Climate Adaptation Finance: Urban Perspectives in Salon 10
11:00 - 12:30
This panel provides a contemporary survey of the spectrum of financial products and delivery models that are shaping the emerging climate adaptation finance discourse. Collectively, the presentations represent two distinct challenges. One challenge is defined by the mainstreaming of adaptation considerations into known units of risk-adjusted financial products. Whether it is through strategic leverage or the modification of underwriting criteria, mature financial service delivery models themselves are challenged to advance institutional adaptation that accounts for not only the uncertainty of climate change but also the opportunities. The second challenge and corresponding sub-theme reflects the desire to co-align financial and social capital at local scales that are arguably more appropriate for addressing local vulnerability and local determination as to the forms and timing of future adaptations. Through an exploration of empirical knowledge of ongoing adaptation in agriculture, energy and financial services, this sub-theme offers insight into not only alternative delivery models but a range of alternative criteria for underwriting the “upside” or “returns” of financial investments. Both sub-themes are united in advancing practices that identify trade-offs and substitutes that reflect an accounting of co-benefits or conflicts that may arise from such investments. This panel provides a critical evaluation of the challenges facing urban adaptation finance.