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Summary report Working group session summaries 23Adapting to climatechange through strategicplanning and collaborationA political deal will not be possible in Copenhagen if adaptationis not adequately dealt with, including financingmechanisms for adaptation measures, particularlyfor the most vulnerable countries.Adaptation is also an important issue for business.Participants at the Summit emphasized that companieswill not be sustainable if they do not consider the effectthat climate change will have on their long-term investments,assets and value chains. Successful leaders mustbe prepared to manage their businesses under risks anduncertainty; however, the level of uncertainty related toclimate impacts and risks can be significantly reducedthrough a better understanding of climate science andthus make it easier for businesses to plan and adapt.“Adaptation is the elephant in theroom on climate change.”Steve Lennon, Managing Director, CorporateServices, EskomSo far, the negotiations on adaptation have remainedat the political level, in particular on the allocation anddistribution of funds. Participants at the Summit suggestedthat governments should engage with businessto ensure the most effective use of funds for implementationof adaptation measures.Recommendations to policymakers• Engage in research to improve climate modelingand reduce the uncertainty of futureclimate impacts. Sharing of information onlocal climate modeling, led by governmentsand supported by local business knowledge,could help in the planning and development ofadaptation measures.• An effective adaptation funding mechanism isnecessary. It must be flexible, scalable, and applicableat local, regional, and national levels.• Develop or innovate financing mechanismsfor public-private partnerships, e.g. a decentralizedsystems that support smaller financialgroups (similar to microfinance models),which in turn provides funding for adaptationsolutions. The key to successful partnershipswill be to build infrastructure, knowledge anddevelopment capacity to improve the managementof long-term climate impacts.Increasingly, whole sectors and geographies may beexposed to severe climate impacts. For example, the agriculturalsector is facing the possibility that crop yieldscould halve between now and 2020. Participants agreedthat adaptation measures, practices and investmentsneed to be scaled up significantly, and that publicprivatepartnerships may be the most effective vehicle.Existing public-private partnerships need to move frombeing community-based to larger schemes that createeconomies of scale. Effective partnerships in other sectorsmay set a useful example.This working group was developed and organized by theWorld Business Council for Sustainable Development.For more information, please go to www.wbcsd.org orcontact Matthew Bateson at bateson@wbcsd.org.