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IJSR PEER REVIEWED OPEN ACCESS INDEXED UGC APPROVED ONLINE MULTIDISCIPLINARY JOURNAL WIDE PUBLICATION

ADAPTATION TO CLIMATE CHANGE BY REAL-ESTATE SECTOR A CASE STUDY IN...

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ABSTRACT
Adaptation to climate change to minimize negative impacts on vulnerable community is a serious concern for
developing countries. Though limited resources and capacity of those governments urgently requires engagement of private
sector in adaptation, the responses from private sector or businesses are less visible. The objective of the case study is to explore
how a real-estate business in developing country is engaging itself in adaptation to climate change and what are the main drivers
and barriers in the adaptation process. The case study reveals that though organization might recognize climatic stimuli to
affect business performance, adaptation responses depend on a number of external and internal non climatic drivers or barriers
like market force, regulation, technology, awareness, resources, capacity, leadership etc. In Bangladesh low awareness, high
price of adaptation technology, lack of information and adaptation finance, corruption, political unrest and unfriendly
regulatory environment are the main barriers to adaptation. Government must incentivize the real-estate sector by changing
urban planning, building code, taxation etc., and by patronizing research, integrating other regulations that directly or
indirectly can help the real-estate business to be engaged in adaptation to climate change successfully.