OECD COP29 Virtual Pavilion

Accelerating investment in adaptation: launching the OECD’s Climate Adaptation Investment Framework

OnlineNov 14, 2024 | 12:00 PM - 1:00 PM

Adaptation & resilienceFinance

Description

Climate change impacts are increasingly being felt and are projected to become more extreme. Investment in climate adaptation can reduce losses, protect lives and livelihoods, and contribute to sustainable development. Yet, current levels of investment are insufficient: developing countries will require an estimated USD 215 billion per year to adapt to climate change, and investment needs in high-income countries are likely to be in a similar order of magnitude. Current recorded finance flows for adaptation are only in the tens of billions of dollars per year. Private sector investment remains largely untapped, with annual average recorded flows of USD 4.7 billion between 2019 and 2022. This session will launch the OECD Climate Adaptation Investment Framework, developed to help governments put in place the policies needed to increase public and private investment in climate change adaptation. It will include a panel discussion on how governments, multilateral development banks (MDBs) and the private sector can help to unlock adaptation investment at scale.

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