The trillions of dollars required for financing climate adaptation and climate resilient infrastructure is more than what governments can afford - private capital has to be leveraged. According to data from the IEA and OECD, an estimated USD 89 trillion of infrastructure investment will be required through 2030 for investment in cities and energy alone. Actions to combat climate change and deal with climate impacts will demand further capital.
The bias inherent in climate finance towards mitigation needs to change. Financing adaptation should also be viewed as an opportunity in terms of induced innovation, with private capital playing a pivotal role. New, efficient and flexible finance structures will have to respond to the new economy of climate change as industries and countries transition to low carbon pathways for growth.
Last but not least, questions around employment will have to be resolved as climate change impacts threaten traditional occupations, create new ones and bring into play enhanced probabilities of urban migration. The goal of the symposium would be to address these three questions, around insurance, infrastructure and employment, both from demand as well as from the supply-side, as well as to assess both the economic challenges and opportunities associated with climate change.
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