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Over the past twenty years, natural disasters have become more frequent, and the costs of associated damages and losses are rising. In 2012 alone, the 357 natural disasters recorded worldwide resulted in 9,655 fatalities, 125 million victims, and 157 billion US dollars in associated damages and losses. Far-flung power infrastructure from upstream generation plants and transmission lines to downstream distribution networks and operational systems is particularly vulnerable to weather and geological events. Building a resilient power sector is likely to be particularly challenging in countries where the power supply system is weak or aging, which is the case in many developing countries. The World Bank Group's Energy Sector Management Assistance Program (ESMAP), in collaboration with Global Facility for Disaster Risk Reduction, undertook this study to: (i) raise awareness and enhance understanding about managing extreme weather and geological risks among power sector stakeholders and (ii) enhance their capacity to take adaptive actions to mitigate these risks and cope with the impacts when disasters happen. The study catalogs the risks faced by the power sector as a result of weather and geological hazards; identifies and documents a range of emerging resilience standards; covers the entire power-system value chain; and focuses on the present-day concerns of vulnerable power utilities.

Electric Power --- Electricity --- Energy --- Energy and Environment --- Energy Policies & Economics --- Finance and Financial Sector Development --- Hazard Risk Management --- Insurance --- Insurance & Risk Mitigation --- Resilience --- Risk Management --- Urban Development

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There is growing international interest in the planning, financing and implementation of adaptation to climate change. However, the discussion to date has primarily focused on the public sector’s role, with the private sector viewed primarily as a source of funding or financing. Relatively little attention has been paid to how the private sector is responding to the risks and opportunities from climate change. In this context, this analysis aims to contribute to a deeper understanding of private sector’s role. This paper examines the private sector’s progress in adapting to climate change by considering information from sixteen case studies, drawn from a range of industries across the private sector. This is complemented by a high-level analysis of broader private sector adaptation based on responses to the 2009 Carbon Disclosure Project questionnaire. The case studies provide insight into companies’ awareness of potential climate risks and vulnerabilities, their progress in assessing specific impacts on their businesses and possible ways to respond to them, and their implementation of adaptation measures and strategies to manage these risks. The analysis also examines how companies are taking advantage of new business opportunities arising from climate change. The paper explores companies’ motivations for implementing adaptation measures, and establishes common factors which can affect companies’ capacities to adapt, their incentives for action, and their perspectives on the need to adapt. The analysis considers how these factors can both encourage and impede adaptation, and assesses potential public sector roles for eliminating barriers to action, encouraging engagement and incentivising private sector investment in adaptation.

Environment