Many multinationals that rely on suppliers in developing countries for their raw materials are acutely aware of the risks posed by climate change.
The challenge is converting that understanding into concrete strategies that can help communities prepare for and survive the impact of climate change. This may range from water scarcity in some areas to devastating floods in others.
A lot is riding on the involvement of the private sector, because, as development experts point out, there is a yawning gap between the funds pledged to address climate change adaptation and the estimates of $50bn-$100bn a year that developing countries would actually need.
So what are businesses doing? A number of them are working with development agencies, multilateral institutions and each other on key resource issues such as water.
At least investment in adaptation will have a positive impact since the only thing you can do is get better at responding to change – whether that is warmer. colder, drier or wetter.
Three billion years of evolution have proven that the most important characteristic to survival is adaptability.
Any resources directed to schemes to resist environmental change (going green) by reducing CO2 emissions, to ‘correct’ environmental change (CCS) by removing CO2 from the air, or to punish (cap & tax) those who continue to emit CO2 can only divert resources from Adaptation, leaving Civilization more vulnerable to change.