Adaptation remains critically underfunded with developing countries’ needs currently estimated at $215-$387bn a year, compared to international public finance flows of $28bn (2022). As adaptation needs are increasing, aid budgets are reducing, debt levels are rising, and fiscal space is tightening, there are increasing hopes and expectations that the private sector can fill the adaptation funding gap.
The Zurich Climate Resilience Alliance and Paul Watkiss Associates will use this event to present their latest report highlighting new data showing the role, potential and limits of private adaptation finance. The issue of finance underpins many climate negotiations, and the lack of finance often prevents real progress. Breaking that deadlock requires a clear, evidence-based understanding of the current situation and what is possible.
As COP30 approaches, this event will provide an informal space to bring together some key voices in this debate – including negotiators, NGOs and thought leaders – to discuss the role of the Baku to Belém Roadmap, the Baku Adaptation Roadmap and other critical processes in delivering adaptation finance, and identify what is required to make progress until Belém, and beyond. This will include:
- How to increase adaptation finance through a new commitment – akin to the doubling target that was agreed at COP26 in Glasgow.
- How to ensure that the Baku to Belém Roadmap provides an effective and realistic pathway to meeting adaptation finance needs, including for LDCs and SIDS, where grant and highly concessional finance is often required. This requires a careful exploration of the role, limitations and opportunities for different kinds of public and private finance.
When and where?
Thursday 4th September, 15:00-16:00 CEST, Online
Participants
- Paul Watkiss, Director, Paul Watkiss Associates
- Rik Den Hoedt, Adaptation Negotiator, The Netherlands
More speakers to be confirmed.
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