Miami has the largest amount of exposed assets and the fourth-largest population vulnerable to sea-level rise in the world.
In most developing economies, Micro, Small, and Medium Enterprises (MSMEs) employ up to 78 percent of the population and account for approximately 29 percent of the national GDP. Their presence in communities throughout the world– big and small, rural and urban – allows them to get products and services to hard-to-reach populations. This market concentration and high level of employment means MSMEs are in a good position to contribute to making vulnerable populations more climate-resilient.
But while MSMEs can assist in helping vulnerable households adapt to climate change, they are also extremely vulnerable to the impacts of a warmer world, such as intensification of precipitation and shifts in water availability. It’s important that MSMEs overcome these challenges and capitalize on their unique business opportunities in ways that help vulnerable communities adapt to climate change.
Multinational companies (MNCs) typically have operations and supply chains in many parts of the world. The way they respond to climate change, therefore, can affect many populations, including poor communities in developing countries, where many people are especially vulnerable to heat waves, sea level rise, and other climate change impacts. MNCs sometimes find themselves in tension with local groups and the environment, but they can also play an important role in making these communities more climate-resilient.
Here are three ways that MNCs can contribute to climate change adaptation in developing countries:
Adapting to the impacts of climate change—like heat waves, increased floods, and natural disasters—is an enormous challenge. It’s also one that comes with an enormous price tag. Although it’s difficult to calculate the extent of the costs, the World Bank estimates that developing countries need $70 to $100 billion USD per year through 2050 to meet their current and future climate adaptation needs.
The Climate Policy Initiative, however, estimates that in 2011, only $4.4 billion USD in adaptation finance went to developing countries. This leaves a gap of anywhere from $65.6 to $95.6 billion USD per year between what developing countries need and what developed nations are giving.
So who can help fill this gap?
The unexpected rise in food prices in 2008 had a complex causality, with climate variability acting as an important trigger. This was followed by the financial meltdown in 2009 and high food prices again in 2011-12. These complex crises,
While working on tracking adaptation finance for our Adaptation Finance Accountability Initiative project, we often get the question “What is adaptation finance?” or “What counts as adaptation finance?” To our embarrassment, we still don’t have a clear answer to either question, other than “Well… finance that funds efforts to adapt to the impacts of climate change qualifies as adaptation finance.”
We aren’t the only ones who struggle to define the very issue on which we work. Even some of the definitions that the Organisation for Economic Cooperation and Development (OECD) and multilateral development banks are developing do not provide a complete answer to the question of what types of investment are considered to be adaptation finance.
We decided to do some soul-searching on this subject. While it’s still too complicated to provide a cut-and-dry definition of adaptation finance, we identified three common traits surrounding the issue: Adaptation finance is context-specific, dynamic, and not just about finance.
“The time to act is now… We cannot afford to do nothing.”
This was the message of Mayor Will Sessoms from Virginia Beach, VA, delivered last Friday at a conference on "Adaptive Planning for Flooding and Coastal Change." Like so many cities along the Atlantic coast, Virginia Beach is at the frontlines of climate change, experiencing impacts like sea-level rise and recurrent coastal flooding. But as we learned at the event, the city and its surrounding communities are emerging as leaders in engaging in initiatives to address these issues.
“We are not as well prepared as we need to be to address the full scope of projected realities in the year 2100” Mayor Sessoms stated, “and we can, and must, make continued improvements.” His message was echoed by a group of bipartisan mayors and state delegates, city planners, legal experts, and university scientists. They stressed that while state and federal governments often struggle to move beyond the political debate of whether manmade climate change is happening, residents of the Tidewater area of Virginia are focused on developing a robust response to rising seas and recurrent coastal flooding.
Mayor Sessoms’ sentiments paralleled the earlier statements of Democratic Mayor Paul Fraim from Norfolk, VA that "[t]his is one of the greatest threats of our lifetime,” and “a threat that we can no longer afford to ignore."
As I prepare to take part in an event on hurricanes and extreme weather in Miami, Florida later today, it’s clear just how much climate change threatens the state’s local communities. Florida is the most vulnerable U.S. state to sea-level rise, with seas projected to rise along the state’s coast by as much as 2 feet by 2060--threatening valuable infrastructure, homes, and communities. Even Superstorm Sandy--which had the greatest impacts in New York and New Jersey--caused significant damages along Florida’s east coast while centered miles offshore. Rising seas contributed to Sandy’s storm surge and tidal surges, causing flooding throughout Miami-Dade County and sweeping away portions of State Road A1A in Fort Lauderdale.
But as overly concerned as I am of the climate change impacts Florida faces, I’m also encouraged. Florida has something that few other states have: A bipartisan collaboration to address global warming’s disastrous impacts.
Advancing effective, equitable adaptation finance systems to build resilience in a changing climate
How can we make climate change adaptation measures more effective? I recently traveled to Dhaka, Bangladesh to discuss ways to address that very question.
At the 2009 U.N. climate change conference in Copenhagen, developed nations committed to provide a collective $100 billion per year by 2020 to help developing countries mitigate greenhouse gas emissions and adapt to climate change’s impacts. Recently, the Organization for Economic Co-Operation and Development (OECD) released some surprising new data on this pledge. The figures indicate that developed nations’ recent climate finance contributions have fallen rather than risen toward the level of their 2020 commitment.
As the world continues to feel the effects of drought, sea level rise, and more volatile weather, it’s clear that adaptation efforts have never been more imperative. These initiatives are critically important in order to protect communities—especially in impoverished places—from the worsening impacts of climate change.
I spent the recent U.N. climate negotiations in Doha trying to reconcile two injustices. The first is captured by Nicholas Stern’s “brutal arithmetic.” This is the simple, unavoidable fact that bold greenhouse gas emissions reductions will be needed from all countries to hold global temperature increase to 2°C above pre-industrial levels, thus preventing climate change’s most dangerous impacts. Developing nations, many of which are battling crippling poverty and inequality at home, are being told that the traditional, high-carbon pathway to prosperity is off-limits, and that they, too, will need to embrace aggressive mitigation actions. This is a glaring injustice – the product of two decades of missed opportunities in the United Nations Framework Convention on Climate Change (UNFCCC), inadequate domestic action in industrialized countries, and substantial geopolitical changes in major emerging economies.
Water is a scarce resource in India, especially in the state of Maharashtra, where most rainfall is limited to the monsoon season from June through September. The Government of India has long promoted a Participatory Watershed Development (PWD) approach to deal with this scarcity.
"Think globally, act locally" is a slogan that aptly describes what I witnessed last week at the 4th Annual Southeast Florida Climate Leadership Summit. At the event, local government officials from four counties gathered to discuss how to mitigate and adapt to climate change’s impacts.
It is well-established that global warming has resulted in global sea-level rise. Since 1870, average global sea level has risen by about 8 inches. As the climate has become increasingly warmer, the annual rate of sea-level rise has accelerated.