This side event showcases ways to engage with the private sector early in the elaboration and implementation of national adaptation processes and to crowd in private sector finance for their implementation using innovation and blended finance approaches. Climate change comes at a cost, and adaptation planning is a solution that makes economic sense for private sector operations. The session will bring out key messages on best practices to mainstream private sector engagement in National Adaptation Plans (NAPs), and concrete examples of financial solutions to attract and de-risk private sector investments.
Ways to overcome barriers to adaptation finance will be discussed during the side event, focusing on sustainable financing for climate adaptation in agriculture and vulnerable beneficiaries. Solutions to attract private sector investments for adaptation will be explored by panel members, including the need for a shift in the design of adaptation interventions to consider, for example, ecosystem-based adaptation approaches, value chains and related potential revenue streams, and a corresponding provision of innovative financing mechanisms and instruments that use blended finance solutions.
