Tackling the true cost of financing adaptation: Insights from the UNEP Adaptation Gap Report 2023 and what it means for the financial sector

The 2023 UNEP Adaptation Gap report delves into the costs of adaptation for developing nations. This panel session will unveil and discuss updated financial data and analysis from the report, reflecting actual adaptation costs aligned with developing countries' Nationally Determined Contributions and National Adaptation Plans. The session will also explore how financial institutions can expand climate-resilient finance and embed assessments of physical climate risks across the sector. Finally, the session will aim at fostering a systematic response from the global finance sector to Article 2.1(c) of the Paris Agreement, making global financial flows inherently 'climate-resilient.'

Speakers:

Henry Neufeldt, Chief Scientific Editor, UNEP’s Adaptation Gap Report, UNEP Copenhagen Climate Centre Pieter Pauw, Researcher, Eindhoven University of Technology Amal-Lee Amin, Managing Director Climate Change, British International Investment Lesley Ndlovu, CEO, African Risk Capacity Lina Osman, Head of Sustainability West, Standard Chartered Bank