Status Quo and Prospect of the Global Climate Adaptation Finance

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Journal of Central University of Finance & Economics ›› 2018, Vol. 0 ›› Issue (8) : 25-36.

XU Yin-shuo, LIU Qian

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Abstract

The fundamental challenges of addressing climate change have been involving clarifying the sources and attributes of climate adaptation finance, as well as the design and operation of adaptation finance mechanism under the United Nations Framework Convention on Climate Change (UNFCCC). Climate adaptation finance has faced with challenges including the enlarging adaptation finance gap, the lack of synergetic effect among multilateral climate funds, the multiple risks for private adaptation investment, and the multi-dimension difficulties in the Measurement, Reporting and Verification (MRV). Under such circumstances, how to exploit the current adaptation finance in a more innovative, equitable and effective way, and catalyze more investment into adaptation becomes one of the top priorities. To this end, this paper suggests that public finance from multiple sources be integrated in a way that functions better to stimulate more adaptation investment. The operation and coordination among the multilateral climate funds should also be optimised. Despite of the existing innovation of adaptation finance instruments, there is much room to be enhanced. This paper further emphasizes that the data basis of adaptation finance requires consistency for evaluating the performance of adaptation finance and facilitating adaptation investment. As for China, China will insist its position as a developing country and support developing countries, especially the most vulnerable ones in adaptation under climate change South-South Cooperation and the Belt and Road Initiative, as well as explore pilot adaptation finance solutions.

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Adaptation to climate change / Climate adaptation finance / Climate resilience / Adaptation finance governance / Sustainable development

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XU Yin-shuo, LIU Qian. Status Quo and Prospect of the Global Climate Adaptation Finance[J]. Journal of Central University of Finance & Economics, 2018, 0(8): 25-36

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