Cabo Verde’s climate vulnerabilities stem from its economic dependencies and geography. Despite having experienced growth, tourism dominates the economy and reliance on imports exacerbates external vulnerabilities. The COVID-19 pandemic accentuated these risks, revealing the urgent need for climate resilience. The Country Climate and Development Report outlines actionable strategies to enhance adaptation and promote sustainable practices across key sectors.
Cabo Verde faces significant climate vulnerabilities exacerbated by its economic challenges and geographic characteristics. While the country has recorded steady economic growth since the early 1990s, recent years have seen a decline in this growth. Tourism serves as the primary economic driver, contributing to a significant part of the GDP, exports, and foreign direct investment. Consequently, Cabo Verde heavily relies on imports for essential goods, particularly fuel and food.
The country’s economic stability is influenced by high remittances and international financing, though these also introduce external vulnerabilities. Cabo Verde’s public spending is constrained, and the public debt has surpassed 100% of GDP. The COVID-19 pandemic highlighted the nation’s economic fragilities, resulting in a dramatic drop in tourism revenue and rising import costs before a recovery in 2023. This report details strategies for enhancing climate resilience and promoting low-carbon development while identifying essential enabling factors.
The Country Climate and Development Report (CCDR) begins by estimating the economic and social impacts of climate change. It then examines the legal and institutional frameworks relevant to climate resilience. Moreover, it explores strategies for a climate-resilient economy through integrated management of land and water resources, as well as advancements in the blue economy and infrastructure.
Subsequent chapters address the need for a green transition across vital sectors, including energy, transport, waste management, and digital technology. The report emphasizes vital actions to bolster the private sector and strengthen social protections to enhance community resilience to climate shocks. Finally, it discusses the necessary skills development and improvements to the health system required for sustainable growth.
The concluding chapter synthesizes recommendations from earlier sections, outlining their costs and benefits while modeling their anticipated economic impacts. By focusing on adaptation and sustainability, Cabo Verde can enhance its resilience to climate change and secure a more stable economic future.
Climate change poses severe threats to nations worldwide, particularly those like Cabo Verde, which are susceptible due to their geographic conditions and economic stature. The CCDR is essential in addressing these vulnerabilities while proposing pathways to low-carbon development. Understanding the interplay between economic factors and climate resilience is vital for small island nations, which rely substantially on tourism and suffer from import dependencies.
Cabo Verde’s recent economic performance has underscored the interconnectedness of climate change and economic stability. By emphasizing resilient practices and sustainable development, the nation can mitigate future vulnerabilities. The CCDR’s findings present a roadmap for addressing the challenges posed by climate change through targeted interventions, enabling stronger economic foundations and long-term sustainability.
Original Source: reliefweb.int
