Nordic Council of Minister’s Pavilion: New Nordic Climate Solutions
“Blue Zone”, Hall 2B, Booth 65 – COP21
Le Bourget, PariS
Water stress implies financial risk and climate change impacts is an impediment to the growth of resilient societies and long-term investments. Whether it is too much (floods), too little (drought), unpredictable water variability and extremes will affect national economies and local economic activities while inflicting negatively on human security. Since the original Rio Earth Summit in 1992 floods, droughts and storms have affected caused USD 1.3 trillion of damage (63% of all damage). World Economic Forum stated in its 2015 Global Risk Report that a water crisis is the global risk with the most damaging potential impact on countries as well as industries within the next ten years. They also conclude that water closely linked to several other risks; food crisis, interstate conflict, profound social instability, extreme weather events and failure of climate-change adaptation as well as of urban planning. However, in climate wise actions lies opportunity, and not only added cost. There is great potential in taking a leading role in initiatives, to invest early in the solutions of the future, in developing technologies to help reduce carbon emissions, etc. thereby adding to the competitive advantage while reducing risk.