BRIDGETOWN, Barbados (CMC) — The Caribbean Development Bank (CDB) says it will propose the Recovery Duration Adjuster (RDA), a vulnerability and resilience framework which better reflects the economic, social, and environmental conditions of small island developing states (SIDS), at the United Nations Climate Change Conference (COP26) in Scotland.
“The RDA integrates the impact of economic, social, and climate-related shocks on growth and welfare in SIDS. It focuses on measuring the internal resilience capacity of SIDS, which, because of their peculiar vulnerabilities and state of development, face the reality of much longer recovery time from a shock compared with developed nations,” said CDB President Dr Gene Leon.
The RDA will be presented at the Caricom pavilion on Thursday during COP26, which runs until November 12 at the Scottish Event Campus in Glasgow.
Leon will participate in several high-level conference events, including the Multilateral Development Banks’ Panel on Nature on November 2; and the COP26 Ministerial Dialogue on Adaptation Action on November 8, where he will join Odile Renaud-Basso, president of the European Bank for Reconstruction and Development, and Axel van Trotsenburg, World Bank managing director of operations, in a discussion on finance for climate action.
On Monday, November 8, the CDB president will also take part in a roundtable discussion with Vice-President Ricardo Mourinho Félix of the European Investment Bank on how to accelerate adaptation investments in small island developing states.