New climate smart map on the way

Price Waterhouse Coopers (PwC) has partnered with the Caribbean Climate-Smart Accelerator (CCSA) to launch a climate smart map at COP28 in Dubai, aimed at bolstering climate resilience across the region.

The interactive platform consolidates climate action data from over 26 countries, providing a tool to empower decision-making for resilience and sustainability.

It aligns stakeholders with climate targets, offering specific guidance for philanthropists, investors and other partners while actively supporting private sector actions in harmony with government initiatives.

Zia Paton, partner and consulting leader at PwC TT, says there is an urgent need for tangible solutions to drive greater climate resilience in the region.

Even though the Caribbean region contributes less than one per cent, she said the impact of climate change is disproportionately severe, with costs from adverse weather events for the region accounting for close to 40 per cent of total global damages.

“For some Caribbean countries, losses exceed the size of their economy and range up to 225 per cent of GDP for just one event, according to the IMF. The roadmap provides a path to tangible solutions desperately needed for driving greater climate resilience for the region.”

PwC's collaboration with CCSA involves a team of specialists from PwC regionally and globally, along with a team from PwC India, offering a blend of local insight and global best-in-class guidance on climate-smart actions.

Racquel Moses, UNFCCC's global ambassador and CEO of CCSA, expressed enthusiasm about the map's launch, saying it marked a significant step towards realising the vision of the Caribbean as the world's first climate-smart zone.

The project focuses on comprehensive climate data collection to align goals and identify strategic investment opportunities across the region.

CCSA's approach to defining the climate smart zone includes extensive stakeholder consultations across the public and private sectors in the region, with ongoing engagement expected as the roadmap is developed.