Study on adaptation priorities in the Caribbean

The project’s general objective consisted in assessing substantial investment options through the Green Climate Fund (GCF) and developing a preliminary pipeline of project recommendations, which could reduce damage loss of the island nations in the Caribbean region and reduce future risks and increase adaptation to climate change, including resilience of the region to the severe weather events experienced recently.

To achieve this, Metroeconomica assessed existing climate hazards/ risks by sector, analysed of future climate change projections and how these may impact the different sectors covered in the study, estimated of expected losses (Average Annual Damage) by hazard and sector across different climate scenarios combining data on losses of pass events (hurricanes and/or floods) with the AAL estimated as part of well-known studies. Identified, described, and characterised adaptation options to improve climate resilience of those sectors. For most measures, information on cost-benefit ratios and net present value calculations were identified through literature review. Based on this analysis, technical risk mitigation options and risk transfer options (insurances) were developed.