ACW 2022 Side Event: Accelerating Financial Flows for Nature-Based Solutions for Adaptation

29 August 2022

Organisation :

World Resources Institute (WRI), United Nations Economic Commission for Africa (UNECA), FSD Africa

Location :

Libreville, Gabon (L'eau – Tent, Radisson Blu Okoume Palace Hotel)

On 29 August 2022 (12:00-13:00 Gabon time), WRI Africa alongside UNECA and FSD Africa are hosting a side event at the Africa Climate Week 2022, taking place in-person and virtually at Gabon. The side event will be titled, 'Accelerating Financial Flows for Nature-Based Solutions for Adaptation'.

Although investments for the Nature-Based Solutions (NBS) for adaptation have been gaining traction at a global level, more work is needed to inspire and scale up NBS adoption in Sub-Saharan Africa (SSA). In addition to being one of the most vulnerable regions to climate change, Sub-Saharan Africa’s infrastructure deficit is estimated to reach $350 billion by 2040. The need to invest in climate adaptation in the Region is projected to grow to $35-50 billion per year by 2050.

Despite initial progress on increasing finance for NBS in Sub-Saharan Africa, adaptation finance is still scaling too slowly to narrow the gap while the costs of climate impact rise. This event will examine the current trends, including both success and challenges in financing NBS for adaptation on the continent. It will highlight investments and alliances that are overcoming the challenges of investing in NBS for adaptation - such as the Natural Capital Alliance (TNCA) and the new Africa Climate Water Adaptation (ACWA) Fund - and what more needs to be done to leverage its potential. This event will bring together perspectives from actors critical to scaling up these investments.

Speakers:

Moderator: Nisha Krishnan
Scene Setter: Rory Hunter (NbS Finance Associate, WRI Africa)
Panel:
- AfDB (TBC) – Climate Change or Natural Resources Representative
- Emeryc Kpenou, Partner, SouthBridge Investments
- Kelvin Massingham, Director of Risk & Resilience, FSD Africa
- Roland Hunter, Senior Sourcing Manager, South Pole

Event code for registration: ACW-SE174

You can also join the live session virtually by clicking here.

12:00 - 12:05 (Gabon time)	Introductions Nisha Krishnan (Moderator) to introduce overall topic, speakers
12:05 - 12:15	Scene Setter Rory Hunter: Present the initial trends from the analysis on where NbS projects are being implemented, what type of challenges they are being used to address, and the scale of NbS investment in Sub-Saharan Africa. Highlight the urgent barriers and opportunities for advancing and scaling up NBS investment
12:15 - 12:45	Discussing the Way Forward: How to finance for NbS adaptation and resilience building at pace and scale (Moderated by Nisha Krishnan) Discussion Questions: AfDB: From a Multilateral Development Bank (MDB) perspective, how are you scaling investments in NbS for climate adaptation? What are the successes and challenges in mainstreaming NbS into investment portfolios? FSD Africa: How could the African Financial Alliance for Natural Capital accelerate the valuation/appreciation for NBS for adaptation investments? SouthBridge Investments: You, alongside other partners, are establishing the African Cities Water Adaptation Fund: What is unique about the Fund and what lessons might it hold for others trying to accelerate investment in NbS for adaptation? South Pole: SP has been identifying NBS opportunities and bringing them to market – what are some of the lessons you’ve learned?
12:45 - 13:00	Q&A from audience One minute takeaways from panellists Closing