Global Challenges, Regional Solutions: Latin America and the Caribbean Facing the Climate and Biodiversity Crisis

This edition of the Economy and Development Report (RED) analyzes the challenges and opportunities that climate change action and the protection of ecosystems and biodiversity represent for Latin America and the Caribbean. The report emphasizes three messages of relevance for all countries: the importance of adaptation, the need to contribute to global mitigation, and the urgency of preserving natural capital as a key factor in the development process itself. It also highlights that policies to address these challenges may vary according to the diversity of resources and risks in each country, with possible tensions between conflicting objectives and opportunities for synergies that need to be taken advantage of. Thus, this document seeks to contribute to the discussion on the best public policy alternatives to promote productive economies with low carbon emissions, greater social inclusion and sustainable use of natural resources. The financing needs to meet development, climate and biodiversity preservation goals are overwhelming.