In the media debate over the last years there has been a strong focus on mitigation efforts regarding climate change. We have been discussing more about how to avoid it than about how to manage the changes that are already happening. This is about to change, but the characteristics of mitigation and adaptation are different.
Mitigation, by switching to renewable energy production, or by reducing emissions through better energy efficiency has a value to everybody, since the climate is global. Local action but global effect. Mitigation also has market dynamics that work globally or across larger and larger geographies. The CDM and JI markets are global, whereas the carbon trading regimes around the world are still restricted to some regions, EU being the biggest one.
The adaptation efforts on the other hand, are local with local effect. And there are no market dynamics that will help even out the system. A flooded school in Bangladesh cannot be offset by anything else.
But still, both mitigation and adaptation will provide a lot of business and we have only started to realize what will be required in terms of adaptation offorts.
A Globe Forum conference in Stockholm next week will put emphasis on adaptation opportunities. Also, there was a conference in December, the European-African Symposium on Climate Innovation and Development which put some extra focus on the adaptation issues, in that case specifically for Africa.
More to come.
