Adaptation economics to climate change: Key vulnerabilities of small-holder farms

Abstract

The paper aims to present the key vulnerabilities of small-holder farms while adapting prospective climate change conditions. Natural resources' productivity has declined under climate stress. The natural resources that lose their prolificacy negatively affect small-holder farms. Consequently, the agricultural sector will suffer from climate change impacts. The countries which have small-holder farms should be more careful while designing their rural policies. Indeed, small-holder farms lack capacity in management of agricultural risks. This phenomenon has the potential to trigger rural poverty in the medium-term. Many studies carried out on the African Continent indicates that adaptation costs of climate change account for 250-500 billion USD in the years between 2010 and 2050. Climate change adaptation policies are most effective when they are fully integrated within countries' national development strategies. Furthermore, adequate funding and technology transfer to small-holder farms are important in ensuring success of any climate action and initiative. The current paper will give information related with adaptation costs to climate change in various countries of the world. In addition, the paper discusses the possibility of agricultural adaptation policies coming from developed zones of the world.