Event Climate-Responsive Fiscal Planning for Scaled-up Investment in Climate Adaptation

GCA Pavilion

15 November 2022, 14:30 EGY

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Source:

This event will explore how countries are assessing and
managing climate-related fiscal risks to mobilize and align
public and private financial flows for investment in climate
adaptation

Event description:

The recent Intergovernmental Panel on Climate Change (IPCC) assessment report highlights the need to move away from fragmented, short-term, and incremental investment in adaptation to investments that will enable transformation and system transitions.

Investment in adaptation is estimated to cost an annual US$160 billion to $340 billion in developing countries by 2030 and $315 billion–$565 billion by 2050. Current levels of adaptation finance amounted to $46 billion in 2019-2020, which is much below the demand.

The Paris Goal on Finance recognizes the need to not only ‘scale-up billions of financial flows for adaptation, but to fundamentally align the trillions of public and private financial flows and investment with adaptation and resilience’.

Climate-responsive fiscal planning is critical to scale-up and align financial flows behind climate-resilient development.

This event will explore how countries are assessing and managing climate-related fiscal risks to mobilize and align public and private financial flows for investment in climate adaptation.

Agenda

Opening Remarks

  • Bruno Carrasco, Director General, Sustainable Development and Climate Change Department, Asian Development Bank (ADB)
  • Paul Hartman, Lead, Nature-Based Solutions and Forestry, Climate Investment Funds

Global Best Practice on Climate-Responsive Fiscal Planning

  • Nanki Kaur, Senior Climate Change Specialist, ADB

Panel Discussion: Country Experiences

  • Farhina Ahmed, Secretary, Ministry of Environment, Forest, and Climate Change, Bangladesh
  • Gayane Gabrielyan, Deputy Minister of Environment, Republic of Armenia
  • Jahndery Muñoz Gil, Head Coordinator for Promotion and Support for Climate Action, National Council for Climate Change and CDM, Dominican Republic
  • Kewal Bhandari, Secretary, National Planning Commission, Nepal
  • Charlotte Benson, Principal Disaster Risk Management Specialist, ADB
  • Coalition of Finance Ministers

Closing Remarks

  • Nitin Jain, Global Program Lead, Infrastructure & Nature-Based Solutions, Global Center on Adaptation

Facilitator: Arghya Sinha Roy, Asian Development Bank

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