Standard Chartered and a group of private and public sector organisations have published guidelines to clarify what constitute adaptation finance and plug the financing gap for developing countries impacted by natural and climate-related disasters, which is set to grow to up to $565bn by 2050. The bank has called for greater private sector development of adaptation and resilience loans and bonds.
The majority of adaptation finance comes from the public sector. But in an effort to mobilise more private capital and rapidly scale adaptation finance, Standard Chartered, KPMG and the UN Office for Disaster Risk Reduction — with support from more than 20 other organisations including ING, First Abu Dhabi Bank and the African Development Bank — have published a Guide for Adaptation and Resilience Finance.
