EIB activity report EN

Page 30

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Even if we invest in innovative climate action, the impact of global warming will still be severe. Projects aimed at helping people and places in developing countries adapt to these dramatic effects are increasingly important.

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uch climate action focuses on cutting carbon emissions. But some effects of climate change are already happening, with often disastrous consequences. Projects that adapt people and places to these climate impacts are vital to the fight against global warming. This climate change adaptation doesn’t get as much media attention as electric cars, solar energy or wind farms, but it is just as important. Adaptation involves infrastructure, such as stronger bridges to withstand floods, new offices that use less energy or better roads that don’t wash away in storms. It can mean the simple addition of air conditioning in schools in Asia, or be as complicated as installing storm-drain systems throughout an African city. Adaptation ranges from agriculture and education, to healthcare and water supply, to countering desertification and coastal erosion. Island states or vulnerable regions in Asia and Africa need special assistance adapting, because they will be hurt most by climate change. They already suffer from rising sea levels, wildfires and more devastating storms. “Adaptation helps people avoid the worst impacts of climate change,” says Nancy Saich, chief climate change expert at the European Investment Bank. “But this work is not easy, so we are working more with our clients to understand their vulnerability to climate change and how we can help them take measures to build up their climate resilience.” More technical help and more money Across the globe, countries and cities are starting projects to prepare for the effects of climate change. Many of these projects need technical help and much more financing to succeed. In Laos, flooded roads cause huge problems every year. Landslides and flooding in the country cause frequent road closures that can last several weeks, preventing people from getting food at the market or visiting the doctor, while children often can’t attend school. The government is improving 1 400 kilometres of roads in rural areas to fight flooding and to repair damage from previous rains. The new roads will be stronger, use better materials and have improved drainage to reduce the number of road closures during bad rainstorms. “Developing countries are vulnerable because repairs and designs are not always based on extreme weather predictions, and the construction standards may be low because of budget constraints,” says Meryn Martens, a senior transport specialist at the European Investment Bank.

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2019 ACTIVITY REPORT


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