Awareness levels of the dynamics of the climate change risk impacts: Evidence from Africa, Eastern Asia and emerging countries

Peter Silwimba and Solomon Olajide Fadun
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Peter Silwimba: Managing Director & Principal Consultant, Silwimb International Consult, Lusaka Zambia
Solomon Olajide Fadun: Department of Actuarial Science and Insurance, Faculty of Management Sciences,University of Lagos, Akoka Lagos, Nigeria

International Journal of Research in Business and Social Science (2147-4478), 2022, vol. 11, issue 9, 379-393

Abstract: Climate change affects individuals and business organisations. This study examines individuals and organisations' levels of awareness of the effects of climate change and their responses to climatic changes. It also establishes awareness of the predominant effects of climate change risks in Africa and Eastern Asia. This study was descriptive research using surveys and fact-finding enquiries of different kinds. Using a purposive sampling method, one hundred five (105) participants were selected from more than 25 countries from Africa, Asia and other emerging countries for the study. The results indicate that, on average, many people are aware of the effects and gravity of climate change. A non-parametric test of the significance of climate change's impact on financial performance yielded a hypothetical mean above the threshold of 3, a P value of less than 0.05 at a 104 df. The results indicate that climate change adversely affects individuals, organisations and communities. The findings show that communities are relatively aware of the impacts of climate change and can quantify the losses in financial terms, at least as an estimate. It indicates that the level of awareness of individuals and organisations is satisfactory. The findings on vulnerability and exposure indicated that people are aware of climate change and its effects on individuals, organisations and communities. The results reveal that it is easy to manage climate change risks using techniques developed by local and international authorities. Governments, especially in Africa, must respond fervently to demands for climate change mitigations. Key Words:Climate, Climate change, Climate risk management, Africa, Asia

Date: 2022
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