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Plenary Session on Finance and Investment
March 12, 2021 @ 9:45 am - 10:45 am UTC+7
About the Session:
This session will share good examples of finance and investment flows that allow building inclusive resilience society, resilience of economic sectors, of nature and of local communities against the adverse impacts of climate change, trying to identify major gaps. This session will share examples of finance and investment by the Green Climate Fund, the Global Environment Facility, Multi-lateral Development Banks as well as from governments. It also aims to bring out some key messages and recommendations on actions required in the area of climate finance and investment to scale-up adaptation actions and enabling resilience for all.
- Significant gap in financing and investing in adaptation actions is well recognised. The most vulnerable populations are not benefiting from current climate finance and investment. Only a fraction of adaptation finance that made available globally reach to them. Shift is necessary as this will not deliver intended results.
- Transformation is urgent and without shift from a time-bound that governed by a rigid results-based project financing “predict-and-act” approach to a wider approach to incorporate range of possible future climate risks and development scenarios, it will not deliver intended long-term adaptation results.