Financing Adaptation

Sufficient financial resources and capacity to access available resources are critical for adaptation. Also, various financial mechanisms, incentives and budget systems are needed to implement climate adaptation measures. In addition, the process of comparing different measures, including their costs and benefits, sometimes also consulting with stakeholders for their preferences is important. This can be part of the risk dialogues, when different climate impacts, and needed strategies are discussed. The economic impacts of potential disasters if not prevented also needs to be understood.

Why?

Understanding the financial implications of climate impacts, provides the rationale for making decisions on investments. Financial mechanisms can provide incentives for actors to make adaptive choices. This is for example clear in urban development when space is needed to absorb rainwater and prevent flooding. This requires reserving space for infiltration, via for example nature-based solutions. However, it is not seen as having a direct financial benefit for the developer, it will not be implemented.

The figure illustrates the important need for pooling of resources in climate adaptation. For example, if a coastal dune protects the coastline from flooding, maintaining this coastal protection also benefits tourism and recreation that provide great financial revenues and socio-cultural values. Investing in the beach could therefore pool resources from these mentioned sectors. 

Articles

city
Event

Global knowledge exchange - Urban Climate Risk Assessment

13/02/2023 - 15:00 to 17:00

On February 13, 2023 at 15:00-17:00 CET an interactive global knowledge exchange on urban climate risk assessment will  was hosted for city officials and risk assessment practitioners to discuss and exchange knowledge on assessing and addressing informal settlements, and exchange knowledge of successes and challenges with implementation, after risk assessments.

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Forests need additional funds for adequate protection
Article

Forest Resilience Bonds enable private investments to mitigate wildfires and drought

Prolonged droughts in the western USA have led to the need to bring in private investments to mitigate wildfires, floods and erosion. Forest Resilience Bonds are a public-partnership model to bring new resources for management and are gaining ground rapidly.

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News and Events

 

 

State and Trends in Adaptation 2021 : Africa
Event

Webinar: Water in the State and Trends in Adaptation Report 2021: Africa

15/12/2021 - 10:30 to 12:00

This webinar brought out water perspectives on adaptation for Africa, drawing on the State and Trends in Adaptation Report 2021: Africa report in the light of climate change, and how water adaptation gave opportunities to leverage water for economic and human development.

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From CAS to COP NY Climate week
Event

Webinar: Accelerating Adaptation Action: From CAS 2021 to COP 26 and Beyond

24/09/2021 - 21:45

A side event at the UN General Assembly 2021, reviewed progress made towards climate adaptation since the Climate Adaptation Summit 2021. Global leaders highlighted solutions and identified outcomes to ensure adaptation contributed to a successful COP26.

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Resilience Hub event
Event

Webinar: Leveraging Water for National Climate Planning

04/11/2021 - 13:15 to 14:45

This webinar aimed at identifying elements which should be part of a strategy for resilient water policies, tools and methods to mainstream water resilience. It aimed at identifying how the international community can support national level water resilience.

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Financing at national level
Financing at regional level
Financing at local government level
Financing at community level