Global S&T Development Trend Analysis Platform of Resources and Environment
Understanding and Increasing Finance for Climate Adaptation in Developing Countries | |
Valerio Micale; Bella Tonkonogy and Federico Mazza | |
2018-12 | |
出版年 | 2018 |
语种 | 英语 |
国家 | 美国 |
领域 | 气候变化 |
英文摘要 | This report explores the current state of finance for climate adaptation and proposes practical, near term solutions to both fill in knowledge gaps and to increase investment. While many of the suggestions can also be applied in developed countries, which often face similar challenges in measuring and deploying adaptation finance, the focus of the report and selected examples highlight the role for developing country national governments and stakeholders, such as development finance institutions, local governments, and civil society organizations including academic institutions in supporting increased knowledge and investment in adaptation. The report benefits from discussions held during three adaptation finance focused workshops organized by CPI and adelphi in 2018 to present and discuss preliminary findings of this study. There is an urgent need to spur greater investment into climate adaptation and resilience, in both the public and private sectors. The frequency and magnitude of natural hazards triggered by climate change has been increasing globally, leading to USD 1.5 trillion in economic damages from 2003 to 2013 (FAO, 2015), in addition to impacts to human and ecosystem health. However, current investments in adaptation constitute only a fraction of what is needed to avoid costly and catastrophic future impacts. The costs of adaptation in developing countries could range from USD 140 billion to USD 300 billion per year by 2030 (UNEP 2016). At the global scale, costs are likely to be between USD 280 billion and USD 500 billion per year by 2050, with even higher costs possible under higher emissions scenarios (UNEP 2016). Despite the significant climate risks at hand, combined with countries’ efforts to implement policies that are conducive to scaling-up finance for climate change, investment in the sector has not taken off, with USD 22 billion of tracked global investment to address climate change going towards adaptation activities in 2016 (Oliver et al., 2018). The measurement and disclosure of climate risk is the first step to developing strategies to address risk as part of all investment decisions. Regular assessment and disclosure also helps to measure the effectiveness of interventions over time. In addition, tracking investment in adaptation and risk reduction is important to understand where investment is – and isn’t – happening. However, there is no standard format to report on climate finance (and thus adaptation finance) for developed and developing countries so far (UNFCCC, 2016), though countries can do so in their National Communications, Biennial Update Reports (BURs), and Nationally Determined Contributions (NDCs). In addition, there is still little agreement on what qualifies as adaptation finance and how it should be measured (UNFCCC, 2016). Adaptation activities are project and location specific, and they respond to specific climate vulnerabilities. Unlike mitigation activities, it is not possible to produce a standalone list of adaptation activities that can be used in all circumstances as adaptation investment often involves mainstreaming resilience into all investment decisions. In addition, as climate resilience and adaptation are intrinsically linked to development, it is difficult to distinguish between a standard development project and a development project that contributes to climate change adaptation. Multilateral development banks have developed agreed upon tracking methodologies, resulting in the most comprehensive datasets available (MDBs, 2018, MDB-IDFC, 2018). However, these methodologies have not been widely adopted. Furthermore, several barriers exist – relevant to both public and private investment – that are preventing or slowing the adoption of adaptation practices, services, and technologies at the scale that is needed, especially in developing countries (Hallmeyer and Tonkonogy, 2018). These include:
Many approaches have been proposed and/or implemented to address investment barriers in adaptation. They often focus on specific areas of risk management, for example increasing the availability and adoption of risk assessment tools, or providing financing for risk reduction or transfer. Solutions can be arranged into three groups, which can address the investment barriers described above.
The role of developing country governments While many aspects are also of relevance for developed countries, we have identified the following suggestions for developing country governments to enhance understanding of adaptation finance and drive further investment into adaptation through improved tracking, public policy, and finance. Supporting risk assessment and tracking efforts Domestic public actors have the largest incentive to fill the gaps in measuring adaptation progress. This includes assessing risks, and measuring actions taken to reduce risk. In particular:
Actions to increase investment Developing country governments will need to support a multitude of efforts to meet the adaptation goals and priorities outlined in their NDCs and other relevant strategies and plans. These include efforts that help increase demand for climate adaptation products and services that measure, reduce, and/or transfer climate risks; increase supply of these products in local markets; and de-risk adaptation investments using different policy and financial tools.
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英文关键词 | adaptation finance climate finance climate investment climate policy developing economies Nationally Determined Contributions (NDCs) |
URL | 查看原文 |
来源平台 | Climate Policy Initiative |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/242558 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | Valerio Micale,Bella Tonkonogy and Federico Mazza. Understanding and Increasing Finance for Climate Adaptation in Developing Countries,2018. |
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