Businesses may not contribute significantly to climate change mitigation efforts

Zurich Climate Resilience Alliance Releases Report on Private Sector's Role in Climate Adaptation

The Zurich Climate Resilience Alliance (ZCRA) has published a report discussing the role of the private sector in climate adaptation for developing nations. The report, released on Wednesday, was published by a coalition of climate resilience groups and is the result of a collaboration between research, nonprofit, and humanitarian organizations.

The report acknowledges an important role for the private sector in preparing developing nations for a hotter planet. However, it does not provide new information on the percentage of climate adaptation needs the private sector can fund over the next decade. The report does estimate that the private sector can only fund 15% of the climate adaptation needs of developing nations over the next decade.

The report also suggests potential for the private sector to help bridge financing and funding gaps in certain sectors, but it does not specify which sectors the private sector could potentially bridge the financing and funding gap. The report does not provide new information on the role of the private sector in preparing developing nations for a hotter planet or whether these public funds could potentially come from the developing nations themselves or the international community.

One of the key findings of the report is that the remaining funds for climate adaptation in developing nations over the next decade will need to come from public sources. The report does not provide new information on whether these public funds could potentially come from the developing nations themselves or the international community.

The report further suggests that the private sector cannot fully protect developing nations from the effects of climate change. Instead, it emphasises the importance of a collaborative approach involving governments, non-governmental organisations, and the private sector to address the challenges posed by climate change.

The Zurich Climate Resilience Alliance (ZCRA), formerly the Zurich Flood Resilience Alliance, is a multi-sector partnership funded by the Z Zurich Foundation. The alliance aims to help communities worldwide strengthen their resilience to climate hazards by implementing practical solutions and engaging in policy influence.

Businesses may not contribute significantly to climate change mitigation efforts