Which of the following is a benefit of stakeholder collaboration in addressing climate change?

The benefit of greater efficiency in resource sharing through stakeholder collaboration is significant when addressing climate change. Collaboration among stakeholders, including businesses, governments, NGOs, and communities, allows for pooling resources, knowledge, and expertise. This collective approach leads to optimized use of resources—such as financial investments, technology, and human capital—thereby enhancing overall efficiency. For instance, shared initiatives can reduce duplication of efforts and focus on innovative solutions that might be less feasible individually. This cooperative dynamic is particularly critical in addressing complex and systemic issues like climate change, where joint actions can lead to more impactful and sustainable outcomes.

In contrast, increased competition tends to drive entities to work in isolation, potentially leading to fragmented efforts that may not effectively tackle global challenges such as climate change. Reduced transparency would hinder collaboration since open communication and trust are essential for any stakeholder partnership. Lastly, lower stakeholder engagement would imply a lack of involvement from key parties, which is counterproductive to finding comprehensive and effective solutions to climate issues.