The Dominican Republic is highly vulnerable to climate change, adding excesses of herbaceous occasions and slow changes, such as the rise of temperatures or the degradation of forests, which have an effect on vital economic and social sectors, especially the deficient and vulnerable ones.
Although its contribution to global carbon emissions is small, it continues to rise as the country relies heavily on fossil energy resources such as coal. Further relief in their emissions will generate significant economic, social and environmental benefits and promote sustainability in key sectors such as energy, transport, agriculture and water.
Accelerating climate action will enable the country to reduce poverty and inequality, generate jobs, and contribute to more sustainable development, according to the World Bank Group’s latest Climate and Development Report for the Dominican Republic.
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Why is it to boost climate action in the Dominican Republic?
Opportunities for resilient and low-carbon growth for the Dominican Republic
The World Bank Group’s report on climate and evolution in the Dominican Republic highlights that the Dominican Republic can achieve its climate and evolution goals together, which will reap benefits for both Dominicans and the economy, despite high estimated investments in mitigation and adaptation. .
The additional report states that losses in fiscal accounts could represent just 19. 7% of the government’s total profits through 2050, in a situation where there are no climate replenishments. On the other hand, early action to reduce direct damage caused by crop erosion, flooding, sea-level rise and tropical storms can reduce potential macroeconomic impacts by up to 60% by 2050.
To accelerate its goal of net-zero emissions by 2050, the Dominican Republic will need to undertake even more ambitious mitigation and decarbonization efforts across all sectors of its economy. This includes implementing actions to reduce pollution, protect biodiversity, improve public health, and create green jobs in agriculture, energy and tourism.
The report highlights how climate change provides an opportunity for competitiveness, employment and social coverage by improving the productivity, flexibility and cutting-edge capacity of the workforce.
Discover the report to learn about Dominican Republic’ opportunities and potential for more inclusive and resilient development. Download it here.
A report released today by the World Bank highlights the potential of climate action to promote economic growth and poverty reduction in the Dominican Republic.
Miguel Ceará Hatton, Minister of Environment and Natural Resources of the Dominican Republic, shares the report’s findings with countries in the Latin American and Caribbean region.