The lessons COVID-19 holds for climate change policies

The effects of the COVID-19 pandemic on the economy will serve as lessons about the economic and financial damage climate change could cause.
“Both are non-financial risks, but they have systemic effects both on a real economy and financial market level,” Gianleo Frisari, the Inter-American Development Bank’s (IDB) climate change senior specialist said during a webinar.
Also, both crises are “non-seasonal, in the sense that their evolution isn’t linear, and their impacts are regressive in the sense that they hit more vulnerable populations,” he added.
Frisari warned that the vulnerabilities created by the COVID-19 crisis could amplify the effects of climate change-related events.
The main difference, however, is that the pandemic poses an immediate risk, leaving little room for preparation, while preparation for climate change is possible.
“We’re seeing how the perspective of many financial institutions is changing,” Frisari said, adding an IDB/Reuters poll last month among European and North American investors found that most had either started or were planning to start an analysis of environmental, social, or governance risks in emerging markets.
The executive also said Latin America has advanced with green financing, while the bank has increased its climate change-related financing, aiming for 30% of total operations in 2023.
The IDB, according to Frisari, is advancing an electro-mobility program to facilitate public transport, which is “central for both” crises.
“At IDB we’re supporting many cities to re-think how to reorganize transport,” he told BNamericas.
Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.
News in: Political Risk & Macro

Cobre Panamá dispute unlikely to go to litigation, says economist
The Canadian miner reported preliminary record copper production at the flagship mine of 350,000t in 2022.

Ecuador's national assembly receives mining reform bill
An indigenous lawmaker, Salvador Quishpe, introduced a bill that forces companies to do mining the right way, he told BNamericas.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: Los Molles solar park
- Current stage:
- Updated:
4 days ago
- Project: Las Bambas expansion (EIS third modification, Ferrobamba-Chalcobamba)
- Current stage:
- Updated:
4 days ago
- Project: ITC: Cáclic – Jaén Norte link (2 circuits), Expansions and Associated Substations
- Current stage:
- Updated:
3 days ago
- Project: Ica - Poroma transmission line, expansions and associated substations
- Current stage:
- Updated:
3 days ago
- Project: Ouro Branco 2 wind farm
- Current stage:
- Updated:
3 days ago
- Project: Boa Sorte 5 photovoltaic plant (Boa Sorte solar complex)
- Current stage:
- Updated:
4 days ago
- Project: Boa Sorte 4 photovoltaic plant (Boa Sorte solar complex)
- Current stage:
- Updated:
4 days ago
- Project: Nuevo Laredo 4/5 International Bridge
- Current stage:
- Updated:
4 days ago
- Project: Celaya rail bypass (Ferroférico)
- Current stage:
- Updated:
4 days ago
- Project: Orbital Sur highway
- Current stage:
- Updated:
4 days ago
Other companies
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Grupo Argos S.A.  (Grupo Argos)
-
Grupo Argos S.A. is a Colombian holding company focused on investments in the infrastructure industry. The group is made up of five companies: Cementos Argos (55.34%), engaged i...
- Company: Vestas Wind Systems AS  (Vestas)
-
Danish wind power solutions company Vestas Wind Systems (Vestas) develops, produces, installs, and services onshore wind turbines. Through the joint venture MHI Vestas Offshore ...
- Company: Wärtsilä Oyj Abp  (Wärtsilä)
-
Wärtsilä Oyj Abp (Wärtsilä Corporation) is a Finland-based global corporation providing technologies and solutions for the marine and energy markets. It is divided into three bu...
- Company: Municipio de Tlajomulco de Zúñiga
- Company: General Electric Co.  (GE)
-
General Electric Co. (GE) is a US company engaged in the development, manufacture and marketing of various products for the generation, transmission, distribution, control and u...
- Company: Transmissora Aliança de Energia Elétrica S.A.  (Taesa)
-
Transmissora Aliança de Energia Elétrica S.A. (Taesa) is an unlisted company controlled by Brazilian power company Cemig. Taesa is the growth vehicle for Belo Horizonte-based Ce...
- Company: Calter - Brasil
- Company: Energisa S.A.  (Grupo Energisa)
-
Energisa is a Brazilian electricity holding company that controls 13 electricity distribution companies in the Brazilian states of Paraíba, Sergipe, Minas Gerais, Rio de Janeiro...
- Company: Casa dos Ventos Energias Renováveis S.A.  (Casa dos Ventos)
-
Casa dos Ventos Energias Renováveis S.A. (Casa dos Ventos) is a Brazilian wind and solar power developer that began operating in 2007. The company has been awarded projects in t...
- Company: Sigdo Koppers S.A.  (Sigdo Koppers)
-
Sigdo Koppers is a Chilean business holding company with operations on five continents and activities in the service, industrial, and commercial and automotive sectors. The serv...