Engaging the Private Sector for Adaptation

Developing countries need an estimated US$340 billion by 2030 to adapt to the impacts of climate change (UNEP). However, only a small share of global climate finance is dedicated to adaptation ($46 billion out of $632 billion) and it is largely funded by public sources (CPI). Data on private finance for adaptation is largely missing; CPI estimates less than 2 percent of the total adaptation finance can be tracked to private sources. At the same time, WEF estimates the adaptation market could be worth $2 trillion annually by 2026.

Considering the needs, as well as the significant opportunities for the private sector, this webinar aimed to showcase relevant initiatives and experiences in engaging private sector for adaptation in developing countries and emerging best practices and lessons learned. The webinar was part of the global exchanges organized by UNDP as part of its support to the UN Secretary General led Adaptation Pipeline Accelerator (APA) initiative. Organized in collaboration with the SCALA Programme, the webinar showcased insights and approaches from SCALA, which addressed many of the barriers for enhanced private sector engagement in scaling up climate action in the agriculture and land use sectors. The webinar highlighted SCALA country experiences on fostering partnerships between private and public sector actors to engage businesses in implementing climate plans to mobilize resources and develop innovative climate services solutions.

Agenda

• Opening remarks by Srilata Kamilla, Head of Climate Change Adaptation, UNDP
• Panel discussion:
  • Joseph Ali, Founder and CEO of Co-farms, Nigeria
  • Thierry Watrin, Green Economy and Climate Finance Advisor to the Minister in Charge of Finance and Economic Planning, Ministry of Finance and Economic Planning, Rwanda
  • Anjali Viswamohanan, Director Policy, Asia Investor Group on Climate Change
  • Presentation by Julie Teng, Technical Specialist on NAPs and Global Coordinator, Scaling up Climate Ambition on Land Use and Agriculture Programme (SCALA), UNDP
• Discussion and Q&A

Moderator: Chongguang (Charles) Yu, Climate Finance and Investment Specialist, UNDP

The full webinar recording is available here.

The webinar was held in English, with French and Spanish simultaneous interpretations.