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Why We Must Engage the Private Sector in Climate Change Adaptation Efforts

Alan Miller's picture

 Lauren Day/World Bank

Late last month, I retired after spending more than 30 years in the climate arena, the last decade as a principal climate change specialist at the International Finance Corporation.

During the span of my career, climate change has moved from the sidelines to be recognized as a serious development challenge. And while we’re still far from achieving the international commitments needed to avoid potentially dangerous and even catastrophic climate events, much has been accomplished.

Scientists have reached near-consensus about climate change and its impacts. We’ve also seen the creation of several significant donor-supported climate funds, as well as a steady increase in policy and financial support for climate-friendly technologies.

In one critical respect, however, we need more progress: making the private sector a partner in helping nations build resilience and adapt to climate change.

Save the chocolate and the planet

Alan Miller's picture

With Durban climate change meetings around the corner, discussion on the long-term risks to Africa and the severity of recent extreme events has understandably increased – for example, hot, dry weather that could make farming more challenging for large parts of Africa.

These changes will almost certainly affect all of us at least indirectly, as populations are forced to migrate, disaster relief costs escalate, and increased uncertainty lowers market returns and economic growth.

But it may help to appreciate the true meaning of the expected changes from climate change to consider some of the less dramatic – but far reaching – smaller impacts that will affect all of us in a myriad of ways in our daily lives. A good example is recent predictions of climate impacts on some of our favorite foods – not necessarily life shattering, but a big part of our daily rituals and pleasure in life. Consider three in particular: coffee, chocolate, and wine. The first two are particularly important agricultural exports for Africa.

Starbucks recently announced concerns about the future of its supply chain due to the impacts of climate change. Short-term impacts are already evident due to floods in key coffee growing nations such as Columbia. The Union of Concerned Scientists observes that coffee growing is tied to specific locations such that even small changes in temperature can affect production and increase exposure to pests and disease.