(11:00 - 12:00 EET) Leveraging Private Sector Investment in Adaptation

Despite an increase in climate finance, enormous gaps remain in finance for developing countries. Bringing adaptation projects to the stage where they bring real protection against climate impacts such as droughts, floods and sea-level rise remains a challenge. The private sector remains an untapped source of finance, expertise and ingenuity. Adaptation attracts only 25% of total international climate finance and less than 2% come from the private sector. This is mainly through the use of blended finance, but not solely. There is an urgent need to scale up and further increase public adaptation finance both for direct investment and for overcoming barriers for private sector investments in adaptation and strengthening resilience, particularly for the most vulnerable.