SICA: Promoting ideas on Green Recovery in Central America and the Dominican Republic
Project description
Title: Ideas for Green Recovery in Central America and the Dominican Republic
Commissioned by: German Federal Ministry for Economic Cooperation and Development (BMZ)
Country: Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras
Lead executing agency: General Secretary of the Central American Integration System (SG-SICA)
Overall term: 2021–2024
Context
The COVID-19 pandemic led to a collapse of the economy in Central America and the Dominican Republic. Most entrepreneurial business models lack competitiveness and long-term orientation. A transition to green and resilient business models is urgently needed, but there is a marked lack of incentives and support for such a transition. The exchange of experiences and knowledge regarding Green Recovery is also insufficient. Accordingly, companies are neither implementing enough measures to deal with the consequences of the pandemic, nor are they using natural resources in a sustainable manner. This greatly reduces biodiversity, and the necessary adaption to climate change does not take place.
Objective
Companies in Central America and the Dominican Republic are increasingly using Green Recovery solutions to cope with the COVID-19 pandemic.
Approach
The program promotes green innovations and the implementation of Green Recovery solutions in companies, including measures to address the social, economic and environmental consequences of the COVID-19 crisis. This will drive the transformation to environmental friendliness, resilience and climate neutrality.
To accomplish this goal, the program organizes two regional idea competitions and supports participating organisations in implementing the identified and selected measures. It also strengthens the transfer of Green Recovery knowledge in the private sector by providing support for the Central American Commission for Environment and Development (CCAD) in its organisation of an annual regional conference. In addition, the project works with business networks in the region to identify good practices and innovative approaches, making them visible and thus usable for more entrepreneurs.
As at: December 2021