Climate Resilience and Investments
6 Feb 2018
The decision to invest in the Commonwealth of Dominica starts with recognizing the risks associated with the investment. Property investment relies on the resilience of a property to the climate and the natural disasters that may occur in Dominica. By evaluating the structure of an investment and discussing the resilience of a structure in relation to hurricanes and other risks, an investor will have the tools to make decisions about a specific property.
What is Climate Resilience?
Climate resilience refers to the ability to handle unexpected changes or problems within the environment. It generally relates to the risk of natural disasters and the ability for a building or structure to withstand the potential problems. It also helps the economy and local businesses recover after a disaster. In the Commonwealth of Dominica, a key consideration is the risk of hurricanes and other natural disasters. By preparing a structure, local businesses and residents for severe storms and natural disasters, the possibility of major repairs or economic challenges reduce and an investor can move forward with long-term plans.
Impact of Proper Development and Structure in an Investment
The Commonwealth of Dominica plans to create a climate resilient country. They provide guidance through building codes and physical zoning that helps developers create stronger structures. The standards take climate change into account and reduce the risk of damages from a storm. The standards use historical information, environmentally friendly building processes and new innovations to develop climate resiliency.
By developing a plan of action and creating a structure that takes climate change into account, an investor and local officials can avoid the risk of property damage. It also helps the government develop a strategy to improve the local economy by reducing the risks to the population from natural disasters and major storms. The government plans to stabilize slopes to reduce the risk of landslides. They also plan to set up guard rails and storm drains to reduce the risk of flooding and injuries during storms.
When an investor chooses to work on a development in Dominica, they must ensure that a structure has the proper development to reach their goals. Working with locals and evaluating a property’s structure, as well as the standards used during development, will allow an investor to make the right decision for their goals.
Preparing for Risks
Climate resilience means an economy, local area and even a single building prepares for the risks associated with the local environment. In the case of investing in the Commonwealth of Dominica, the risks to an investment property fall into two main categories: changes over time and natural disasters.
Climate change is an aspect of risk that may impact the future of the region. By preparing for potential changes, an investor ensures that a property will have the ability to handle more than the current risks. It evaluates the potential for harsher storms or more complicated disasters that may occur as the planet’s temperature continues to rise.
Climate resilience is an essential aspect of investing in Dominica. As an investor, you want to evaluate an investment in property or a business carefully and understand the risks in the local region. By working with locals and the authorities in the Commonwealth of Dominica, you will have the tools to identify the right investment for your goals. The government is taking the right steps toward climate resilience with CREAD and their plans for the future.