Background

Climate change disproportionally impacts the most vulnerable in developing countries, which are characterized by low climate resilience, high vulnerability and high exposure to extreme events such as floods, droughts, storms, and cyclones. At the same time, international adaptation finance flows in developing countries are 5-10 times below estimated needs and the gap is widening. To bridge this financing gap, it is imperative to promote private investment.

Investing in climate resilience and adaptation is an unavoidable opportunity. Globally, companies are already innovating on products and services that will make communities, business, and nations more resilient to climate change. As businesses respond to demands in the market with their products and services, private sector investors can support their innovation and growth. How do investors identify the unavoidable opportunity for their portfolios? How do public sector organizations like DFIs mitigate risk for private sector investors through blended finance vehicles and investment guarantees? Since climate adaptation and resilience is a lens not a sector, and pans every region and sector, how do we create consistency in impact frameworks? And how do we strengthen and meet the financial needs of pipeline companies?

The Climate Adaptation Innovation Learning (CAIL) project addresses these key questions by accelerating innovation and private sector engagement in climate change adaptation. It creates a unique knowledge sharing platform and three Communities of Practice (CoPs), each focusing on a key area for mobilizing private sector investment and led by a partner with extensive experience in these areas:

1. Investment funds, led by GARI;
2. MSMEs incubation and acceleration, led by Climate-KIC; and
3. Climate change adaptation impact measurement and information flows, led by UNEP FI.

Key Objectives

This event will highlight the growing investment opportunities in climate adaptation and resilience, drawing on key insights from the CAIL project. It will address critical barriers to unlocking these opportunities, including developing a taxonomy and building a robust pipeline of investable projects. Participants will gain insights on investment opportunities in this space, impact measurement, data and information flows for adaptation investments and best practices in acceleration and incubation, with perspectives from CAIL Communities of Practice leads: GARI, Climate-KIC and UNEP FI.

This event is a unique opportunity to connect with experts and stakeholders committed to fostering private sector action in climate adaptation and resilience. As a concrete outcome, a summary of the event will be published on the CAIL website, providing actionable insights to seize the unavoidable opportunity of investing in climate adaptation and resilience.

Event Agenda and Speakers

The Global Adaptation & Resilience Investment Group (GARI) leads the Community of Practice on Investment funds. GARI is a private sector, private investor-led initiative that brings together investors from the private and public sector, bankers, lenders and other stakeholders to discuss climate adaptation, resilience and investment to assess, mobilize and catalyse action and investment. GARI has a track record of experience convening virtual and physical meetings and has a network of over 500 private and public stakeholders engaged and looking to be engaged in climate change adaptation.

Climate-KIC leads the Community of Practice on MSMEs incubation and acceleration. Climate-KIC is a knowledge innovation community working to accelerate the transition to a zero-carbon, climate-resilience society. It has established an extensive, global network of platforms supporting the incubation and acceleration of climate start-ups in LDCs and middle-income countries around the world, working with local acceleration partners.

The United Nations Environment Programme Finance Initiative (UNEP FI) leads the Community of Practice on Climate Change Adaptation Impact Measurement and Information Flows. UNEP FI is a partnership between UNEP and the global financial sector to mobilize private sector finance for sustainable development, bringing together a diverse membership comprising more than 500 financial institutions worldwide to help create a financial sector that serves people and planet while delivering positive impacts. As part of our growing program to support the mainstreaming and acceleration of climate resilient finance, UNEP FI is exploring how the finance sector can access better information to identify, measure and manage physical climate-related risks, as well as identifying adaptation needs and opportunities and their impact.

For more information, please contact:

Caterina Bianco (c.bianco@unido.org)