Unlocking private investments in adaptation

Folkekirkens Nødhjælp

31 March 2023, 8:30 CET

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A roundtable dialogue organized by the Danish Ministry of Foreign Affairs, DanChurchAid, the Confederation of Danish Industry, and the Global Center on Adaptation

Event description:

The Danish Ministry of Foreign Affairs, DanChurchAid, the Confederation of Danish Industry, and the Global Center on Adaptation convened Danish partners for a roundtable dialogue to present the business case for adaptation investments and inspire the private sector in Denmark to invest in adaptation in the countries most vulnerable to climate change.

Based on the findings of GCA’s flagship report State and Trends in Adaptation 2021 and 2022, and DanChurchAid’s 2022 report, the objectives of this roundtable dialogue are to:

  • Discuss how international organizations and governments address risk to facilitate private investments.
  • Unpack the needs, challenges and opportunities that underpin the shortfall in private investment in climate adaptation.
  • Showcase and discuss viable solutions and opportunities for scaling up private adaptation financing.
  • Inspire the private sector in Denmark to invest in adaptation globally, with a focus on most vulnerable countries

Despite increasing costs associated with delayed action, climate adaptation faces a serious and urgent shortfall in funding, particularly in the most vulnerable countries. For example, new analysis from GCA in Africa in STA22 suggests that current annual spending on adaptation across all of the continent is $11.4 billion. This amount falls far short of the actual adaptation needs, which require additional funding of at least $41.3 billion each year.
 
To incentivize a wide range of potential actors, it is necessary to build an enabling environment for adaptation investment and deploy innovative instruments to unlock finance at scale towards adaptation, such as blended finance. Given the scale of the challenge, successful adaptation and resilience efforts will need the meaningful engagement of the private sector.

AGENDA
8.30 – 9.00 Mingle and coffee

9.00 – 9.05 Welcome remarks by the Moderator

  • Moderator, Mette Vibe Utzon

9.05 – 9.25 Opening Keynotes

  • Birgitte Qvist-Sørensen, General Secretary, DanChurchAid 
  • Dan Jørgensen, Minister for Development Cooperation and Global Climate Policy, Denmark
  • Prof. Dr. Patrick V. Verkooijen, Chief Executive officer, GCA
  • Thomas Bustrup, Deputy CEO, Confederation of Danish Industry 

9.25 – 9.40 Reactions
The moderator welcomes two remarks from the audience, and the four keynote speakers are invited to respond

9.40 – 9.45 Roundtable

  • Moderator: Introductory remarks

9.45 – 10.15 Framing presentations

  • GCA: Financial Instruments for Adaptation
  • Andrea Voigt, Head of Global Public Affairs, Danfoss Climate Solutions
  • Peter Damgaard Jensen, former CEO of PKA and former member of the Global Commission on Adaptation
  • Gitte Dyrhagen Husager, Head of Programme, Advocacy and Learning, DanChurchAid
  • Representative from IFU (No presentation)

10.15 – 10.55 Dialogue
Facilitated by the moderator

10.55 – 11.00 Summary and Conclusion by Roundtable Dialogue Moderator 

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