May 25, 2016

Presentation of the Fomin/NDF Study “Markets for Climate Resilience in Latin America, Africa and Asia: Private sector opportunities”

"The challenges currently posed by climate change pale in significance compared with what might come. So why isn't more being done to address it? Climate change is the Tragedy of the Horizon. We don't need an army of actuaries to tell us that the catastrophic impacts of climate change will be felt beyond the traditional horizons of most actors." - Mark Carney, Governor of the Bank of England

Successful businesses must interpret the early signals of climate risk, build organizational leadership and invest in effective solutions. The private sector already leads climate resilience solutions for many sectors. The challenge is to understand, cultivate and rapidly enlarge the private sector market for climate resilience.

Yet, much of what the private sector does to achieve climate resilience is hidden—labeled differently, commercially sensitive or just not communicated with policy makers. This impedes effective policymaking and perpetuates the myth that the private sector is shortsighted. Much needs to be learned about private innovation in climate resilience. Private solutions can protect many types of assets, property, and businesses from climate risks, and in turn strengthen the global response to climate change— while also generating economic opportunity and social benefits. Private climate resilience solutions can be achieved at a scale where climate variablility is the ‘new normal’. represents the best form of “insurance” for many enterprises and communities.

The Climate Resilience Markets Project will develop a methodology to assess the climate resilience market that highlights innovative resilience solutions in the private sector. The assessment will inform and encourage investment, leverage public-private partnerships and targeted strategies to build climate resilience programs across the globe.

The project builds on six country assessments that ground innovation in real stakeholder communities. Local partnerships with a global team focus on agriculture and transportation in Colombia, South Africa and The Philippines, along with early engagements in Nicaragua, Kenya and Vietnam. e enterprise-oriented, resilience-market approach focuses on primary exposure pathways and business processes for agriculture and transport.

Our launch panel begins with the key question: What are the opportunities for the private sector in achieving climate resilient societies and economies? We approach this topic as market construction—learning what works now, developing sound strategies for the climate challenges to come. Private sector leadership on climate resilience involves Business Champions, Business Intelligence and Business Cases for innovation and investment.

The project is designed to build capacity in the emerging Community of Practice on private sector climate resilience. The Oxford Adaptation Academy is a partnership with the University of Oxford’s Smith School for Enterprise and Environment. The 2016 course in Oxford features private sector adaptation and our core team will be both participants and tutors.

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