As the impacts of climate change become ever-clearer, so does the challenge of adaptation. While the World Bank estimates that developing countries will need $70-$100 billion annually through 2050 to adapt to climate change, the public sector alone cannot meet this financial goal. Rather, the world needs the human, technical, and financial resources of the private sector to help bridge this significant adaptation finance gap and make vulnerable communities more climate-resilient.
National governments have a critical role to play in supporting and stimulating private sector investment in adaptation. In order to engage the private sector in helping vulnerable populations prepare for the effects of climate change, developing country governments can take three types of actions: