Innovative Financing Mechanisms to Leverage Ecosystem Based Adaptation (EbA) Finance for Vulnerable Communities
Climate change accelerates economic loss and results in negative GDP growth. Vulnerable geographies and communities are the most affected by climate change, but they lack the capacity (financial and technical) to withstand and adapt to its effects. In addition to this, the mismanagement of environme...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Nicolae Titulescu University
2023-06-01
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| Series: | Global Economic Observer |
| Subjects: | |
| Online Access: | http://www.globeco.ro/wp-content/uploads/vol/split/vol_11_no_1/geo_2023_vol11_no1_art_013.pdf |
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| Summary: | Climate change accelerates economic loss and results in negative GDP growth. Vulnerable geographies and communities are the most affected by climate change, but they lack the capacity (financial and technical) to withstand and adapt to its effects. In addition to this, the mismanagement of environmental resources for economic development has reduced the natural capacity of the ecosystem to adapt to climate change. In this regard ecosystem-based adaptation (EbA) measures can play a crucial role in building resilience to climate change in vulnerable communities. However, despite its importance, there is a significant shortfall of capital flows to adaptation, and specifically to EbA initiatives. There is a critical need to develop financing strategies which address challenges of traditional means of financing. This paper explores various innovative financing mechanisms and models to leverage adaptation finance and implement EbA measures for vulnerable communities through global case studies. In addition, the study seeks to provide pathways for adaptation finance that can be tailored to the priorities of local communities. |
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| ISSN: | 2343-9742 2343-9750 |