NASA says climate change is a long-term alteration in the average weather patterns that has come to define Earth’s local and global climates. Global effects have been observed that can be debilitating for business, international commerce, and economic growth in some cases.
The relationship between climate change and trade flows in two different directions. Climate change is caused by the impact of business operations on production, production, transport, and general operations. The pollutants that damage the ozone layer cause rising sea levels, higher temperatures, storms, and hurricanes, which destroy resources and affect economies, reducing their ability to produce goods and services.
The Caribbean region is often regarded as a disaster-prone area. Here, earthquakes, flooding, volcanic eruptions, and hurricanes can cause serious economic losses and death. The frequency and intensity of natural disasters around the world are increasing rapidly due to climate change. Caribbean economies are encouraged and encouraged to examine how they can improve disaster risk reduction and management (DRRM).
The Caribbean Disaster Emergency Management Agency, (CDEMA), has stated that the small island developing countries of the Caribbean are still highly vulnerable and at risk. They are also being exposed through their development practices. It is important that we remember that Caribbean countries such as Trinidad and Tobago are more vulnerable than just changes in the environment. They also face extreme macro-economic volatility and are plagued by productivity and competitiveness problems. They are also characterized by single-sector economies such as those that are energy- or tourism-based.
T&T was affected by two days of torrential rains that caused flooding in October 2018. The Government reported that 80 percent affected the country, which included 3,500 households, between 100,000-120,000 persons, 21 schools, and 550 food establishments. 17 farms lost animals, commuters were stuck, bridges collapsed, and businesses and public offices had to close or relocate. Although the government activated its National Emergency Operations Centre to assist, many of these incidents could be avoided and/or mitigated by a strong disaster management system.
Disaster risk reduction management (DRRM) systems
It is clear that there must be a focus on mechanisms that protect people and businesses from the negative effects of climate changes. In order to help the Caribbean business community and society remain resilient, it is important to highlight the importance and efficacy of disaster risk management systems. These assumptions are made when you do this:
To plan for these unforeseen events, countries have created policy space
There are mechanisms that can be used to help businesses who face unprecedented climatic changes.
A DRRM system will require a multi-dimensional approach in order to achieve climate change resilience. This will involve the government, business community, and society as a whole in developing risk management strategies, metrics, and targets to deal natural events that are likely or will be occurring in the country’s geographical region. DRRM systems lower the vulnerability of the countries they are used to. The following is a guideline for advocating DRRM in the Caribbean.
I. Rapid response: It is crucial to create and maintain a rapid-response team that includes business services such banks, insurance, transport logistics, food distribution and transport logistics.
II. Early warning systems: Companies should collaborate with those who are involved in the development of hardware, software, and communication portals that can be used to improve procedures and mitigate disaster risks.
III. Education: DRRM should be included in the education curriculum starting at the primary school level in a more comprehensive way.
IV. Disaster Insurance: Work together to provide disaster insurance coverage for the Caribbean. Trinidad and Tobago is a member of The Caribbean Catastrophe Insurance Facility. This will allow the region to pool its disaster resources.
V. New Standards. Working with the national quality-standards mechanism and the planning and developmental agencies can ensure that building codes and their validity are regularly checked and updated.
VI. Join networks such as UN ARISE: Private sector entities are encouraged join ARISE in its Mission of creating risk-resilient society by promoting, supporting and integrating disaster risk and preparation into investment decisions.
According to the United Nations Office for Disaster Risk Reductions (UNISDR), resilience can be defined as the ability of a system, society, or community to resist, absorb and accommodate to the effects of a hazard. It also includes the preservation and restoration essential structures and functions.
Real resilience in Trinidad and Tobago and The Caribbean will require forward thinking and transformation.
This article was written by Leeooi-Oneika Emmons, trade analyst at our Trade and Business Development Unit.
