At the last international climate change talks in Doha, climate change adaptation seemed to gain greater priority than it has in the past. Madlen King - Global Head of Climate Change & Sustainability at LRQA – shares her insight on Adaptation and its implication for the global carbon markets.
The reports given and the decisions that were made in Doha recognised that increased action and support for climate change adaptation is required. The adaptation fund reported the approval of funding for adaptation projects to the value of $166 million and the preparation of 48 National Adaptation Plans (NAP’s); a three-year work plan for the Adaptation Committee was agreed, to promote coherence in adaptation; funding was agreed to assist the development of NAP’s for the Least Developed Countries; and in the future we are likely to see an annual Adaptation Forum, held in conjunction with the COP.
So adaptation to the impacts of climate change is now most definitely a key issue for governments and business and has to be balanced equally with actions to mitigate emissions.
I believe that the necessity is now being increasingly felt by the business community because the benefits are more tangible.
A business can much more easily see the immediate and direct benefits to their operations of a risk that has been averted or an opportunity that has been realised, than they can from emissions that have been reduced.
Don’t get me wrong - organisations of all types must still strategically focus on reducing their climate change impacts, however if its resources are not equally invested in adapting to those impacts then it places its long-term viability at risk.
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