Climate Change Adaptation for Agribusinesses

The Ceylon Chamber of Commerce in collaboration with the Australian government-funded Market Development Facility (MDF) – Australia’s flagship private sector development programme – brought agribusinesses together to discuss climate change.

In a recent webinar, industry experts discussed adaptation and mitigation strategies through business models and a shift in attitude. As Sri Lanka’s agriculture sector dominates the livelihoods of nearly 70 per cent of the rural population and contributes seven per cent to the nation’s GDP, climate change is a critical topic that needs attention.

Australian Deputy High Commissioner to Sri Lanka Amanda Jewell noted:

“The Intergovernmental Panel on Climate Change (IPCC) published a landmark report this year, indicating a code red alert for humanity. The last five years have been the hottest on record since 1850, and the rate at which the sea level rose nearly tripled compared to between 1901 and 1970.”

She added that high temperatures lead to changes in rainfall and extreme weather events such as flooding, which Sri Lanka is increasingly experiencing:

“This is a major risk to sustainable development and affects global efforts to eradicate poverty.”

MDF Sri Lanka has pivoted its focus to climate change this year. It has actively engaged with partners, and government, industry and private sector stakeholders, in the last five years, on innovative solutions to address constraints to climate change adaptation and encourage mitigation.

It supports climate change investments in line with its aim to improve the livelihoods of the poor and act as an advocate for women’s economic empowerment.

Investments in adaptation and mitigation are essential to building the agriculture sector’s resilience to climate change and vital to sustaining livelihoods in a world that continues to buckle under the challenges posed by the COVID-19 pandemic.

Read the full article here: Climate change adaptation for agribusinesses