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The financial sector plays a transformative role for a transition towards climate-resilient communities, natural systems and businesses. In 2021, US$21.3bn from international public financial resources were directed towards adaptation and resilience, while adaptation finance needs in developing countries are 10 – 18 times higher for this decade than previously estimated. While this is not only inadequate it also underscores that public finance alone will not cover the finance needed for adaptation and resilience.  

This session aims to spotlight the diversity of actors delivering and scaling financial solutions , from public finance and multilateral development banks, to the private sector, insurers and  philanthropy and that are bringing innovating tools, frameworks, capacity building , and finance mobilisation mechanisms needed to unlock adaptation and resilience action. This session will also bring the voices of the local community actors that are not only accessing the adaptation finance but are co-creating and leading on the decisions and implementation of the adaptation solutions and locally relevant options.

Objectives:

• Elevate the leadership within the Race to Resilience community and the actionable solutions within the Sharm el Sheikh Adaptation Agenda, focusing on near-term targets to mainstream adaptation across critical systems, including agriculture, health, oceans, and human settlement.
• Highlight the Transformative Role of the Financial Sector, how diverse financial actors, including public and private sector entities, are delivering and scaling financial solutions to support climate-resilient communities, natural systems, and businesses.
• Discuss on the role  and opportunities of innovative financial Mechanisms in addressing the adaptation finance gap.

Moderator:

Marcia Toledo Sotillo. High Climate Champions Team.

Speakers:

• Mahmoud Mohieldin. UN Special Envoy for Financing the SGDs. RtR Global Ambassador.
• Catalina García Carrasco. Minister of Sustainability and Environment Andalucía. SPAIN.
• Jane del Ser. Principal Consultant for MSEs, Livelihoods, and Climate Action. BFA Global and Cifar Alliance.
• Luca Torre. Founder & co-CEO. GAWA Capital.
• Leo Bejarano. Head. Catalonia Climate Change Office. SPAIN.
• Christoph Jungflesich. CEO. YAPU Solutions & Scale for Resilience.