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Private Sector & Development magazine: latest issue dedicated to climate change adaptation
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To mark COP27, which will be held in Egypt from 6 to 18 November, Proparco has released the 38th issue of its Private Sector & Development magazine dedicated to climate change adaptation. Through analyses from experts in the sector (think tanks, donors, entrepreneurs, etc.), this latest issue presents the drivers for action of Development Finance Institutions and the private sector faced with the challenges of the climate crisis.
Floods, fires, droughts, heatwaves… Recent months have been marked by a number of extreme events, which are increasing in frequency due to the climate change now underway. While average global warming still only stands at 1.1° C, the consequences of this increase are already very real. COP27, which will be held in Egypt from 6 to 18 November 2022, is expected to reaffirm the urgent need to finance adaptation and the importance of this component in the fight against climate change. This is also strategic priority for Proparco, which encourages its partners to take greater account of climate risks.
How the private sector is scaling up
Adaptation to climate change only accounts for 7% of total “climate finance”. Regarded as unprofitable, it still mainly comes under public financing. Yet there are huge needs. In developing countries, which are particularly vulnerable to climate change, it is becoming essential for a company to assess the climate risks it is exposed to and consider measures to adapt to them.
This 38th issue of the Private Sector & Development magazine presents the main challenges of climate change adaptation and the initiatives implemented by the private sector through interviews, analytical articles and a spotlight on projects supported by Proparco.
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Video: “Climate change adaptation is an opportunity for the private sector”
Madeleine Portmann, Senior Investment Officer (Proparco), and Alexandre Leyvastre, Impact Officer (Proparco), explain what climate change adaptation means and introduce solutions developed by the private sector and highlighted in the magazine.
Private Sector & Development (PS&D) is a magazine that analyzes the mechanisms through which the private sector can contribute to the development of countries in the South. In each issue, PS&D compares the ideas of authors with diverse backgrounds from the private sector, the research community, development institutions and civil society. A blog has been launched in continuation of the magazine to offer a space for broader reflection and debate on the private sector and development.