Turkish businesses should take heed of climate change

Hurryet Daily News (Istanbul): Climate change is an increasing concern for businesses worldwide, and especially in Turkey, where water scarcity is a growing challenge. But knowing what to do about it can be daunting, especially for small and medium-sized firms, according to research funded by the European Bank for Research and Development (EBRD) and the International Finance Corporation (IFC).

Their new report, “Pilot Climate Change Adaptation Study: Turkey,” lays out a series of prio
rity actions for Turkish businesses. The study aims to help companies manage the risks and opportunities associated with climate change, making it possible for them to identify measures that make business sense and to prepare for the changes ahead.

“The private sector in Turkey will need to be more climate-resilient, and with this research, it can prepare for climate change in ways that also make good business sense,” said Stephanie Miller, director of Climate Business at IFC, a member of the World Bank Group.

“There are significant opportunities for Turkish businesses to invest in climate-resilient technologies and practices, which can also generate a good return on investment,” said Craig Davies, senior manager for Climate Change Adaptation at the EBRD. “We are also engaging with other international agencies and financial institutions in Turkey to further strengthen the country’s climate resilience frameworks and develop new financing mechanisms.”

The report, undertaken in conjunction with the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and the Environment and Urbanization Ministry, describes water scarcity as an increasing risk for Turkey due to climate change and its impact on precipitation, including more frequent droughts and hot spells....

The Grand Bazaar in Instanbul, shot by Giovanni Dall'Orto, Wikimedia Commons, under the Creative Commons Attribution-Share Alike 2.5 Italy license