According to the Centre for Disaster Management and Risk Reduction Technology in Germany (by way of the Economist), rebuilding the Caribbean (including Puerto Rico) in the aftermath of Irma will cost nearly US$13bn. Critical to any reconstruction effort is an understanding of climate finance flows and what outcomes are produced for the communities.
The Green Climate Fund (GCF) has just approved a further 11 projects, totalling $393m in funding to help countries respond to climate change. Encouragingly, over half of these are projects either with an adaptation or resilience focus, or which combine low carbon and resilience components.
Steven Wilson was at the Wilson Center representing ProAdapt (which funds one of our major projects). The seminar highlighted that sustainable business might create $12 trillion in revenue by 2030. How large is the market for private sector products and services for climate resilience? This is the quite open question we are working on.
We'll be at the European Climate Change Adaptation Conference in Glasgow this week, mostly in the Business and Innovation sessions. We're excited to be pitching in the Resilience Innovation Challenge on Wednesday, and looking forward to seeing old and new faces! Hoping for lots of stimulating conversations and good discussion around our work on Private Markets for Climate Resilience. See you there!