Bridging the climate adaptation investment gap

This vital topic was introduced as the delivery mechanism for the Sendai Framework for Disaster Risk Reduction and the UN’s 17 global Sustainable Development Goals. With mitigation attracting the majority of climate funding today, speakers explored some of the key constraints and opportunities in developing financially sustainable adaptation projects and the innovative financial products, policies, approaches and actions needed to support these.

The challenge of scaling up adaptation finance is both daunting and difficult. It was encouraging to see progress made by EIT Climate-KIC’s innovation community, pioneering data-driven innovation spanning insurance, financial, and market-based approaches with the conversation ranging from insurtech, fintech, micro-finance, blended finance and the expansion of green and blue bond markets. 

SUMMARY:

1. Climate is no longer just an environmental issue; it already represents real economic ‘costs’
2. Climate risk management is essential to deliver global sustainable development goals (SDGs)
3. We need to act now to scale the action needed to future-proof our communities and economies by linking bankable adaptation projects with ‘patient’ public and private capital.
4. Closing the global infrastructure investment gap affordably and effectively necessitates scaling innovative, data-driven, whole-systems approaches to financing adaptation and climate resilience, especially in agriculture, landscapes and the built environment.

Read the full report here