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The Express Tribune

Published Date: Jul 22, 2014

Climate change: Impact on market potential of vulnerable sectors highlighted

A consultative seminar was held on the impact of climate
change on markets on Monday by the Sustainable Development Policy
Institute.

The event, "Climate risks and its impacts on Markets and Growth: The
Case of Pakistan," was organised to share reports on climate risks and
markets and identify multiple vulnerabilities, according to a press
release.

Researchers highlighted linkages between climate change with risk,
the tragedy of global commons and the urgent need for climate resilient
infrastructures. They recommended improvements in the adaptive capacity
of institutions, as climate change has adverse effects on all sectors,
specifically energy and agriculture. Industries associated with cotton
which is the main cash crop in the country are among the most affected.

The participants called for extending social protection to help
people associated with vulnerable sectors of the economy transition
towards more eco-friendly activities. Pakistan ranks as the eighth most
vulnerable country in the world in relation to climate change.

Dr Usman Mustafa, an agricultural economist said third world
countries suffer the most due to heavy reliance on agriculture, which is
100 per cent weather-dependent. Climate change alters biodiversity that
threatens our food security. Coherence between long-term and short-term
goals, and long-term coping mechanisms, including the need to change
consumption patterns is essential to mitigate the impact of climate
change.

Javed Ali Khan, former director general of Environment and Climate
Change, stressed the need to communicate with people at the grass-roots
level to fully understand the effects of climate change, which has
depleted market potentials.

Agricultural research institutions are working on water-resistant and
drought-resistant seeds, which have the capacity to cope with adverse
climate effects, he said. "Climate change affects every ecosystem
differently so there can be no blueprint approach and an intensive study
is necessary to document its impact." A study of projections till the
end of the 21sth century shows a positive effect in northern Pakistan
with longer summers, he added.

Source: http://tribune.com.pk/story/738921/climate-change-impact-on-market-potential-of-vulnerable-sectors-highlighted/