May 2015: The Inter-American Development Bank (IDB) has released a publication, titled ‘Climate Change Risk Management Options for the Transportation Sector’ in Latin America and the Caribbean, which identifies climate change risks and risk management options that can be incorporated into IDB-investments in the transportation sector.

The publication recognizes that climate change risk management measures range widely in scope, scale and timeframe, and that their applicability depends on the project or region of interest. It recommends that all projects include disaster preparedness measures, such as measures to issue timely and effective early warnings, evacuation and safety plans and business continuity plans, as well as a review of insurance schemes to minimize post-disaster losses. The publication also notes that, for new projects, selecting risk management measures during the feasibility and design phase can help avoid costly retrofits and maximize resilience to climate change impacts throughout the project life.

The publication organizes climate change risk management options in tabular format for a number of hazards impacting the transportation sector, including sea level rise, storm surge, hurricane winds, flooding, drought and extreme temperatures. It explains how each given risk management option addresses the relevant hazard and provides information on its relative cost and implementation feasibility. [IDB Press Release] [Publication: Climate Change Risk Management Options for the Transportation Sector]