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.

Private investment in climate adaptation in developing countries encounters several challenges, including the undervaluation of business opportunities and returns on investment, limited access to localized climate risk and vulnerability data, and inadequate institutional arrangements and adaptation policies. Information and knowledge, prove of concepts, methodologies and analysis metrics and tools are key to mitigating several risks that hinder private sector investments in climate change adaptation.

The Climate Adaptation Innovation Learning (CAIL) project accelerates innovation and private sector engagement in climate change adaptation by creating 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.

The exchange of knowledge and learning in these three areas through thematic events, webinars, white papers, policy briefs and blogposts provides compelling evidence to stimulate private sector investments in adaptation innovation projects while amplifying the impact of ongoing projects.

Key Objectives

This side event will adopt the World Café format, providing an interactive, engaging and collaborative platform to discuss key questions aimed at stimulating private sector engagement in climate adaptation. The event will consist of three simultaneous roundtable discussions, each dedicated to one of the CoPs’ key themes. Participants will be divided into three small groups, with each group seated at a different table. Each Community lead will introduce the key questions and act as a facilitator, allowing participants to share insights, experiences, and lessons learned. Discussions will occur simultaneously for 18 minutes, after which participants will rotate to the next table, ensuring everyone engages with all three topics. The facilitators will moderate the discussions and take note of the key discussion points. After the three roundtable discussions, the facilitators will present a summary of the main takeaways, fostering reflection on the overall insights shared. A blogpost will capture the key takeaways of the event and will be published on the CAIL website. This format will encourage collaborative dialogue, the cross-pollination of ideas, and deep participation in a structured, yet flexible, conversational environment.

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)