The recent report by Working Group 2 of the Intergovernmental Panel on Climate Change (IPCC) provided a comprehensive review of the current conditions and flows of finance for adaptation. This report is essential for helping to understand how climate finance works for resilience. Furthermore, it is set in the context of the international negotiations on climate finance and the agreed target of $100billion per year that has been proposed to meet the needs of developing countries.
Key questions arise:
- Is the $100billion figure satisfactory and will it provide the measures required?
- Where will the $100billion come from? What is the role of private finance in helping to meet targets?
The report attempts to address these key questions but is hampered by a fundamental unanswered question: What are the actual costs of adaptation and resilience across the globe? There is still a great deal of research and work to be undertaken to provide the finance required to limit the worst impacts of climate change.
In this webinar, Prof David Viner discussed the findings from the Working Group 2 report and explored the important issue of climate finance.