BRIDGETOWN, Barbados, November 4, 2021 - The Caribbean Development Bank (CDB) today proposed its Recovery Duration Adjuster (RDA), a vulnerability and resilience framework, which better reflects the economic, social, and environmental conditions of small island developing states at the United Nations Climate Change Conference (COP26) now underway in the United Kingdom.
“The Recovery Duration Adjuster 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,” CDB President Dr. Gene Leon explained.
The RDA was presented at the Caribbean Community pavilion at COP26, which is scheduled to run from November 1-12 at the Scottish Event Campus in Glasgow.
The CDB President participated in several high-level conference events, including the World Leader’s Summit on November 1; the Multilateral Development Banks’ Panel on Nature on November 2.
Dr. Leon will participate in 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.