Panel 8: Framing the market for climate resilience John Firth, CEO, Acclimatise Group Ltd The Challenge and Opportunity of Private Sector Climate Resilience.

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Presentation transcript:

Panel 8: Framing the market for climate resilience John Firth, CEO, Acclimatise Group Ltd The Challenge and Opportunity of Private Sector Climate Resilience Cartagena, Colombia May 2016 ©Acclimatise and Acclimatise Group Ltd 2016

Context IMF calculates that the private sector accounts for over 60% of the GDP in most countries. In many countries the figure is nearer 85%. The private sector produces most of the goods and services we consume and use, and provides most of the capital investment. It also directly and indirectly provides most of the taxation revenue to fund government expenditure. Is it also the source of financing resilience? Is this ‘context’ reflected in national adaptation planning? ©Acclimatise and Acclimatise Group Ltd 2015

PPP contracts - typically long term (ca. 20 years) and inflexible Failure to address climate risk - can create long term burden Challenges in management of climate risks in PPPs 4 Changing climate – can stress risk- sharing contractual obligations of parties in a PPP ‘Emerging Trends in Mainstreaming Climate Resilience in Large Scale, Multi-sector Infrastructure PPPs’ World Bank PPIAF

Infrastructure lifespans and climate change timescales 5

PPP contracts - provisions for, and allocation of, unforeseen risks categorized under “force majeure” Today’s extreme weather events → tomorrow’s new normal Impact on PPP contracts from a changing climate 6 Europe summer 2003 heatwave Force majeure clauses do not adequately capture changing climate risks

National policy frameworks in developing countries 7 16 countries reviewed: – Albania, Bangladesh, Brazil, Bulgaria, Chile, China, Honduras, India, Indonesia, Jamaica, Mexico, Nepal, Nigeria, South Africa, Trinidad & Tobago, and Turkey 12 adaptation frameworks 7 adaptation legislation No national PPP policy frameworks refer to climate resilience, adaptation, or climate change Timing issue? – Adaptation policy frameworks and legislation - relatively recent – PPP policy frameworks – older and not recently updated

Risk = opportunity 8 ‘Business Opportunities in a Changing Climate’

Thank you Contact details: John Firth CEO Acclimatise Group Ltd (0) ©Acclimatise and Acclimatise Group Ltd

Thresholds Willows, R.I. and Connell, R.K. (Eds.). (2003). Climate adaptation: Risk, uncertainty and decision-making. UKCIP Technical Report. UKCIP, Oxford.