Lebanon is extremely vulnerable to the adverse impacts
of climate change, which is expected to cause significant costs to the economy.
The huge economic loss estimates have led the government to realise that the active
involvement and support of the private sector will be crucial to build a
climate resilient future for Lebanon and to meet the country’s climate targets set
out in its Nationally Determined Contribution (NDC). The idea to effectively
engage the private sector was first put forth through the enactment of the Lebanon
Climate Act in June 2016, which aims to address climate change in a way that
maximises benefits for businesses and communities. To steer the process under
this initiative, a guidebook has been prepared to enable and guide Lebanese
businesses in understanding the climate impacts on their operations, creating
strategies to mitigate these impacts, identifying key stakeholders for enabling
action, and sharing their experiences with the wider stakeholder group and
community. More than 100 companies and several non-governmental organisations (NGO)
have been associated with the LCA in the initial two years, providing their
critical inputs and insights and setting a strong precedent as climate leaders
for other companies to follow.
The Lebanon Climate Act constitutes a good
practice because of its robust stakeholder engagement, its ability to align
climate change strategies with business objectives, business engagement and
assistance platforms, and transparent monitoring, reporting and verification
- Green Mind: The NGO aims to promote sustainability practices in Middle East and North Africa, and is responsible for establishing and coordinating the activities under this initiative.
- United Nations Development Programme (UNDP): Contributed to the development of the guidebook and the establishment of the Business Knowledge Platform.
- Banque du Liban: The central bank of Lebanon is funding and supporting Green Mind to cover its expenses for activities under the Lebanon Climate Act. It is further supporting the initiative by providing subsidised loans for mitigation projects to the private sector.