A new Caribbean Monthly Economic Report is sounding the alarm as climate impacts intensify across the region.
The report highlights the disappointing outcome of COP30 in Brazil, where world leaders again failed to agree on a fossil fuel phase-out or concrete plans to keep global warming below 1.5 degrees Celsius.
It comes as Jamaica continues to grapple with the devastation of Hurricane Melissa, with damages now estimated at 8 billion US dollars—over 40 percent of its GDP—leaving thousands homeless and sparking fires and disease outbreaks.
Experts warn that hotter, low-income countries like those in the Caribbean face the greatest economic losses from rising temperatures, and are urging new financing solutions, including diaspora-backed climate funds and expanded parametric insurance.
