Can Thailand adapt to climate change?

Bandid Nijathaworn in Thailand Business News: Flooding in Bangkok shut down global supply chains, torrential storms in Beijing and the Philippines took lives, and, most recently, the rare landfall of a hurricane in the US northeast caused immense and multifarious damage and suffering.

Natural disasters have always occurred, but in the 21st century to date, humanity is witnessing unprecedented climatic variations while hundreds of millions of people migrate to increasingly vulnerable coastal urban areas.

Construction of flood prevention walls along the rivers are aimed at replacing sandbag embankment used during the flood crisis last year. It’s clear – global challenges can be tackled, and the private and public sector are beginning to acknowledge the urgency in implementing solutions. The greatest hill to climb now is enabling the environment for investment in building resilient communities that will be ready to adapt to a changing world.

The World Bank reports that us$ 75 billion-us$ 100 billion annually will be needed for the next 40 years or more for developing countries to adapt to these challenges and prevent loss of life and jobs. The difference remaining after current allocation (about US$ 3.5 billion-US$ 9 billion, according to the OECD) is US$ 71.5 billion-US$ 91 billion.

The World Economic Forum Global Agenda Council on Climate Change is addressing these and other climate issues during the next two years and will bring the message of the urgent need to adapt to its wide network of business and government leaders. When the Council met in Dubai, United Arab Emirates, November 12-14, for the Summit on the Global Agenda 2012, it developed work plans for its three focus areas: adaptation metrics, climate smart investments, and communications and engagement...