April 2011: The International Finance Corporation (IFC), a member of the World Bank Group, has published a comprehensive framework for assessing the risks of climate change on port operations and options for adapting to risks. The report, titled “Climate Risk and Business: Ports,” analyzes the climate-related risks and opportunities facing IFC client Terminal Maritimo Muelles el Bosque, a port in Cartagena, Colombia. The report provides a quantitative assessment of the impact of climate change and potential responses for adapting.

Port facilities are likely to be particularly at risk for a number of reasons: due to their long lifetimes, they will face several decades of accelerating climate change; by virtue of their locations on coasts, rivers or lakes they are often exposed to a range of climate-related hazards, such as sea level rise, storm surges, extreme wind and waves and river flooding; and ports rely for their success on economic stability and growth, as well as on third party infrastructure (such as inland transportation networks), both of which are sensitive to changes in climate conditions.

The methodology proposed in the study can be used to assess climate vulnerabilities and adaptation options of other ports in the country and elsewhere in the world. [Publication: Climate Risk and Business: Ports]