Cost-Benefit Assessment of Jamaica's Long-Term Emissions Reduction and Climate Resilience Strategy for 2050

Project description

This project aimed to assess the costs and benefits of Jamaica’s LTS at both national and sectoral levels to support decision-making and prioritize key components that maximize climate and development benefits. The analysis covered financial and non-financial aspects, including social, economic, and environmental benefits, and address key uncertainties and sensitivities. The methodology used was Robust Decision Making (RDM), along with open-access models, which has been implemented in countries such as Costa Rica, Peru, Chile, and the Dominican Republic, among others, to design or evaluate long-term strategies. This participatory, model-based approach allows for the evaluation of multiple plausible pathways, enhancing stakeholder understanding and facilitating LTS implementation. The project involved three in-person workshops, and a capacity building plan on the developed models. In addition, the study analyzed the impact of the LTS on macroeconomic indicators, such as employment and Gross Domestic Product (GDP). The study seeked to maximize the understanding of the benefits of transitioning to a low-carbon, climate-resilient economy, avoiding carbon lock-in and maladaptation, and ensuring an equitable distribution of costs and benefits across Jamaican society.