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Investing in Adaptation: Mobilising Private Finance for Adaptation in Developing States

Kate Miles


This contribution looks at public and private financing of climate change adaptation from an equity perspective. Having set out the key concepts and provided an overview of the current international legal framework for adaptation, it considers ways in which the current funding shortfall for adaptation could be filled, including through reform of the CDM. Bearing in mind the currently unrealized potential of this instrument to support equitable adaptation activities in developing countries, the paper explores the idea that “bonus CERs” could be awarded to projects supporting adaptation. Ultimately, both in relation to the CDM and more generally, the paper concludes that mobilizing private sector finance for adaptation will require “nuanced, hybrid approaches utilizing both incremental regulatory shifts and market mechanisms.”


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