11/17
THU
Adaptation
15:00-16:30
| Title | Climate Change Adaptation: Can private sector lead the way? |
|---|---|
| Contents | Involvement of the private sector in transferring and diffusing adaptation technologies is key to success in order to accelerate climate change adaptation. While many initiatives have been taken in drawing resources from private sectors to adaptation activities, some proactive private companies have already started recognizing their existing CSR activities as well as main products/technologies would address climate change but not all. In a proposed session, a way to scale-up private sector's participation toward climate change adaptation will be discussed among panels from various constituents including financing institution (Adaptation Fund), Climate Technology Center Network (CTCN) and private companies. Responding to climate change adaptation should be recognized by the private companies as new business opportunities rather than as additional constraints. At the same time, developing countries are expected to seize this momentum to create an enabling environment to foster private sector engagement, which will ultimately be conducive to achieve the National Adaptation Plan. |
| Organiser / Co-organiser |
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. |
| Programme |
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| Session Summary |
Jun Takashina, Deputy Director General for Technology and Environment, Ministry of Economy, Trade and Industry, Japan, noted in his opening address that awareness of adaptation needs is increasing and is crucial to ensure sustainable development. He noted that, finance mechanisms, such as the Green Climate Fund will promote adaptation projects. Mari Yoshitaka, Chief Consultant, Clean Energy Finance Division Mitsubishi UFJ Morgan Stanley Securities, outlined a study commissioned by the Japanese Ministry of Economy, Trade and Industry for promoting adaptation activities led by the Japanese private sector and introduced case studies. She concluded that recognition that adaptation brings business opportunities is required. Mozaharul Alam, Regional Climate Coordinator, UN Environment Regional Office for the Asia and Pacific, highlighted the need for the private sector to mainstream adaptation in their investment planning, and for promoting existing technology transfers to developing countries. Daouda Ndiaye, Senior Climate Change Specialist, AF, stressed the need for more support to address adaptation issues in least developed countries (LDCs). Ndiaye said it is important for countries to introduce attractive policies for the private sector, which can contribute to achieving the climate finance target of US$100 billion per year by 2020. Masakazu Murakami, Senior Associate, Responsible Care Department, Sumitomo Chemical Co. Ltd., shared experiences from the chemical industry contributing to sustainable development in water, food and health sectors. He showcased a long-lasting insecticidal mosquito net, approved by the WHO, to protect people from malaria. Saleemul Huq, Director, International Centre for Climate Change and Development, Bangladesh introduced a private sector project that developed rice seeds that can adapt to water salinity and highlighted the need to balance adaptation benefit and local farmers' benefit. Toshiaki Nagata, Deputy Director, Global Environment Partnership Office, Ministry of Economy, Trade and Industry, Japan, commented that in order to maximize private sector's contribution to adaptation, public sector can bridge technology needs with seeds and technology needs with finance, build trust and capacity, brand adaptation activities to increase awareness. In the Q&A session, a question was raised by a US participant with regards to the safeguards for local communities when private sector implements adaptation activities. Dr. Murakami and Dr. Ndiaye explained how their respective organizations take into consideration the needs of local communities. A comment was made by a participant from Burkina Faso with regards to her further interest in the Japanese government's support for adaptation activities. |
| Key Messages |
Private sector, through technology is engaged in various adaptation activities. In order to maximize private sector's role, it is not only essential for private sector to increase its awareness of adaptation as business opportunity, but also for public and private sectors to engage in further collaboration in finance mobilization, increasing awareness and balancing benefits among stakeholders. |
| Materials | Event Flyer (PDF・547KB) Presentation 1 (PDF・160KB) Presentation 2 (PDF・354KB) Presentation 3 (PDF・184KB) Climate Change Adaptation Good Practices by Private Sector (PDF・1,313KB) |
| Photos | |
| Reporters | Kikuko Shinchi, Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. |
