CoAct Database

Call for Collaboration to mobilise private finance for adaptation and resilience

The financial system has the potential to drive transformational change towards climate-resilient countries, communities, businesses, and natural ecosystems. A growing number of insurers, banks, and investors worldwide increasingly recognize the risks of inaction and the emerging opportunities related to adaptation and resilience. Private financial institutions today are investing in adaptation and resilience and implementing the necessary financial instruments, frameworks, and metrics. Yet action is incremental and requires the development of further enabling conditions for the nascent adaptation and resilience market. This call for collaboration is also an offer from private financial institutions to policymakers to actively support the creation of the enabling environment to accelerate the growing efforts and further mobilise private finance for adaptation and resilience to where it is needed most. To support this aim, private finance and supporting partners offer to: 1) Identify the specific barriers, country-specific contexts, as well as financing and capacity, needs to further mobilise private finance locally, nationally, regionally, and globally and to contribute insights indicating specific actions required to scale up financing for adaptation and resilience; 2) Share knowledge, data, best practices, and strategies to expand investments in adaptation and resilience with nature as an integral part of the solution; 3) Ideate, pilot, and promote existing frameworks and taxonomies to encourage assessment of physical climate risks and resilience, protection from physical climate risks and investments into adaptation and resilience; 3) Build capacity on financing adaptation and resilience with other private sector partners, policymakers, think tanks, NGOs, and philanthropy; 4) Convene key actors inter alia philanthropy, public and private financial institutions, businesses, and civil society, and engage with governments to put in place appropriate investment plans for adaptation, backed by data and reflecting local needs.

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