In Drought Crisis, Company Sees Profit Opportunity

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http://www.commondreams.org/headline/2012/08/21-4

While the United Nations declared Tuesday that better drought strategies are needed for the world now suffering the effects of climate change, one company is acknowledging that the crisis is a perfect money making opportunity.

“Climate change is projected to increase the frequency, intensity, and duration of droughts, with impacts on many sectors, in particular food, water, and energy,” said Michel Jarraud, World Meteorological Organization (WMO) Secretary-General. “We need to move away from a piecemeal, crisis-driven approach and develop integrated risk-based national drought policies.”

“The 2010 drought-induced famine in the Greater Horn of Africa, the ongoing crisis in the Sahel region and the extensive drought in the USA show that developing and developed countries alike are vulnerable,” added Luc Gnacadja, Executive Secretary of the UN Convention to Combat Desertification (UNCCD). “Effective long-term solutions to mitigate the effects of drought, and address desertification and land degradation urgently need to be mainstreamed in national development plans and policies.”

While droughts have not been limited to the U.S., they have global impacts due to the U.S. role in grain exports, especially corn, and the consequences can be deadly.