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Speaker 1: Welcome to zero.

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Speaker 2: I am Akshatrati today funding flooding and floating. Three years

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Speaker 2: after the Paris Agreement was signed, then United Nations chief

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Speaker 2: Banky Moon saw there was progress on commitments to cut emissions,

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Speaker 2: but almost none on adapting to climate impacts. Today, close

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Speaker 2: to four billion people live in environments that are highly

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Speaker 2: vulnerable to climate change, and so Banky Moon, alongside other

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Speaker 2: world leaders, created the Global Commission on Adaptation to promote

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Speaker 2: solutions and figure out how much it might cost. The

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Speaker 2: answer is around two trillion dollars by twenty thirty. It's

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Speaker 2: hard to move that kind of money without a big plan.

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Speaker 2: So after they had figure Banky Moon and his colleagues

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Speaker 2: created another initiative, the Global Center for Adaptation, to act

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Speaker 2: as a solutions broker and to figure out how to

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Speaker 2: finance adaptation projects. Now I've said the word adaptation a lot,

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Speaker 2: but what does it mean?

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Speaker 1: If you talk about climate adaptation, people really get very tired,

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Speaker 1: very quickly because it's very abstract. But it's also it's

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Speaker 1: about people. It's about a small hall of farmer using

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Speaker 1: drought tolowant crops. It is about a mother in let's

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Speaker 1: say Bangnades taking a family to a cyclone shelter. It's

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Speaker 1: very concrete, tough.

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Speaker 2: This is Patrick Ferqueen, the head of the Global Center

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Speaker 2: for Adaptation and my guest today. While climate adaptation might

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Speaker 2: seem vague, it is easy to visualize flood defenses, cooling shelters,

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Speaker 2: heat resilient crops. The problem is the financial system we

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Speaker 2: have today is not funding it all. That might start

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Speaker 2: to change, especially if negotiators at COP twenty eight agree

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Speaker 2: on a global goal for adaptation. The hope is it

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Speaker 2: would specify the kinds of investments needed to be prioritized,

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Speaker 2: giving a strong signal to the financial industry to finally

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Speaker 2: start to fund them. I spoke with Patrick at COUP

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Speaker 2: twenty eight about how he is trying to close that

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Speaker 2: funding gap, how that money is being used, and the

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Speaker 2: future of climate migration. Patrick, welcome to the show, Thank

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Speaker 2: you so much. When it comes to climate change, there

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Speaker 2: are many many issues to try and tackle. The biggest

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Speaker 2: and the one that most people talk about is reducing

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Speaker 2: emissions because that will allow warming to stop eventually and

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Speaker 2: maybe if he pulls he or two back from the air,

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Speaker 2: even reverse it. But in the intervening period we're already

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Speaker 2: at one point three degrees celsius of warming, and there's

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Speaker 2: a bunch of warming that we've kind of baked in,

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Speaker 2: which means climate impacts are already worse and they will

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Speaker 2: continue to get worse. So a second pillar of trying

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Speaker 2: to tackle climate change is to actually adapt to the

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Speaker 2: warming that we've already put into the atmosphere. But we

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Speaker 2: don't talk about adaptation as much on a global stage

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Speaker 2: as we need to.

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Speaker 1: Why is that that's exactly right because adaptation was positioned

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Speaker 1: in the Pairs Agreement in twenty fifteen as the second

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Speaker 1: pillar as part of the climate agreement. We have to

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Speaker 1: adapt already today, and we are adapting already today, but

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Speaker 1: unfortunately that adaptation in action is not at a scale

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Speaker 1: which is required, is also at the speak which is required.

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Speaker 1: That is why five years ago Bunky Moon, Bill Gates,

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Speaker 1: and Crystallina Yogeva, the head of the IMF, they came together.

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Speaker 1: They said, well, we have to elevate the political heat

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Speaker 1: on their climate adaptation and they launched a so called

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Speaker 1: Global Commission on Adaptation. They said, well, if the world

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Speaker 1: were to invest in five key areas early warning systems, climate,

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Speaker 1: small agriculture, resilient infrastructure, mangrove restoration, sustainable water management. If

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Speaker 1: the world were to invest in these five critical areas

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Speaker 1: and would mobilize one point seven trillion dollars between twenty

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Speaker 1: eighteen and twenty thirty, the net economic benefits would be

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Speaker 1: in the order of seven trillion dollars. So what these

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Speaker 1: leaders try to do is basically change the narrative. Because

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Speaker 1: you asked why is adaptation not front and center? Because

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Speaker 1: it's seen as a sonk cost and not as an investment,

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Speaker 1: and that's wrong. By not investing in adaptation, we are

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Speaker 1: missing economic opportunities at scale.

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Speaker 2: How are we doing with the one point seven trillion

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Speaker 2: dollar climate adaptation goal by twenty thirty.

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Speaker 1: We are moving forward, but not fast enough another at

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Speaker 1: the scale required. Basically, what we see compared to twenty

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Speaker 1: eighteen is that the adaptation finance gap is growing. So

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Speaker 1: if I would give it a scorecard, I would say

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Speaker 1: is a failing scorecut. That is the backdrop of this

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Speaker 1: Dubai Climate Summit, and it has to be addressed, and

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Speaker 1: it has to be addressed.

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Speaker 2: Now, can you talk through specific examples of where projects

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Speaker 2: in places that require adaptation are being deployed and what

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Speaker 2: they look like.

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Speaker 1: Yeah, So, take early warning systems. We know the facts

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Speaker 1: is that half of the developing world does not have

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Speaker 1: proper functioning early warning systems. We also know if you're

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Speaker 1: living in the global South, the risk of your dying

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Speaker 1: of a climate disaster is fifteen times higher than in

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Speaker 1: the global North. So one of the solutions to that

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Speaker 1: sort of imbalance is to have early warning systems. Which

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Speaker 1: country has been pioneering this, well, actually that's Banglades Take

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Speaker 1: nineteen seventy. In nineteen seventy, most of your listeners may

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Speaker 1: notice a massive cyclone hits Banglades in India. Five hundred

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Speaker 1: thousand people alone diet in Bangladesh because of this incoming cyclone.

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Speaker 1: What did they do since then, they had mangrove restoration,

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Speaker 1: they had earlier warning systems, they built cyclone shelters. So

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Speaker 1: fast forward twenty nineteen, a similar type of cyclone came

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Speaker 1: into Bangladesh. How many people died in the order of

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Speaker 1: twenty So if a country like Bangladesh can move forward

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Speaker 1: on adaptation, certainly the rest of the world can. I

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Speaker 1: was recently myself in Bangladesh where I met with Prime

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Speaker 1: Minister Shai Casina as he said, well, we're investing out

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Speaker 1: of our own taxpayers money two billion dollars of financing

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Speaker 1: into climate adaptation, but our investment needs on adaptation is

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Speaker 1: not two billion dollars which we pay ourselves, it's eight

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Speaker 1: billion dollars per year. So there is this massive gap

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Speaker 1: of financing to flow into adaptation. And one of the

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Speaker 1: reasons why the international community is basically coming here to

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Speaker 1: Dubai is to find a way around who will pay

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Speaker 1: for what.

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Speaker 2: One thing that helps keep the pressure on reducing emissions

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Speaker 2: very clear and persistent is because we have clear targets.

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Speaker 2: Right the one point five goal has been translated into

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Speaker 2: reaching net zero CO two emissions by twenty to fifty globally.

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Speaker 2: That means every entity can contribute towards reducing those emissions.

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Speaker 2: There is a way to align all the people's work

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Speaker 2: towards one target now adaptation. As we've just talked through,

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Speaker 2: there are many many different things that need to be

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Speaker 2: done because there's going to be more rain or less rain,

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Speaker 2: there's going to be rising sea levels, or there's going

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Speaker 2: to be too much heat, or there's going to be

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Speaker 2: melting of permafrosts like that, all kinds of climate impacts

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Speaker 2: that happen, all of which we need to try and

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Speaker 2: figure out how to adapt to So is there a

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Speaker 2: way in which you could come up with a goal

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Speaker 2: for adaptation that would be clarifying, that would allow all

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Speaker 2: these minds to align, just like net zero has done

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Speaker 2: for mitigation.

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Speaker 1: And that's precisely the homework global leaders are wrestling with

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Speaker 1: here in Dubai during the Climate summit, because what is

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Speaker 1: expected from them is that they agree on a global

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Speaker 1: goal on adaptation. So and what will these global goal

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Speaker 1: on adaptations say? Will it be something simple as it

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Speaker 1: is on mitigation, i e. A ton of CO two reduced. No,

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Speaker 1: it's not because adaptation is inherently local and it's multifaceted.

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Speaker 1: So different proposals are on the table. One sort of

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Speaker 1: overarging approach is it's not one goal, it's a framework, right,

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Speaker 1: and negotiators from the Global SEUTH came forward with a

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Speaker 1: very concrete proposal. I said, Wow, should we not agree

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Speaker 1: that X billion people in the world would become climate resilient?

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Speaker 1: But that's at the global level. Others would say, well,

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Speaker 1: actually that's too abstract. Should we not break it down

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Speaker 1: sector as sector? We just spoke about the early warning example.

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Speaker 1: Should we not have a goal that say, by twenty

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Speaker 1: twenty seven, all countries in the world should have a

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Speaker 1: functioning early warning system. It's concrete, it's measurable, and it

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Speaker 1: is very sort of impact oriented. Others would say, well, actually,

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Speaker 1: should we also not have a goal of specific target

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Speaker 1: on finance? Two years ago in Glasgow, the world agree

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Speaker 1: to double adaptation finance from the base level twenty billion

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Speaker 1: dollars to forty billion dollars by twenty twenty five. But

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Speaker 1: we know, of course that that number forty billion is

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Speaker 1: quite frankly a tokenistic number because the needs, the investment

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Speaker 1: needs on adaptation in the global South alone is close

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Speaker 1: to four hundred billion dollars a year. So there is

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Speaker 1: all things to play for during this summit. This global

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Speaker 1: goal on adaptation will help us to make the world accountable.

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Speaker 2: Just in your own understanding of where things stand right now,

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Speaker 2: where do you think we will end up with the

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Speaker 2: global goal on adaptation? So global goals on adaptations.

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Speaker 3: So I would say there will be a global framework

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Speaker 3: on adaptation, So I'm optimistic about that there will be

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Speaker 3: a common understanding of where the world needs to head towards,

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Speaker 3: so that let's say, the annual reporting can and also

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Speaker 3: be sort of accountable against a particular agreed framework.

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Speaker 1: But I would think even more important than a framework,

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Speaker 1: or in addition to the framework, the world and particularly

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Speaker 1: countries need concrete plans. They need to see these are

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Speaker 1: my priority investments. This is what the fundancing which I

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Speaker 1: will put on the table. This is what I need

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Speaker 1: from the private sector, this is what I need from

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Speaker 1: the International finance Institution. It is very important that we

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Speaker 1: move forward with concrete initiatives where financing is flowing. Why

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Speaker 1: because at the end of the day, that's the only

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Speaker 1: growth story of the twenty first century, particularly for Africa.

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Speaker 2: One reason why adaptation does not get talked about as

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Speaker 2: much as well is because the warmer the planet gets,

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Speaker 2: the need for adaptation changes. So what you're doing right

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Speaker 2: now for certain things at one point two one point

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Speaker 2: four degree celsius may be not good enough when you're

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Speaker 2: at one point five or one point seven degrees celsius.

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Speaker 2: So what do you do to deal with that problem

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Speaker 2: where you've invested a bunch of money in an adaptation

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Speaker 2: solution that seems to be working for now and for

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Speaker 2: the near future, but then we go past a warming threshold.

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Speaker 1: Yeah, So I think that's a very very important example, indeed,

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Speaker 1: because lots of infrastructure in the world still is yet

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Speaker 1: to be built, so I think it's important to take

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Speaker 1: into consideration which climate reality are we actually building against.

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Speaker 1: So that's why we as an organization, we're working with

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Speaker 1: the African Development Bank, with the Weld Bank, Asian Development Bank,

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Speaker 1: with the IMF when they sort of operationalize infrastructure investments

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Speaker 1: to make sure that climate risks are mainstreamed into their design.

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Speaker 1: Different models are taken into a place. How high should

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Speaker 1: this highway be in a one point two degree world,

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Speaker 1: What will be the sort of the extra high you

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Speaker 1: need to build in a one point five degree world?

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Speaker 1: What are the sort of the nature based solutions which

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Speaker 1: you can put into place to address these additional climate risks.

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Speaker 1: That's quite complex modeling obviously, which needs to take into

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Speaker 1: a place. But the fact is many developments today are

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Speaker 1: not taking into account these sort of these variations of

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Speaker 1: climate risk. And that's exactly why climate adaptation is essentially

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Speaker 1: about doing development differently by mainstreaming climate risk. And that's

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Speaker 1: a very mundane and easy way to say, but in reality,

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Speaker 1: lots of development finance is not taking this into account.

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Speaker 1: That's a missed opportunity.

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Speaker 2: So in a way, there's just a lot of low

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Speaker 2: hanging fruit giving people don't even think about adaptation that

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Speaker 2: could be used and enable more climate resilient infrastructure being

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Speaker 2: built right now.

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Speaker 1: And if I may want to add this, the World

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Speaker 1: Bank recently came out of with report it so actually,

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Speaker 1: if we build an infrastructure traditional infrastructure, it cost x,

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Speaker 1: but if we were to build in resilient infrastructure right

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Speaker 1: to use in terms of defending against these climate risk

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Speaker 1: additional costs indeed three percent with three percent more expensive.

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Speaker 1: But what is the economic return on that extra dollar

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Speaker 1: pound or euro invested? Is a racial one to four.

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Speaker 1: It's smart economics. So what I find quite intriguing is

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Speaker 1: that it's also about narrative. Right, if you talk about

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Speaker 1: climate adaptation, people really get very tired very quickly because

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Speaker 1: it's very abstract. But it's about people. It's about a

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Speaker 1: small hall of farmer using drought tolerant crops. It is

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Speaker 1: about a mother in let's say Banglades taking a family

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Speaker 1: to a cyclone shelter. It's very concrete touff and I

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Speaker 1: think that people's centered focus gets lost also, a point

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Speaker 1: which I think is important. What you see now particularly

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Speaker 1: in Europe. Is this sort of the swing to the

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Speaker 1: right right. I mean, you see the election results in

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Speaker 1: the Netherlands, resort before in Sweden, and you see it

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Speaker 1: in Italy. What will it do to the climate debate

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Speaker 1: written large in particularly what would it do to the

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Speaker 1: poor cousin of the climate debate climate adaptation? Would it

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Speaker 1: be expected that a country like the Netherlands, which is

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Speaker 1: built on climate adaptation, suddenly drop its investments, say in Africa,

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Speaker 1: say in South Asia, say in the Caribbean. That will

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Speaker 1: be very unwise because the issues and the challenges in

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Speaker 1: Africa on climate change will not stay. If you want

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Speaker 1: to address migration in Europe, you can invest a lot

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Speaker 1: of walls around Europe, but it's also a very important

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Speaker 1: investment to address in the drivers of this migration. Obviously

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Speaker 1: not everything is climate induced, but it is one of

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Speaker 1: the factors. So that's my calls to the right wing

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Speaker 1: movements which are basically mushrooming in large parts of the world, and.

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Speaker 2: So a lot of those solutions that need to be

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Speaker 2: deployed in the global cuth to be able to deal

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Speaker 2: with those problems require money, and let's talk about money.

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Speaker 2: According to your latest climate Finance report, only five percent

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Speaker 2: of global climate finance was invested in adaptation in twenty

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Speaker 2: one to twenty two. That's about sixty three billion dollars.

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Speaker 2: Your latest report says the funding gap is between one

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Speaker 2: hundred and thirty and four hundred billion dollars by twenty

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Speaker 2: thirty per year per year.

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Speaker 1: What do you see.

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Speaker 2: As the best way to try and increase the money

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Speaker 2: that goes towards adaptation.

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Speaker 1: Yeah, So, taking into account the reality in Ukraine, development

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Speaker 1: finance going down, the cost of living crisis in the

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Speaker 1: West going up. In the rest of the world as well,

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Speaker 1: given the exchange rate depreciation, particularly in the global South,

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Speaker 1: given a depth crisis, sixty percent of developing nations are

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Speaker 1: in depth distress. Against that backround, it's not realistic to

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Speaker 1: assume that international public finance will be the solf of bullets.

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Speaker 1: So where is that money needs to come from? While

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Speaker 1: there was a host of sort of sources, first and foremost,

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Speaker 1: I would think it's also the public expenditure in the

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Speaker 1: home country itself. I just gave the example of bundandess

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Speaker 1: it's investing two billion dollars of their own tech spased money.

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Speaker 1: We need to make sure that that two billion dollars

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Speaker 1: is spent wisely on the top priorities in that particular country. Secondly,

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Speaker 1: what is also vital is where is the private sector

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Speaker 1: in all of this? But they're largely absent in the

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Speaker 1: adaptation space because the return on investment is not always straightforwards.

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Speaker 1: If you build a dyke, it has clear sort of

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Speaker 1: livelihood benefits, but the financial returns is not always there.

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Speaker 1: On the other hand, there are opportunities in the adaptation space.

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Speaker 1: Writt and Launch say I'm a seat company, and if

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Speaker 1: I were to bring to the market drought tolerant seats,

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Speaker 1: there is a market to be gained there. Let's go

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Speaker 1: back to Africa, because it is the most vulnerable continent.

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Speaker 1: How much finance is flowing from the global north to

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Speaker 1: Africa to date, it's eleven billion dollars a year. How

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Speaker 1: much is needed on an annual basis if you just

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Speaker 1: look at the national determined contribution, the national adaptationment, if

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Speaker 1: you just add everything up, how much is that fifty

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Speaker 1: one billion dollars? So already for Africa alone, it's a

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Speaker 1: forty billion dollar gap per year. And we will think, well,

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Speaker 1: actually that is a lot, and it is a lot,

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Speaker 1: But think about the economic benefits which we don't capture

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Speaker 1: by investing in this. Think about the migration impacts which

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Speaker 1: will result from this if we don't invest in this,

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Speaker 1: So that cost of action visa vis the cost of inaction.

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Speaker 1: I think that is why it's so important that we

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Speaker 1: don't leave the climate adaptation debate and agenda to environment

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Speaker 1: ministers alone. They're good people, nothing wrong with them, but

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Speaker 1: the finance community needs to come around this agenda.

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Speaker 2: After the break we hear more about local solutions and

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Speaker 2: the people's adaptation plan. So one way in which we've

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Speaker 2: been trying to understand climate finance is if you just

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Speaker 2: split it into three types of money. One where if

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Speaker 2: you invest, you can make profits, and so it is

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Speaker 2: where the private sector should be taking the lead, should

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Speaker 2: be jumping up and down to try and make that money.

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Speaker 2: But then there's the middle bucket, which is where it's

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Speaker 2: not yet clear whether you can make a profit from it.

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Speaker 2: But from a government perspective, it's absolutely clear that there

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Speaker 2: is an economic benefit like building a dike, like building

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Speaker 2: a flood barrier. For that, governments should be able to

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Speaker 2: borrow money in the form of barns or debt or

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Speaker 2: some instrument and invest now so that they don't have

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Speaker 2: to then end up paying a lot more money to

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Speaker 2: deal with the impacts in the future. That requires governments

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Speaker 2: to have the ability to borrow money, which, as you

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Speaker 2: talked about, is a problem right now because the world's

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Speaker 2: going through a dead crisis, especially in emerging economies developing countries.

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Speaker 2: Are there specific ways in which that gap can be

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Speaker 2: addressed where developing countries can be allowed to borrow for

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Speaker 2: adaptation finance.

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Speaker 1: So there are these very interesting sort of innovative mechanisms

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Speaker 1: which are basically coming up right now. Take Senegal, West Africa.

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Speaker 1: President Makisal put forward a deal with IMF right around

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Speaker 1: the so called RSF another acronym resilient sustainability facility. So

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Speaker 1: the IMF said, well, we know that your economy, Senegal,

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Speaker 1: is vulnerable to climate shocks, and that vulnerability of your

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Speaker 1: economy will eventually translate into financial risk. So what if

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Speaker 1: we IMF support you, Senegal in mainstreaming climate risk into

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Speaker 1: your economic planning. With other words, if you invest your

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Speaker 1: public expenditures on particular sectors, what is transport with the agriculture,

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Speaker 1: take climate risk into account. At the same time, In return,

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Speaker 1: Senegal said, well, that's good. So they received three hundred

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Speaker 1: million dollars in terms of credit from the IMF to

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Speaker 1: mainstream climate risk into their public expenditure process, which is great.

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Speaker 1: But separately President Marquiselos said, well, we want to do more.

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Speaker 1: We have lots of debt and our debt is increasing.

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Speaker 1: What if we were to find an agreement with say

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Speaker 1: bilateral creditors Germany, France, China, we say, you know what,

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Speaker 1: you cancel our debt and in return of their debt cancelation,

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Speaker 1: we invest that in climate adaptation efforts. This sort of

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Speaker 1: debt for climate swaps. So that's an arena, let's say,

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Speaker 1: a frontier area where the world should enter into. It's

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Speaker 1: not just about oh, tax payers in the global north

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Speaker 1: need to pay for climate adaptation in the global south.

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Speaker 1: That's a way too simplistic. Way. There are different ways of,

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Speaker 1: let's say, structuring these financial flows. And at the same time,

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Speaker 1: it's not just about money, it's also about sound policies.

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Speaker 1: You do need to have building codes which take into

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Speaker 1: account the climate shocks not just off today but also

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Speaker 1: off tomorrow, so that you don't build in a sort

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Speaker 1: of a flop prone area and without being protected.

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Speaker 2: Now, one of the leaders who was crucial in enabling

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Speaker 2: the Global Center on Adaptation to be formed was Crystallina

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Speaker 2: Georgieva at the IMF. Now, IMF has something called the

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Speaker 2: Special Drawing Rights. These are just basically money in a

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Speaker 2: way that global economies have access to. The larger the economy,

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Speaker 2: the more money access they have through the IMF, and

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Speaker 2: there's an idea where they can lend that on, lend

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Speaker 2: that right to a developing country, and so that developing

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Speaker 2: country then is able to borrow and lend money. Is

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Speaker 2: that being used for adaptation at all? Is the IMF

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Speaker 2: interested in having SDRs drawn into the adaptation debate?

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Speaker 1: Yes, so the SDR, the Special Drawing Rise is sort

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Speaker 1: of this mechanism indeed to mobilize additional financing the effactor

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Speaker 1: on the international capital markets. And indeed Africa needs much

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Speaker 1: more SDRs and have now. So we have been very

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Speaker 1: focal to get more of the SDRs recycled on lended

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Speaker 1: by the global north. In a nutshell, so the IMF

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Speaker 1: particularly also, I would dare to say, because of Crystallinagorgava,

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Speaker 1: because of our development background from the World Bank before,

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Speaker 1: from the European Commission, humanitarian work before brought into the

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Speaker 1: IMF work adaptation at the center. And that's why this

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Speaker 1: SDR recycling is so important. It is being used as

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Speaker 1: being now even transferred through institutions such as the African

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Speaker 1: Development Bank. I mean the African Development Bank is I

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Speaker 1: would say, setting the goal standard because they said, well,

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Speaker 1: out of our overall climate finance portfolio, sixty five percent

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Speaker 1: is going to climate adaptation. So there are sort of

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Speaker 1: ways in where current funding Africa to Asia to the

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Speaker 1: current being can be channels in a different way. It's

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Speaker 1: not just new money, it's also using existing financial flows.

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Speaker 2: Wisely, one other idea has been to try and put

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Speaker 2: a levee on fossil fuel profits or on financial transactions,

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Speaker 2: a very small levy that would end up with billions

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Speaker 2: of dollars that would be available for climate finance. Is

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Speaker 2: that something being talked about for adaptation specifically.

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Speaker 1: So it's interesting you say, is let's say carbon pricing,

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Speaker 1: putting a price on pollution is out there for I

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Speaker 1: would say since the early nineties. Obviously it's currently being

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Speaker 1: discussed here in Dubai around well, we need to put

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Speaker 1: indeed a levee on the oil and gas industry because

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Speaker 1: that can then fund loss and damage, right, I mean,

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Speaker 1: but surprisingly enough again here this sort of rechanneling of

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Speaker 1: finance extracted from basically a levy or tax on carbon

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Speaker 1: pollution to fund adaptation specifically is a missed opportunity. But

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Speaker 1: there is space also in this. I mean, it's just basically,

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Speaker 1: how do you utilize their revenues collected from different sources.

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Speaker 2: We should talk about the Global Center and Adaptation, and

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Speaker 2: I think the best way to try and understand what

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Speaker 2: you're doing is to recognize that your office in the

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Speaker 2: Netherlands is the world's largest floating office. Very fitting for

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Speaker 2: an organization that's trying to deal with adaptation was that

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Speaker 2: by design.

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Speaker 1: It was by design. I mean, what's the best way

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Speaker 1: to showcase that adaptation is possible is to have being

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Speaker 1: hosted in an office which indeed goes up twice a day,

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Speaker 1: two meters up and two meters downs. It's the largest

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Speaker 1: floating office. And that's also why we were so delighted

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Speaker 1: that President Ruta of Kenya so actually there was a

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Speaker 1: great office in the Netherlands of the Global Center and Adaptation.

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Speaker 1: We Kenya will host the Africa Office in Kenya, which

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Speaker 1: will be a fully nature based solution It also speaks

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Speaker 1: to the point that adaptation in different context means different things.

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Speaker 1: So obviously in Kenya is different than in the Netherlands.

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Speaker 2: Your organization was founded only in twenty eighteen, so that

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Speaker 2: sort of speaks to the point where even though adaptation

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Speaker 2: has been something that we should have talked about from

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Speaker 2: day one, we're only starting to really focus on it

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Speaker 2: in the recent years. What is it that Global Center

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Speaker 2: and Adaptation is now enabling as an organization that's been

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Speaker 2: created in twenty eighteen and is trying to bring together

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Speaker 2: these various strands that need to be dealt with as

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Speaker 2: we try and deploy adaptive sos.

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Speaker 1: So the Global Centerdate or GCA to use that acronym,

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Speaker 1: what do we do on a Monday morning? The facto

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Speaker 1: three things? One, well, very much focus on the political mobilization,

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Speaker 1: sort of turn up the heat on political leaders, but

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Speaker 1: quite frankly, political leaders speaking without the analytics, without the evidence,

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Speaker 1: without the case studies, without the numbers, it's like sort

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Speaker 1: of an emperor without clothes. So our second pillar is

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Speaker 1: very much focused on analytics. Every year we issue our

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Speaker 1: state and Trends on adaptation, which is basically a very

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Speaker 1: concrete operational roape map, what other priority areas, where should

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Speaker 1: you invest in, who should invest against? What sort of

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Speaker 1: metrics is success being measured against a particular region or

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00:26:48,040 --> 00:26:51,880
Speaker 1: a sector. But the third pillar where we all will

436
00:26:51,920 --> 00:26:54,439
Speaker 1: be just not just a global center in aupdate, but

437
00:26:54,560 --> 00:26:57,399
Speaker 1: any organization. What are we doing on the ground at

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00:26:57,400 --> 00:26:59,200
Speaker 1: the end of the day. That's where the robber hits

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00:26:59,200 --> 00:27:03,040
Speaker 1: the road. Together with the African Development Bank, in twenty

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00:27:03,160 --> 00:27:07,359
Speaker 1: twenty one, we launched the largest adaptation program in the world,

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00:27:07,359 --> 00:27:11,480
Speaker 1: the Africa Adaptation Acceleration Program, the Triple AP twenty five

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00:27:11,480 --> 00:27:13,640
Speaker 1: billion dollars over five years, and in the last two

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00:27:13,680 --> 00:27:17,720
Speaker 1: years we have invested close to seven billion dollars in

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00:27:18,400 --> 00:27:23,240
Speaker 1: resiling infrastructure, drought tolerant crops, climate information systems, in youth

445
00:27:23,359 --> 00:27:27,919
Speaker 1: and jobs, access to finance. So it's working, is moving,

446
00:27:28,359 --> 00:27:32,080
Speaker 1: but again it's not at the scale and speed which

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00:27:32,200 --> 00:27:32,919
Speaker 1: is required.

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00:27:33,320 --> 00:27:35,760
Speaker 2: There's a lot to do on adaptation, but there is

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00:27:35,880 --> 00:27:39,320
Speaker 2: an area that is even less talked about, which is

450
00:27:39,680 --> 00:27:44,159
Speaker 2: there will be places that become uninhabitable, unlivable, or just

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00:27:44,200 --> 00:27:48,399
Speaker 2: disappear because sea levels rise. How do you have those

452
00:27:48,440 --> 00:27:51,960
Speaker 2: conversations with the countries that will have those regions coming

453
00:27:52,040 --> 00:27:53,720
Speaker 2: up or are already there.

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00:27:53,840 --> 00:27:57,880
Speaker 1: Well, we don't have to tell people the climate impacts

455
00:27:57,880 --> 00:27:59,959
Speaker 1: if you live in the global South, because they live

456
00:28:00,040 --> 00:28:02,440
Speaker 1: being on the frontline of the climate emergency today. They're

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00:28:02,480 --> 00:28:05,640
Speaker 1: living at basically in their daily lives there they're moving from,

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00:28:06,080 --> 00:28:10,560
Speaker 1: say the Marshall Islands. Are ready to say California because

459
00:28:10,600 --> 00:28:13,639
Speaker 1: there is a treaty between between the United States and

460
00:28:13,640 --> 00:28:16,560
Speaker 1: and and the Marshal Islands for all sorts of other reasons.

461
00:28:16,800 --> 00:28:21,160
Speaker 1: So this phenomena of sort of the impacts of climates

462
00:28:21,200 --> 00:28:25,639
Speaker 1: basically tipping over sort of realities to adapt to it.

463
00:28:26,040 --> 00:28:28,679
Speaker 1: That that is, that is very front and center for

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00:28:28,720 --> 00:28:31,400
Speaker 1: those who are living on the front lines today. Take

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00:28:31,480 --> 00:28:34,119
Speaker 1: for example, another topic which we haven't addressed yet is

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00:28:34,359 --> 00:28:39,280
Speaker 1: the psychological impact. I mean you see, say India, that

467
00:28:39,400 --> 00:28:44,480
Speaker 1: there is a correlation between the level of suicide and

468
00:28:44,880 --> 00:28:48,800
Speaker 1: sort of the ratio of droughts of small hall of farmers. Right,

469
00:28:48,840 --> 00:28:51,120
Speaker 1: I mean, it's not the only factor, obviously we all

470
00:28:51,200 --> 00:28:54,160
Speaker 1: understand that, but there is a strong correlation in that regard.

471
00:28:54,240 --> 00:28:58,640
Speaker 1: So sort of the the implications at the societal level

472
00:28:58,760 --> 00:29:03,719
Speaker 1: is not us financing. Financing is important. It's not just policies.

473
00:29:04,000 --> 00:29:08,600
Speaker 1: Policies aren't important. It is also the human the psychological

474
00:29:09,000 --> 00:29:11,480
Speaker 1: factors which need to be addressed, and so this is

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00:29:11,480 --> 00:29:16,000
Speaker 1: so this adaptation field, in my view, is so underdeveloped.

476
00:29:16,160 --> 00:29:19,240
Speaker 1: Yet that's why it's so important that it's really being

477
00:29:19,280 --> 00:29:20,880
Speaker 1: elevated at all levels.

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00:29:22,480 --> 00:29:25,520
Speaker 2: This has been an enlightening conversation and I look forward

479
00:29:25,520 --> 00:29:28,720
Speaker 2: to keeping up with the topic and trying to find

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00:29:28,760 --> 00:29:31,680
Speaker 2: ways in which that gap can be filled. Thank you

481
00:29:31,760 --> 00:29:41,000
Speaker 2: very much, Thank you for listening to Zero. Apart from

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00:29:41,000 --> 00:29:44,160
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