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Corporate Strategy | "Adaptation and Mitigation Strategies for Climate Change: A Brief Review"

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Adaptation and Mitigation Strategies for Climate Change: A Brief Review

- by Suddhachit Mitra *

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Page - 4

Mitigation Strategies

Adaptation becomes costlier and less effective with increasing magnitude of climate change. Also, if level of mitigation achieved is more, the necessity of adaptation decreases. Rules in carbon trading prevent the poor in developing countries to gain effectively from the trade.

Developing countries do not gain credit by avoiding deforestation or increasing carbon sequestration. Also high transaction costs deter the poor to an extent in trading. These rules can be streamlined with innovative practices so that more people can take advantage of the trade.

Agriculture and land use change together account for about one-third of GHG emissions, with major component of such emissions originating in developing countries and least developed countries. The potential financial flows are estimated to be between US$130 billion and 260 billion, which is substantial.

To ensure risk-free livelihood of poor farmers in developing nations, so that emerging carbon markets benefit them, following mechanisms have been suggested:

  1. Broaden definition of afforestation and reforestation to include agro forestry, natural regeneration, forest rehabilitation etc.
  2. Promote measures to reduce transaction costs
  3. Establish international capacity building and advisory services

Some instances of adaptation strategies in developing countries follow:

Kenya experienced its worst drought in many years in 2000 A.D. Ancient coping strategies had become defunct; and the effect was severe for pastoralists. Barriers were erected by affluent farmers, ranchers and the industry proved a deterrent to coping with the drought. Hence there is a need for identification of new strategies.

A US $ 1 million program of planting mangrove trees to break 1.5 meter waves typically associated with tropical cyclones was supported by the Vietnam Red Cross. This has yielded significant benefits, in the form of reduced maintenance costs of sea dykes, and only minimal damage to property caused by Typhoon Wukong in October 2000. Livelihood opportunities were generated by the mangrove plantation for the community in the form of planting and protection initiatives and shellfish harvesting in the mangroves.

The government of Mexico in 1996 established a fund for natural disasters (FONDEN) for post disaster financing of damaged public infrastructure and compensation to low income victims for crop and livelihood losses. Currently FONDEN has adapted objective criteria for catastrophic events. Efforts are on to obtain financial re-insurers for FONDEN to cover its risks. Additionally, mutual insurance funds have been implemented by farmer associations, through collection of premiums and creating reserves to pay indemnities. However in a catastrophic weather event, these mutual insurance funds are not sufficient, as in such an event all farmers are affected simultaneously.





* Contributed by: -
Suddhachit Mitra, is a research (M. Phil) student of Management at the West Bengal University of Technology, Kolkata.


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