A report published by the World Government Summit Organisation (WGS), in partnership with the consultancy firm PricewaterhouseCoopers (PwC), has warned that the acceleration, complexity, and scale of climate change events will have a devastating impact on global development, stability, and prosperity.
The document calls for building climate-resilient pathways to achieve equitable development, while meeting current and emerging human needs, based on activating partnerships between government and the private sector.
The report, entitled ‘Partnership to Promote Climate Action – Collaboration with the Private Sector’, explains that private sector participation will be critical in financing climate action, and calls on the private sector to participate in boosting climate resilience using local capabilities.
It stresses that the financing of risk mitigation not only helps governments prevent loss of life, but also ensures that people are prepared and safe during climate events, noting that preventive measures and evacuation protocols also build trust between governments and vulnerable communities.
The report said,
"The cost of managing rehabilitation and needs of societies affected by climate change will deplete resources, infrastructure, and social security budgets. Governments may have to share the in-cash and in-kind capital costs through cooperation in several areas,"
The report notes that the climate state is rapidly aggravating poverty and instability, and is likely to amplify the economic burden on governments struggling to manage COVID-19 and ever-increasing humanitarian needs.
"In the context of the current recovery from the pandemic, governments should integrate climate change adaptation and mitigation strategies into decision-making and policy frameworks that address recovery and resilience. Integration will secure governments and advance the global vision of sustainable development by indirectly reducing vulnerability and poverty, while building partnerships to protect our collective future,"
Mohamed Yousef Al Sharhan, Deputy Managing Director of the World Government Summit Organisation, said that the Organisation offers a great opportunity to experts and high-level professionals from governments around the world to discuss innovative solutions for the main global challenges to build a better future.
Al Sharhan reaffirmed the importance of exchanging governments’ knowledge and experiences through a comprehensive platform, which enables governments to collaborate and work with the private sector and non-profit organisations to overcome recent and future challenges.
The document also recommends facilitating cross-border cooperation to address climate change challenges related to displaced populations and complex or widespread humanitarian needs, tracking organised cross-border movements of people during climate change events, including the movement of skilled volunteers, humanitarian agencies, and private sector entities, to improve the quality of response and creating organised safe areas protected by buffer zones.
News Source: Emirates News Agency