Article by GCAP's Tom Downing for the IDB/NDF PROADAPT Private Markets for Climate Resilience project (repost via PROADAPT)
Global investment in climate adaptation is currently running around $25 billion per year. How much finance do we need? Can we get ahead of the game?
Last year, we posted a series of audio-blogs outlining the key events of the 22nd Conference of the Parties as they unfolded. To continue with our tradition, we are commemorating the start of the UNFCCC’s COP23 with thoughts from GCAP CEO Tom Downing!
... No one knows!
According to the Centre for Disaster Management and Risk Reduction Technology in Germany (by way of the Economist), rebuilding the Caribbean (including Puerto Rico) in the aftermath of Irma will cost nearly US$13bn. Critical to any reconstruction effort is an understanding of climate finance flows and what outcomes are produced for the communities.
