Presentation given by Alec Crawford, Director, Nature for Resilience, IISD, as part of Adaptation Futures 2023.

1. Private sector engagement
in climate adaptation and
priorities for COP28
Adaptation Futures 2023
Montreal, QC
Alec Crawford
October 2023

2. The private sector is a key engine of
economic growth in developing
countries:
• 60% of GDP
• 80% of capital flows
• 90% of jobs
Why should the private
sector be engaged in
adaptation planning and
action?

3. Micro, small and medium-sized
enterprises (MSMEs) are crucially
important:
• 50% of GDP
• 60% of jobs
• 90% of all businesses
Why should the private
sector be engaged in
adaptation planning and
action?

4. Will be needed to:
• Create the jobs needed to support
adaptation
• Develop the goods and services
needed for societies to become more
climate-resilient
• Finance – directly or indirectly – many
adaptation actions
Why should the private
sector be engaged in
adaptation planning and
action?

5. 1. Manage risks for business continuity.
2. Capitalize on new markets and business
opportunities.
3. Strengthen reputation and brand value.
4. Comply with policies, regulations and
investors’ interests.
The business case
for adaptation

6. • Often found in climate-dependent sectors:
agriculture, fisheries, tourism.
• Mainly operating in the informal sector.
• Insufficient access to and understanding of
climate change and adaptation options.
• Lack of appropriate financing.
• Unsuitable legal and policy frameworks.
• Immediate business needs vs. future risks:
prioritization of investments.
Key barriers and
challenges for PS in
developing states

7.  Scaling up innovative sources of financing and
resource mobilisation
 Supporting and enabling the private sector’s
technology-led growth to be aligned with the PA.
 Realigning private sector finance flows away from
maladaptation and towards system
transformation and climate-resilient development.
 Creating the enabling environment to support
private sector engagement on adaptation finance.
Private sector priorities for
COP28

8. Enabling factors for private
sector engagement in
adaptation planning and
action

12. Thank you!
Email: info@napglobalnetwork.org
Website: napglobalnetwork.org