Climate and disaster risks are creating adverse impacts on the country’s economic sector. Among those who are most directly impacted are micro-, small-, and medium-sized enterprises (MSMEs) and entrepreneurs. To ensure long-term economic recovery and inclusive economic growth, it is therefore important to identify and address climate and disaster risks in this sector and support MSMEs in building holistic climate resilience.

The adverse impacts of climate change have resulted in diverse losses and damages to different aspects of our lives. This includes both economic as well as non-economic losses and/or damages.While economic losses and damages could be described as those that could be allocated a monetary value, non-economic loss and damage (NELD) remains difficult to address due to the need for evaluation and identification of forms and measures through which it could be addressed.

Climate change is amongst the key challenges that the planet is facing today. To address climate change effectively, a holistic and cross sectoral approach is needed which focuses on a social, economic an environmental transformation, which builds on just transition. It is vital that this transition is gender responsive, and even better if gender transformative, which could pave the way for inclusive and equitable approaches towards climate action and sustainable development.