Enabling Private Investment in Climate Adaptation and Resilience

Tall, Arame; Lynagh, Sarah; Vecchi, Candela Blanco; Bardouille, Pepukaye; Pino, Felipe Montoya; Shabahat, Elham; Stenek, Vladimir; Stewart, Fiona; Power, Samantha; Paladines, Cindy; Neves, Philippe; Kerr, Lori

doi:10.1596/35203

Cited by 19 publications

(19 citation statements)

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“…As identified by Ampaire (2020), such improper institutional coordination can lead to inefficient financial management and affect the process of climate change policymaking and implementation. Lack of climate-related data and information was identified as another barrier, by Tall et al (2021). Similarly, problems of data accessibility driven by root causes, availability of most of the data in different formats and non-availability of all the required data in one platform, have become major constraints in climate change policy implementations in Sri Lanka.…”

Section: Discussionmentioning

confidence: 99%

“…More importantly, the financial constraints mainly include a lack of funding for the policy implementations, which is the primary issue in most of the developing countries (Tall et al , 2021). More succinctly, lack of funds has limited the execution of climate change responses considerably.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Hence, lack of institutional coordination can be regarded as another barrier to invest in these policy implementation activities. Added to this, limited clarity on the government’s capital investments has constrained the ability of most of the developing countries to attract required funds for climate actions (Tall et al , 2021). For instance, the relevant parties have not clearly identified where private sector investments are needed in these policy implementations.…”

Section: Literature Reviewmentioning

confidence: 99%

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Climate financing barriers and strategies: the case of Sri Lanka

Dasandara

Ingirige

Kulatunga

et al. 2022

JFMPC

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Purpose Climate change mitigation and adaptation play an important role in overcoming the climate change challenges facing Sri Lanka today. Many initiatives have been undertaken to implement different policies and plans in this regard, which require considerable mobilisation of national and international financing. In acquiring climate finance, many barriers can be identified. This paper aims to investigate such barriers to climate financing in Sri Lanka and proposes strategies to address them. Design/methodology/approach The qualitative research approach was undertaken in this study by conducting ten semi-structured interviews with experts who are involved in climate change policy implementation activities in Sri Lanka. The collected data were analysed using the content analysis method via Nvivo software. Findings The empirical findings unveil six key barriers and the corresponding root causes to climate financing in Sri Lanka. Inadequate domestic funding for climate actions was captured as the dominant barrier in this direction. This study also revealed that barriers and their root causes are interconnected, leading to many financial limitations in implementing climate actions. The importance of playing a leading role by the government and enabling an integrated approach between the private and public sector organisations were identified as key strategies to combat climate finance barriers. Originality/value Despite there being studies focusing on climate change and related policies, limited research has been carried out with regard to climate financing. Within this context, this study makes an original contribution in the area of climate financing with particular reference to a developing country like Sri Lanka. Further, the identification of barriers to climate financing, their root causes and strategies to address them also provides an original contribution to theory and practice.

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Section: Discussionmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

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Climate financing barriers and strategies: the case of Sri Lanka

Dasandara

Ingirige

Kulatunga

et al. 2022

JFMPC

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“…Only $500 million of climate change adaptation financing (1.6 per cent of the total) came from private sources in 2021. 94 The low levels of investment in climate change adaptation can be attributed, in part, to the lack of climate-related risk disclosures to inform capital investment planning.…”

Section: Box 3 the Tcfd And Climate-disclosure Mechanismsmentioning

confidence: 99%

The response of the international economic architecture to climate change

Kocharekar¹

2023

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According to the Intergovernmental Panel on Climate Change, the world is failing to meet the targets of the 2015 Paris Agreement on climate change, with global temperatures on a path towards increasing by more than 1.5°C above pre-industrial levels. The global economy must rapidly decarbonize and scale up support for climate change adaptation if the Paris Agreement’s targets are to be met and the worst effects of climate change averted. The existing ‘international economic architecture’ – a patchwork of multilateral institutions, supervisory agencies and assorted forums – has been poorly equipped to deliver on this transition. It is fragmented, lacks effective regulatory frameworks for climate action, and relies on institutions that hitherto have not – at least until very recently – considered climate change as central to economic policy. This paper catalogues current efforts to address climate change within multilateral economic and financial institutions and related organizations. It also proposes a minimum set of policy measures that need to be prioritized by such institutions to support climate change mitigation and adaptation. The proposals include expanding public climate finance via multilateral development banks, doing more to mobilize private investment, mainstreaming climate considerations across institutional operations, making climate disclosures mandatory, and addressing sovereign debt distress to unlock private climate finance.

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“…To pursue transformative approaches, funding needs are tremendous, with the question of funding central to the priorities of cities’ stakeholders. An analysis of multilateral donors shows, however, that climate adaptation is not yet prioritized in international aid (Tall et al, 2021). Some programs support the scaling up of bankable projects, but it is very difficult for many cities in poorer regions and countries to access existing funds.…”

Section: Critically Examining Local Climate Disaster Management and R...mentioning

confidence: 99%

Resilience and Climate Disaster Management in Cities: Transformative Change and Conflicts

Gaborit¹

2022

Journal of Peacebuilding & Development

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This article considers local resilience strategies and climate disaster management response in cities, as well as their impacts in terms of climate adaptation and transformative change. It argues that the soaring use of the concept of resilience is concealing a discrepancy between the ambitions and the solutions for the implementation of better, fairer, and more trustworthy climate adaptation solutions. Cities’ stakeholders are increasingly confronted with trade-offs, while they are often ill-equipped with a lack of facilities, accessible funding, and a limited capacity to address the multiple challenges. Vulnerable populations and poorer groups remain increasingly exposed to climate disasters. The lack of clarity in land-use mechanisms, as well as the multiple obstacles to solutions for climate adaptation, is fueling social conflicts. Multi-stakeholder dialogue, cooperation, local engagement, and a renewed international attention are needed to bring about the transformative change necessary to achieve local resilience, and to generate sufficient trust in the response process to climate disasters.

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Enabling Private Investment in Climate Adaptation and Resilience

Cited by 19 publications

References 0 publications

Climate financing barriers and strategies: the case of Sri Lanka

Climate financing barriers and strategies: the case of Sri Lanka

The response of the international economic architecture to climate change

Resilience and Climate Disaster Management in Cities: Transformative Change and Conflicts

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