Climate change impacts are being felt in low- and middle-income countries at an ever-increasing pace. The high dependency on climate-sensitive sectors as well as high vulnerability to climate change raise the need for quick responses and action. These climate events wreak havoc, ripping apart the fabric of societies, economies, and lives. Micro, Small, and Medium Enterprises (MSMEs) are vital components of economies and particularly vulnerable to the impacts of climate change.
This paper explores three inter-related themes: the material risks that small businesses face, the state of adaptation in low- and middle-income countries, and potential recommendations on a way forward. It is part of a series of background papers commissioned by the Global Commission on Adaptation.