{
  "title": "Building Back Better",
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  "summary": "Steven Dorst writes that Finland and Dominica pursue innovative ways of coping with climate change.",
  "sections": [
    {
      "heading": "Finland’s wood innovations",
      "content": "- Objective and strategy\n  - Finland has set an ambitious target of becoming carbon neutral by 2035.\n  - The country shifted strategy toward replacing fossil-based chemicals and materials (plastic, concrete, and steel) with renewable raw materials such as wood and bio-based materials.\n  - Finland introduced the first carbon tax in 1990.\n- Natural and legal endowments\n  - 65 percent of Finland’s land is covered by forests.\n  - Finland’s Forest Act mandates that four trees be planted for every tree harvested.\n- Economic and environmental rationale\n  - Wood-based products can be recyclable, biodegradable, and hypoallergenic, with CO2 stored in cut wood for decades and even centuries.\n  - Many wood-based products are made from production by-products and residues or from materials recovered after product use.\n  - In a “circular bioeconomy,” products are bio-based, shared, reused, remanufactured, recycled, biodegrade, or are used for renewable energy.\n- Industry perspectives (direct quotes)\n  - “Replacing fossil fuels and materials such as plastic or concrete and steel used for building with wood and bio-based materials limits the carbon emissions to the atmosphere,” — Lotta Heikkonen, chief specialist with Finland’s Ministry of Agriculture and Forestry.\n  - “They are also being shared, reused, remanufactured, and recycled. Finally, they biodegrade or are used for renewable energy. Trees grow back, absorbing CO2, and so the cycle continues.” — Timo Heikka, vice president of stakeholder relations at Stora Enso Oyj.\n  - “This is where molecular wood-based biochemicals play a key role.” — Jyrki Ovaska, Chief Technology Officer, UPM.\n- Policy needs and IMF engagement\n  - Although carbon emissions in Finland are already subject to significant pricing, additional measures are needed to achieve the 2035 emissions neutrality goal.\n  - The IMF is working with Finland on additional energy pricing and sectoral measures to help bridge the gap.\n- Limitations noted\n  - Biomass alone cannot replace all materials produced from fossil and mineral sources.\n  - The wood-based approach may not work for all countries due to climate differences and trade-offs between agriculture and tree growth."
    },
    {
      "heading": "Dominica develops resilience",
      "content": "- Context and motivation\n  - Dominica is a Caribbean island situated in “Hurricane Alley,” with rugged topography, dense mountain rain forests, nine active volcanoes, and most of the country’s 72,000 denizens living along the coast.\n  - Extreme climate events have grown more frequent and severe.\n- Crisis trigger and response\n  - In 2017, Category 5 Hurricane Maria caused $1.2 billion in damage in just a few hours.\n  - Post-Maria, building back better and becoming a more resilient nation became the government’s central mantra.\n- Costs, benefits, and financing challenges\n  - Rebuilding to climate-resilient standards would cost 25 percent more than traditional methods.\n  - The country had suffered damages totaling 226 percent of GDP.\n  - Benefits of resilience investments materialize only over time, complicating financing choices.\n- Evidence of effectiveness\n  - The airport, made operable after 2015 Tropical Storm Erika by building back better, was up and running a few days after Hurricane Maria.\n  - Communities rebuilt to new resilience standards remained intact after Hurricane Maria.\n- Strategic priorities and investments\n  - Upgrading and expanding the road network, including raising bridges to allow for water and debris overflow.\n  - Building resilience into the housing sector.\n  - Upgrading hospitals and health centers.\n  - Supporting resilient agriculture for food security, education, reforestation, and community preparedness training.\n- Equity and international dimensions\n  - As a small island state that did not cause global warming, Dominica bears disproportionately the costs of adapting.\n  - “If we want to make a meaningful contribution to helping small states adapt to climate change, then the international community needs to step up,” — Francine Baron, CEO, Climate Resilience Execution Agency for Dominica.\n  - Dominica aims to become the first climate-resilient nation by 2030.\n- IMF collaboration\n  - The IMF worked with Dominica to understand probabilities and intensities of natural disasters, and the costs and benefits of building to new standards, informing a new framework and strategy."
    },
    {
      "heading": "Comparative insights and policy implications",
      "content": "- Different objectives, shared urgency\n  - Finland’s focus: mitigation through substitution of fossil-based materials and carbon sinks.\n  - Dominica’s focus: adaptation and disaster-proofing infrastructure and communities.\n- Common elements for effective climate action\n  - Ambitious targets (Finland: carbon-neutral by 2035; Dominica: climate-resilient by 2030).\n  - Use of local comparative advantages (Finland’s forest resources; Dominica’s targeted resilience investments).\n  - Evidence-based planning and international technical support (IMF engagement in both cases).\n- Policy recommendations implied by the cases\n  - Scale incentives and pricing mechanisms to reflect carbon externalities (Finland: additional energy pricing and sectoral measures).\n  - Invest in resilient infrastructure standards even if upfront costs are higher (Dominica: 25 percent higher cost but demonstrable benefits).\n  - Leverage circular bioeconomy principles where biologically renewable resources are abundant.\n  - Mobilize international support for small states facing disproportionate adaptation costs."
    },
    {
      "heading": "Key statistics and facts (verbatim)",
      "content": "- 65 percent (forest coverage of Finland’s land)\n- four trees be planted for every tree harvested (Forest Act mandate)\n- carbon neutral by 2035 (Finland target)\n- first country to introduce a carbon tax, in 1990\n- cut greenhouse gas emissions by about a fifth\n- 72,000 (Dominica population)\n- Category 5 Hurricane Maria, 2017\n- $1.2 billion (damage from Hurricane Maria)\n- rebuilding to climate-resilient standards would cost 25 percent more\n- damages totaling 226 percent of GDP (Dominica)\n- become the first climate-resilient nation by 2030 (Dominica goal)\n- September 2021 (publication date)\n\nSource: Building Back Better — STEVEN DORST, F&D Magazine, September 2021.\n\n---\n\n Content in this bundle\n\n- إعادة البناء على نحو أفضل\n  - إعادة البناء على نحو أفضل (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - إعادة البناء على نحو أفضل (PDF){rel=\"external\" type=\"application/pdf\"}\n- Reconstruir mejor● Finanzas y Desarrollo ● Septiembre de 2021\n  - Reconstruir mejor● Finanzas y Desarrollo ● Septiembre de 2021 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Reconstruir mejor● Finanzas y Desarrollo ● Septiembre de 2021 (PDF){rel=\"external\" type=\"application/pdf\"}\n- Building Back Better - IMF F&D\n  - Building Back Better - IMF F&D (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Building Back Better - IMF F&D (PDF){rel=\"external\" type=\"application/pdf\"}\n- Reconstruire en mieux\n  - Reconstruire en mieux (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Reconstruire en mieux (PDF){rel=\"external\" type=\"application/pdf\"}\n- Как построить лучше, чем было – Финансы и развитие – Нельзя терять время– сентябрь 2021 года\n  - Как построить лучше, чем было – Финансы и развитие – Нельзя терять время– сентябрь 2021 года (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Как построить лучше, чем было – Финансы и развитие – Нельзя терять время– сентябрь 2021 года (PDF){rel=\"external\" type=\"application/pdf\"}\n- 重建更美好 - 金融与发展 - 国际货币基金组织季刊 2021年9月号·第58卷·第3期\n  - 重建更美好 - 金融与发展 - 国际货币基金组织季刊 2021年9月号·第58卷·第3期 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 重建更美好 - 金融与发展 - 国际货币基金组织季刊 2021年9月号·第58卷·第3期 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/fandd/issues/2021/09/finland-dominica-innovation-climate-change-dorst"
    }
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    "Authors: STEVEN DORST",
    "Published: September 2, 2021",
    "Objective and strategy",
    "Natural and legal endowments",
    "Economic and environmental rationale",
    "Industry perspectives (direct quotes)",
    "Policy needs and IMF engagement",
    "Limitations noted",
    "Context and motivation",
    "Crisis trigger and response",
    "Costs, benefits, and financing challenges",
    "Evidence of effectiveness",
    "Strategic priorities and investments",
    "Equity and international dimensions",
    "IMF collaboration",
    "Different objectives, shared urgency",
    "Common elements for effective climate action",
    "Policy recommendations implied by the cases",
    "65 percent (forest coverage of Finland’s land)",
    "four trees be planted for every tree harvested (Forest Act mandate)",
    "carbon neutral by 2035 (Finland target)",
    "first country to introduce a carbon tax, in 1990",
    "cut greenhouse gas emissions by about a fifth",
    "72,000 (Dominica population)",
    "Category 5 Hurricane Maria, 2017",
    "$1.2 billion (damage from Hurricane Maria)",
    "rebuilding to climate-resilient standards would cost 25 percent more",
    "damages totaling 226 percent of GDP (Dominica)",
    "become the first climate-resilient nation by 2030 (Dominica goal)",
    "September 2021 (publication date)",
    "**إعادة البناء على نحو أفضل**",
    "**Reconstruir mejor● Finanzas y Desarrollo ● Septiembre de 2021**",
    "**Building Back Better - IMF F&D**",
    "**Reconstruire en mieux**",
    "**Как построить лучше, чем было – Финансы и развитие – Нельзя терять время– сентябрь 2021 года**",
    "**重建更美好 - 金融与发展 - 国际货币基金组织季刊 2021年9月号·第58卷·第3期**"
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