Zero: The Climate Race 'Hey, nice sea wall': Finding trillions for adaptation
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Dec 11, 2023 Guest Patrick Verkooijen, Head of the Global Center on Adaptation, discusses the history of climate adaptation finance and negotiations at COP28 on adapting to climate change. The podcast explores the growing financial gap in climate adaptation, local solutions, innovative mechanisms, financing through Special Drawing Rights, funding climate finance via levies and taxes, and unexplored challenges in adaptation, including the psychological impact of climate change.
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Adaptation: An Undervalued Investment
- Climate adaptation is crucial due to existing warming and future climate impacts.
- It's often neglected because it's viewed as a cost, not an investment, despite potential economic benefits.
Bangladesh Cyclone Impact Reduction
- In 1970, a cyclone in Bangladesh killed 500,000 people.
- In 2019, a similar cyclone killed only 20, thanks to adaptation measures like mangrove restoration and cyclone shelters.
The Need for a Global Adaptation Goal
- Clear targets, like net-zero emissions, help maintain focus on mitigation efforts.
- Adaptation needs a similarly clarifying goal to align efforts and address various climate impacts.