Roadmap for Integrated Climate Risk Management: Climate Risk in Barbados' Renewable Energy Sector
The roadmap focuses on opportunities for risk transfer, particularly through insurance mechanisms in the Barbados solar photovoltaic (PV) sector. Risk transfer instruments, such as insurance, are increasingly being used by governments, businesses, and households to reduce the immediate and long-term losses associated with extreme weather events. The potentially catastrophic nature of climate risks in the Caribbean, particularly in the context of climate change, means that risk transfer is likely to play an important role in building resilience. The document makes recommendations about immediate, short, medium, and long-term actions primarily related to scaling up the potential role of risk transfer in integrated climate risk management in the Barbados solar PV sector.




