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Climate adaptation in a business context refers to the actions that companies take to prepare for and respond to the impacts of climate change on their operations, employees, communities and customers. As a frontline country for climate change impacts, businesses in the Maldives need to ensure they are in a position to manage impacts of climate change on their business. Climate adaptation can include a range of strategies, such as: Identifying and assessing the specific risks and impacts of climate change on a company's operations and supply chain. Developing and implementing plans and actions to reduce vulnerabilities and increase resilience to those impacts. This can include broadening into new areas of operation, innovating alternatives to existing products and industry, and making use of new business opportunities in the field of climate adaptation.  Investing in technology, infrastructure, or other measures to reduce the company's greenhouse gas emissions and increase its energy...

The USAID Maldives Enterprise Development Program (EDP) is a unique program designed to help selected early stage micro-, small and medium enterprises with innovative eco-friendly market solutions transform into viable growth-oriented businesses. The project is funded by USAID under their five-year Climate Adaptation Project. The purpose of the project is to support and rapidly develop MSMEs that can provide goods or services to de-risk agriculture, tourism, and fisheries related livelihoods in the face of observed and anticipated climate change impacts. Climate change impacts are likely to cause severe disruptions to the Maldivian economy unless we take steps to make it more climate resilient. “FJS is excited to have this this opportunity, made possible by USAID, to work with MSMEs across the country to help them grow and strengthen their businesses.” Hamid Sodique, MD, FJS Consulting The project recognises the key role of MSMEs in the Maldivian economy and is designed...

Climate change impacts create grave risks for the future of key sectors in the Maldives economy. The livelihoods of the people and the prosperity of the nation are put at risk due to longer-term climate changes and extreme weather events. Early climate change adaptation efforts and re-orienting towards climate resilient economic development mean that the country will be in a situation to cope better with anticipated and observed climate change impacts. Innovative use of existing technologies and development of new technological solutions are critical components of climate change adaptation and building climate resilience. As developers and early adapters of new technologies, innovation-driven entrepreneurship can help re-orient the economy and foster enthusiasm for climate resilient sustainable development. Entrepreneurs play a key role in driving and shaping the national economy and they are vital for the growth and prosperity of local communities. Businesses that offer new or adapted business-to-business technological solutions can...

Entrepreneurs are an integral part of flourishing economies and societies. Often at the forefront of starting their own businesses and introducing new concepts into the local economy, entrepreneurs develop an idea they have to create a marketable solution for gaps and problems they have identified within their communities and contexts. If successful, they are able to reap the rewards of business and generate profitable income to grow and expand their business. Entrepreneurs are commonly seen as innovators, as they use their initiative and skills to anticipate or identify needs and to bring new ideas, products and services to the market. They have a positive impact on the economy and on society, by inventing goods and services, creating new businesses and markets and by bringing in new wealth to a locality or community. Such initiatives can lead to the expansion of the local economy by the development of support services and...