COP27 : watch the virtual roundtable "Scaling up climate adaptation finance in times of growing public debt, inflation and natural disasters"

The recent United Nations Intergovernmental Panel on Climate Change 6th Assessment Report presented evidence of growing economic and financial impacts of climate change. Adapting to climate physical risks requires massive, timely investments, and yet, adaptation finance is still lagging behind in both high-income countries and emerging market and developing economies.

The growth of public debts in response to the pandemic and rising inflation from the energy prices opened concerns about debt sustainability and sovereign spending capacity for adaptation. The International Monetary Fund (IMF) and World Bank Annual Meetings as well as the Group of 7 (G7) Summit highlighted the need to address debt sustainability while making public spending work for the climate. Nevertheless, a strategic framework for adaptation finance is still missing, and so are tailored adaptation finance instruments.

This event is co-organized by the EDHEC-Risk Climate Impact Institute, CASCADES and the Chatham House and is co-funded by the EU's Horizon 2020.

• To register (freely) to this event and, in particular, to the session chaired by I. Monasterolo (see below) : https://chathamhouse.cplus.live/auth/sign-up/cop27-cascading-climate-risks-virtual-pavilion

COP27 Cascading Climate Risks Virtual Pavilion

The full programme of this virtual conference is the following:

Day 1 - Nov. 9, 2022

10am - 11am (CET): Adaptation Without Borders: strengthening cooperation to manage cross-border climate risks

11:30am - 12:45pm (CET): The water-energy-food nexus in the Sahel, North Africa and the Middle East

3pm - 4.30pm (CET): Scaling up climate adaptation finance in times of growing public debt, inflation and natural disasters

Day 2 - Nov. 10, 2022

11.30am - 12.30pm (CET): Policy responses to cross-border impacts of climate change in the Arctic

1pm - 2.30pm (CET): The transmission of climate impacts through international trade: implications for the EU

3pm - 4.30pm (CET): Youth ideas for Europe-MENA cooperation on climate resilience

Focus on the session "Scaling up climate adaptation finance [...]" chaired by I. Monasterolo (EDHEC)

In this session, the expert panel will discuss the following:

• What are the challenges for scaling up private and public investments in adaptation (models, policies, instruments)?
• Under which conditions new financial instruments such as sovereign impact bonds could deliver on adaptation?
• How are main financial institutions such as the IMF and World Bank assessing climate risks for sovereigns and responding to them? Are they deploying the right approaches and tools?
• To what extent are private investors considering climate physical risks and adaptation in their portfolios and risk management?

Speakers

Chair: Irene Monasterolo, Professor of Climate Finance, EDHEC Business School and EDHEC-Risk Climate Impact Institute

Marie Briere, Head of Investor Intelligence & Academic Partnerships, Amundi Institute; Senior Affiliate Researcher, Université Libre de Bruxelles

Kevin Gallagher, Director, Boston University Global Development Policy Center

Charlotte Gardes-Landolfini, Climate change and financial stability expert, IMF

Nicola Ranger, Oxford University

Fiona Stewart, The World Bank

Partners

CASCADES funded by the European Union's Horizon 2020 research and innovation programme under grant agreement No. 821010, EDHEC-Risk Climate Impact Institute, Waddesdon Club, Chatham House

How to register?

Registration is complimentary to all members of the public here:

https://chathamhouse.cplus.live/auth/sign-up/cop27-cascading-climate-risks-virtual-pavilion

By registering, you are able to access any event taking place on the platform on the 9th - 10th November.

Taking place over two days during the COP27 climate conference, the pavilion convenes researchers and stakeholders from CASCADES, an interdisciplinary research project devoted to the analysis of the cross-border impacts of climate change. Supported by the European Union's Horizon 2020 research and innovation programme, CASCADES applies state-of-the-art quantitative and qualitative research and stakeholder engagement approaches to identify critical areas of concern for European societies and EU policy and explore different solutions.

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