Governments in the region have implemented several poverty-reduction programmes. However, policies of income redistribution and poverty alleviation do not necessarily improve climate risk management, so complementary policies integrating both social and material conditions are required. A study in northern Brazil showed that risk management strategies for droughts and food insecurity did not change poverty rates between 1997-1998 and 2011-2012. Major shocks, such as climate and extreme weather events , reduce and destroy public and private property. For instance, the ENSO event of 2017 in Peru caused losses estimated between USD 6 and 9 billion, affected more than a million inhabitants and generated 370,000 new poor. In total, losses by unemployment, deaths, destruction and damage to infrastructure and houses were around 1.3% of the GDP of Peru.
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report