bond market hit USD 160 bn in 2017 and is estimated to reach 250 bn this year, with China becoming the world’s second-largest issuer (behind only the US) in less than three years since the first bond was issued in 2015. This is clear evidence of how the green economy is growing in a country that at the moment is also creating growth opportunities for its neighbors in the whole Asian region and could open doors for Latin America and the Caribbean (LAC) as well.

During the last two decades, Latin America and the Caribbean has been at the forefront of the world´s biodiversity conservation, dedicating 20% of the region's territory to this end.  LAC is moving forward to reach Aichi goal #11 as nine countries of the region will meet or exceed the coverage of agreed protected areas by 2020.

To maintain global warming below 2°C, the world needs to switch to carbon-free electricity. But energy investors seem to disagree. Coal, gas, and diesel plants are a big chunk of the trillions of dollars scheduled to be invested in expanding power production capacity over the coming years. Those investments are at risk of becoming stranded assets.

The vulnerability of agriculture to the entry of exotic pests has significantly increased accordingly with the displacements of people and goods worldwide. Under these circumstances, there is a risk of losing 30% of crops worldwide and affecting more than 85 million hectares. Therefore, it is vital to control and eradicate any pest and plague that is evidenced to ensure healthy crops and food security of any country.

We are a few weeks away from Russia 2018 and we do not want to miss the most important match: the game against deforestation. In Guatemala, 115,000 hectares of forest are lost each year, equivalent to 450 soccer fields every day. Terrible, is not it? Although it is a country that still conserves 34% of its forests, with this rate of deforestation, in a period of 30 years it will have lost every single one of them.

Latin America and the Caribbean (LAC) is the developing region with the highest rate of urbanization on the planet. In fact, the urban population in LAC represents more than 82% of its total and it will reach 90% by the end of 2050 (IDB, 2015). The urban population in 2016 alone, demanded around 846 million tons of food (FAO, 2016), a number that will continue to increase.

Last week, the United Nations climate change negotiations took place in Bonn, Germany to define the rules to implement the Paris Agreement and discuss ways to increase global action on climate change. While these talks are essential for building progress, the world stands a scant chance of solving climate change unless the private sector steps up too. The increasing frequency and intensity of extreme climatic events show us that time to secure a safe climate is rapidly evaporating.