Sasha Jattansingh, Senior Technical Officer, CANARI
Climate change blog: November 21, 2019
The adverse effects of climate change are being experienced by developing countries, particularly low- and middle-income countries, at an increasing pace. Developing countries are often vulnerable to climate change and are also highly dependent on climate-sensitive sectors such as agriculture, fisheries and tourism for their economies.
Climate change events such as floods, tropical storms, droughts and sea level rise have had crippling effects on developing countries in the Caribbean, its citizens and the natural environment – Hurricanes Maria and Irma in 2017 are well-known examples of this. Micro, small and medium enterprises (MSMEs) are key economic players driving inclusive and sustainable development in developing countries around the world.
However, MSMEs are particularly vulnerable to the impacts of climate change and require quick and relevant measures to build their resilience.
The Caribbean Natural Resources Institute (CANARI), in collaboration with the Trade and Industrial Policy Strategies (TIPS), a non-profit economic research institute based in South Africa, recently co-authored a background paper entitled “All is not green: Climate change adaptation and small business resilience in low and middle-income countries” for the Global Adaptation Commission. This background paper focused on three inter-related themes: the climate change risks faced by MSMEs, the current state of adaptation, and the way forward by suggesting how harnessing MSMEs in low- and middle-income countries can advance climate change adaptation actions beyond the status quo.