NDF - Financing for climate change and development projects

Focus on Climate Risk and Investment: Framing Private Sector Challenges and Opportunities

Photo: NDF

Proadapt program in focus at international conference on climate risk and investment.

Leaders and practitioners within climate finance joined for a discussion of common challenges and emerging investment opportunities in climate resilience in the Climate Risk and Investment: Framing Private Challenges and Opportunities conference at the Inter-American Development Bank in Washington, DC, last week. Topics included examples of resilience investments in selected sectors, evolving investment instruments, models and metrics, developments in climate resilience data, analytics and entrepreneurship, among other issues.

NDF Vice President and Deputy Managing Director Leena Klossner participated in the seminar panel discussions focusing on an emerging framing of private sector climate resilience and introduction of models being financed and developed by Proadapt. These initiatives include an ongoing NDF-supported study in Colombia, South Africa and the Philippines - the Private Markets for Climate Resilience (PMCR) project - to assess the market for climate resilience solutions, and the development of a business model for climate-resilient agriculture under extreme conditions in Brazil. Ms Klossner mentioned that the regional three-country study sits early in the market-innovation cycle at the stage of identifying the nature of the market and business models for different types of investments, and its methodology is designed to inform decision-making. Through this focus, the overall Proadapt program, and the market study in particular, are highly complementary to other NDF initiatives elsewhere in the world.

Proadapt program finances private sector climate resilience in Latin America and the Caribbean and promotes related business and investment opportunities. It was launched in 2013 by the Multilateral Investment Fund of the IDB (MIF) in partnership with the Nordic Development Fund (NDF), with a financing of EUR 3,500,000 from NDF and USD 5,000,000 from the MIF.  Proadapt works in the region to support climate resilience in smaller firms, in anchor firms and their supply chains, and to foster business and investment opportunities in private sector resilience solutions, i.e. products and services that reduce buyers’ vulnerability to climate risks. In addition, Proadapt supports the development and dissemination of practical tools that highlight opportunities for business and investment in climate resilience.

More information

PROADAPT Building Climate Resilience in MSMEs in Latin America and the Caribbean [NDF C51]