This is the fourth installment of WRI’s blog series, Adaptation and the Private Sector. Each post explores ways to engage the private sector in helping vulnerable communities adapt to the impacts of climate change. See past posts.As the impacts of climate change become ever-clearer, so does the challenge of adaptation. While the World Bank estimates that developing countries will need $70-$100 billion annually through 2050 to adapt to climate change, the public sector alone cannot meet this financial goal. Rather, the world needs the human, technical, and financial resources of the private sector to help bridge this significant adaptation finance gap and make vulnerable communities more climate-resilient.National governments have a critical role to play in supporting and stimulating private sector investment in adaptation. In order to engage the private sector in helping vulnerable populations prepare for the effects of climate change, developing country governments can take three types of actions:1. Scaling Up Private Sector Investments for ResilienceSome private firms are already investing in adaptation – whether it is through designing or redesigning climate-resilient products, protecting their supply chains from extreme weather, or incorporating climate change into their philanthropic and community outreach endeavors. In these instances where the private sector is already investing in adaptation, government action is most useful in scaling up investments and ensuring that they reach vulnerable populations.Governments can do this by raising awareness about climate change and providing technical assistance to help companies in specific sectors adapt to its effects. Other options include concessional loans, match funding, tax credits for strategic adaptation investments, grants or subsidies, or extension of credit lines to the financial industry. The actions that governments take to support current adaptation investments will vary according to the maturity of the private sector, the type of the private firm, and the industry.Some governments, for example, may find that their agricultural sector will be particularly vulnerable to drought. They can investigate whether there are businesses in the agricultural sector that are already investing in making climate-resilient products and processes. If a business has created a water-pump system to reach deep wells that remain full during droughts, for example, governments might support this product by giving vouchers to small-holder farmers to purchase this pump.Making actionable information on climate change available and providing technical assistance can also support private sector action in an agricultural sector vulnerable to drought. For example, small-scale farmers may already be engaged in climate-smart agriculture practices, like planting trees to shade crops from the heat. But if the government provides these farmers with access to reliable precipitation forecasts, they can take greater precautions by collecting and storing rainwater for dry spells. Governments can also provide technical assistance in drip irrigation and other interventions that can safeguard crops from drought.2. Correcting Market FailuresWhile some private companies are already taking action, others have yet to invest in adaptation. In these cases, government action can help correct these market failures.Private firms are hesitant to invest in adaptation when climate-resilient investments present an added cost or a higher risk. Yet in many cases, this investment is necessary for the sustainability of the firm or the benefit of the community. Governments can address this inaction in a few ways. They can create policies that have indirect effects on building resilience among vulnerable populations–such as introducing tiered water-pricing schemes as a way to stimulate investments in water conservation. More judiciously managed water could help provide a stable supply in drought-prone regions. Governments can incentivize innovation, such as creating business competitions or small business incubators that stimulate the development of local climate change solutions. Governments can also set standards and regulation. Developing and enforcing climate-smart building standards, for example, would ensure that businesses invest in climate-resilient structures, such as hotels that can withstand storm surges or high winds if they’re located near the beach. Climate-smart zoning regulations might shift new hotel development back from the water altogether.Government actions in this category will again depend on maturity of the private sector, the type of the private firm, and the industry. Regulations, for example, won’t have the same effect on Micro, Small, and Medium Enterprises—which often operate in the informal sector—as they do on Multinational Corporations, which almost always conduct business in the formal sector.3. Public-Private PartnershipsThere are certain situations where private sector investments are unlikely. These typically occur when an investment is seen as a public good that is unprofitable, as is the case with water infrastructure, flood protection, social safety nets, and disaster management. The public sector is the main source of investment for goods and services like these. Nevertheless, governments can still urge the private sector to play a role, either by implementing government-funded projects or through public-private-partnerships.For example, let’s look again at the agricultural sector. If a drought hits a country, the public sector will pay for and supply the population with food provisions. But governments can enlist the private sector to deliver these supplies throughout the country. The private sector has the transport capability, while the government has supplies that need to be delivered. Additionally, the public and private sector could partner together to build large-scale water tanks or construct canals that bring water to areas that are water-scarce. This type of relationship benefits the private sector, public sector, and vulnerable communities.Spurring Greater Climate AdaptationThese are just a few examples—there are numerous actions governments can take to support, incentivize, or partner with the private sector on adaptation initiatives. With sea levels rising, floods intensifying, and drought periods extending in many countries, it’s time for governments to consider the tools and processes at their disposal for ensuring their private sectors are helping build a climate-resilient society.
Read more Share on Pinterest “There was too much time wasting,” he said. “We wanted to win, they didn’t want to lose. It’s normal to have tension. Maurizio has ended up being sent off while trying to help: he went down there to help Kevin (Friend) and tell our players to get into position, but he was sent off. Burnley played their own game, and tried to get this point. We didn’t play enough in the second half, because there was too much time wasting, but they did what they had to do. We were not very happy because we thought five minutes wasn’t enough to compensate, so we are very disappointed about that.” Chelsea have made the referee, Kevin Friend, aware of comments allegedly made by a member of Burnley’s coaching staff and directed at Maurizio Sarri after frustration spilled over into furious clashes between the two benches during the teams’ draw at Stamford Bridge.Sarri was involved in regular confrontations with the visitors’ coaching staff during the 2-2 draw and, having become involved in a mêlée between players in stoppage time at the end, was dismissed to the stand by Friend. The Italian appeared to point a finger at the Burnley goalkeeping coach, Billy Mercer, at the mouth of the tunnel with further ugly scenes involving coaches and players erupting after the final whistle. Topics The Chelsea head coach swerved his post-match media briefings, with his assistant, Gianfranco Zola, confirming his compatriot had been incensed by comments allegedly flung his way throughout the game. “He’s very frustrated. He’s been sent off and I think he’s been offended as well, so he didn’t feel it was the right thing to speak [publicly],” said Zola. “He’s frustrated at the game, frustrated at being sent off, and the other thing.“I think he’s been told something from their bench but don’t ask me exactly what. I don’t want to go down that line but we’ll see what we can do about that. I think there will be a follow-up on that. Maurizio felt very unhappy. We understand it’s a football game. You say words because of the adrenalin, but he wasn’t particularly happy. If Maurizio said that, probably it’s something that could have been avoided.”Chelsea are understood to have made the referee aware of what was allegedly said to Sarri on numerous occasions during the game and he has indicated he will include their allegations in his match report. The Burnley manager, Sean Dyche, laughed off suggestions there had been bickering between the two benches. “I don’t think my coaches’ language skills are that good,” he said. “It wouldn’t have been a deep conversation. Woany’s [his assistant, Ian Woan] from the Wirral.”The home side ended frustrated by Burnley’s eagerness to run the clock down after the break as they defended the point that in effect secured Premier League survival and potentially damaged Chelsea’s hopes of finishing in the top four. “It’s difficult when you play against a team who have two chances and score two goals and didn’t want to play the game,” said David Luiz. “It’s anti-football, losing time [time wasting] all the time, especially when you have the ball. Their players went to the floor and stopped the game.” Tom Heaton was booked for time wasting in the 32nd minute and Zola admitted Burnley’s tactics had culminated in Sarri’s dismissal. Ashley Barnes and Burnley put spanner in Chelsea’s quest for top-four spot Chelsea’s Callum Hudson-Odoi out for rest of season after rupturing achilles Chelsea Share on Messenger Premier League Reuse this content news Maurizio Sarri Burnley Read more Share on LinkedIn Share via Email Share on Facebook Share on Twitter Share on WhatsApp