Investing almost 2 billion to adapt to climate change could quadruple profits

The work «Adapt Now: A global call for leadership on climate resilience» has been presented by the World Commission on Adaptation on the urgency of adapting to climate change in ten cities around the world.

The report, backed by the Global Commission on Adaptation of the Global Center of Adaptation and the World Resources Institute, urges increasing global leadership to accelerate adaptation to climate change whose effects are already palpable, while exposing the growing threats of climate crisis and offers a new economic analysis of the benefits of each action.

For the authors of the study, presented among others by former UN Secretary General Ban Ki Moon, co-chair of the World Commission, and by the former executive secretary of the United Nations Framework Convention on Climate Change Christiana Figueres, accelerating adaptation is a human, environmental and economic «imperative» as climate change exacerbates existing inequalities worldwide, as it widens the distance between those who live in a healthy and economically healthy environment and those who live in poverty.

«Disproportioned» impact of climate change on women

In addition, the report recalls that climate change has a «disproportionate» impact on women, who currently have «little voice in decisions that affect their lives». «We will not accept a world in which only some can adapt to climate change and others cannot», says the study.

The authors also state that adaptation actions provide multiple benefits by allowing investments to reduce future losses; because it reduces risks, increases productivity and encourages innovation and, thirdly, because of the social and environmental benefits it provides.

Along these lines, it adds that numerous adaptation actions generate significant economic, social and environmental benefits. Thus, the study, which appeals to this «triple revolution» for a better future, points out that the clarity of the need for an ambitious adaptation is not moving to reality with the same scale of the need that is required. Specifically, it considers that the triple revolution must be carried out in the field of knowledge of the risks for society and the economies of not adapting, both for public and private actors.

Secondly, it requires a revolution in planning to improve investment policies and decisions in order to implement the different solutions. Third, it considers it necessary to undertake a revolution in finance to mobilize the funds and resources necessary to accelerate adaptation. The report states that all this revolution must be applied in food production; in the environment; in water and hydraulic resources; in the cities; in infrastructure and, finally, in risk and disaster management.

The study urges more urgently to implement adaptation strategies and recalls that the next 15 years are critical to mobilize climate action and boost global development goals and therefore want all countries to increase their level of ambition and show their commitments in the XXVI Climate Summit to be held in December 2020.

The Commission is headed by Ban Ki Moon, the co-director of the Bill and Melinda Gates Foundation, Bill Gates, and the director of the World Bank, Kristalina Georgieva who show the opportunity of the study at a time when the impacts of climate change are seen in the form of super hurricanes, floods and violent fires that are occurring more and more frequently and affects the population of all places.

The Global Adaptation Commission is made up of 34 commissioners from 20 countries from politics, business and the scientific world that work to identify solutions and direct adaptation against climate change.

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