Bilateral emergency export reserve mechanism under climate change

Abstract

Consider that multilateral food aid and regional food security mechanisms may incompletely adapt to the challenges of climate change in future practice. This study proposes a framework of bilateral emergency export reserve mechanism to encourage both participating countries to jointly appoint a transnational agribusiness to manage emergency export reserves as a means of fulfilling its corporate social responsibility (CSR). This mechanism has the features of simplified negotiation, more transparent operating procedures, along with reciprocity in bilateral cooperation, which would provide grain importing countries with a higher degree of safeguarding food security.