We need more private investments in adaptation in developing countries

Developed countries have promised to scale up their adaptation support to developing countries, but even if they deliver on their promises, it won’t be enough.

Additional actors are greatly needed, both civil society and the private sector must engage. However, experience shows very few private investments in adaptation, especially in the poorest countries.

A new report “Private investments in adaptation” from DanChurchAid point at both challenges and opportunities related to investments in adaptation, benefitting the poorest and most vulnerable countries.

The Secretary General of DanChurchAid, Birgitte Qvist-Sørensen, comment:

"There is an urgent need for us all to adapt to the effects of climate change. The challenge, and the threat, especially towards vulnerable communities in developing countries, is increasing rapidly. We must now look for all possibilities for adaptation, and civil society, local communities, private companies, and investors must work together."

"Indeed, there are opportunities where companies and investors have a good business case, and where local communities can benefit from adaptation initiatives"

"I acknowledge that there are challenges related to private investments in adaptation, but that should not turn us down. On the contrary, we must look for the opportunities, and find solutions together."

The conclusions in the report are clear. There are opportunities where companies and investors have a good business case, and where local communities benefit from adaptation initiatives. The report also stress that challenges must be acknowledged, and that initiatives to reduce risks and promote successful investments are needed. At the same time, investments must also be done in a responsible manner, ensuring that the rights of workers and their families, and their local communities, are not violated.

A full list of recommendations can be found in the report.