SOCIAL ENTREPRENEURSHIP

 

WHAT IS SOCIAL ENTREPRENEURSHIP?

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SOCIAL ENTREPRENEURSHIP

Social entrepreneurship is the process of recognizing and resourcefully pursuing opportunities to create social value. Social entrepreneurship is all about recognizing the social problems and achieving a social change by employing entrepreneurial principles, processes and operations. It is all about making a research to completely define a particular social problem and then organizing, creating and managing a social venture to attain the desired change. The change may or may not include a thorough elimination of a social problem. It may be a lifetime process focusing on the improvement of the existing circumstances. While a general and common business entrepreneurship means taking a lead to open up a new business or diversifying the existing business, social entrepreneurship mainly focuses on creating social capital without measuring the performance in profit or return in monetary terms.

The Initial National Communication to the United Nations Framework Convention on Climate Change (UNFCC) was set up and completed by the Maldives. This not only highlighted how vulnerable the Maldives is to rising sea levels and temperature but included adaptation and mitigation projects. In the Maldives National Adaptation Programme of Action (NAPA), ‘adaptation is seen as “a multi-dimensional goal that aims to increase resilience of the vulnerable systems against climate hazards and risks to achieve sustainable development outcomes” (MEEW, 2007).’
These adaptation actions focus mostly on risk reduction, in particular, building infrastructure to reduce the vulnerability. The Maldives benefits from funding from the LDCF: Integration of future climate change scenarios into the Safer Island Strategy.

Global Governance
It is essential that the Maldives receives funding from other governing bodies, otherwise their adaptation and mitigation strategies would be unreachable. A Climate Trust Fund was set up by the European Union and the World Bank. One of its aims is to ‘build a resilient economy through various mitigation and adaption activities.’ (I. Faisal, 2011). Germany’s International Climate Change Initiative (IKI) helps small island states such as the Maldives in reaching a climate-friendly economy and the use of renewable energies. Germany’s IKI is providing almost EUR 3 million in supporting the International Renewable Energy Agency (IRENA) who is implementing the project. It’s aim here is to work with small island states who are reliant upon imported fossil fuels to meet their demand to foster and promote renewable energies and a sustainable supply of energy. The importation of fossil fuel are high in cost, so another important initiative, the Sustainable Energy for All (se4all) intends to double the share of renewables in the global energy mix to 36% by 2030. SIDs are already beginning to set new and ambitious targets to reach in order to expand renewable energies.
The Nansen initiative is an agenda for the protection of cross-border displaced people in the context of climate change related disasters. The Nansen Initiative addresses the environmental challenge of displaced people from climate change disasters by encouraging (sub-)regional cooperation. The Cancun Agreement (C

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