Even if the world commits to significant greenhouse gas (GHG) emissions reductions, some climatic changes are already underway and further changes are inevitable. Rising sea levels, droughts, floods, heat-waves and storms, with their attendant risks, are becoming more common. Unless appropriate actions are taken to adapt to the risks, the impacts on businesses, the environment and communities may become increasingly severe.

Recognizing these issues, the IFC Adaptation Program aims to develop knowledge, tools and methods for analyzing climate-related risks and opportunities to the private sector, and for evaluating adaptation responses. This is being achieved initially by undertaking case studies of some of IFC’s investments, to investigate how they could be affected by climate change. Within this context, IFC has commissioned this report for a port, Terminal Maritimo Muelles El Bosque (MEB), in Cartagena, Colombia. The report presents the outcomes of an assessment of the potential risks and opportunities from climate change for MEB, along with analyses of climate-resilient actions that the company can consider.

The report aims to address the following questions:

• What risks and opportunities does climate change present for MEB?
• What are the most significant risks for MEB?
• How could MEB manage climate change risks in the most economically optimal way, taking account of environmental and social objectives?
• How could climate-related opportunities be developed and exploited?
• Where could MEB work in collaboration with other stakeholders to manage climate risks?
• What tools and techniques for climate risk assessment and management can be applied to understand these issues?