Driving Today’s Financial System for the Resilient Climate of Tomorrow

Presented by

Paul Smith (UNEP FI), Alan Miller, Stacy Swann (Climate Finance Advisors), tba (Global Commission on Adaptation)

About this talk

Launch of the UNEP FI / GCA paper on adaptation finance. Failure to adapt to climate change is one of the greatest risks to global economic growth and social stability. The Global Commission on Adaptation (GCA) was launched in October 2018 to accelerate adaptation action and support. At September’s UN Climate Summit in New York, Ban-Ki Moon, Bill Gates and Kristalina Georgieva will present the recommendations of the GCA's initial flagship report, which will make the case for prioritising climate change adaptation from the local to the global level. The UNEP Finance Initiative provided key inputs to the finance chapter of this report through a paper on adaptation finance, authored by Stacy Swann and Alan Miller of Climate Finance Advisors. Today, UNEP FI will launch the paper, which identifies barriers to increased financing for adaptation and presents six clear recommendations for the finance sector, including climate risk management, standards for data and metrics, capacity building, unlocking investment opportunities and delivering adaptation-related policies

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United Nations Environment Programme Finance Initiative (UNEP FI) is a partnership between United Nations Environment and the global financial sector created in the wake of the 1992 Earth Summit with a mission to promote sustainable finance. More than 240 financial institutions, including banks, insurers, and investors, work with UN Environment to understand today’s environmental, social and governance challenges, why they matter to finance, and how to actively participate in addressing them. UNEP FI’s work also includes a strong focus on policy – by facilitating country-level dialogues between finance practitioners, supervisors, regulators and policy-makers, and, at the international level, by promoting financial sector involvement in processes such as the global climate negotiations.