《亚开行-加快私营部门参与亚洲及太平洋地区的适应工作（英）-2022.11-64正式版.pdf》由会员分享，可在线阅读，更多相关《亚开行-加快私营部门参与亚洲及太平洋地区的适应工作（英）-2022.11-64正式版.pdf（63页珍藏版）》请在taowenge.com淘文阁网|工程机械CAD图纸|机械工程制图|CAD装配图下载|SolidWorks_CaTia_CAD_UG_PROE_设计图分享下载上搜索。
1、ASIAN DEVELOPMENT BANKADB SUSTAINABLE DEVELOPMENT WORKING PAPER SERIESNO.84November 2022ACCELERATING PRIVATE SECTOR ENGAGEMENT IN ADAPTATION IN ASIA AND THE PACIFICXianfu LuASIAN DEVELOPMENT BANKADB Sustainable Development Working Paper SeriesAccelerating Private Sector Engagement in Adaptation in A
2、sia and the PacificXianfu LuNo.84|November 2022Xianfu Lu has worked on the science,policy and practices of adaptation and climate resilience for over 20 years,with a focus on integrating physical climate risk into development financing operations.She serves as a climate change adaptation consultant
3、on Private Sector Finance to ADB.Creative Commons Attribution 3.0 IGO license(CC BY 3.0 IGO)2022 Asian Development Bank6 ADB Avenue,Mandaluyong City,1550 Metro Manila,PhilippinesTel+63 2 8632 4444;Fax+63 2 8636 2444www.adb.orgSome rights reserved.Published in 2022.ISSN 2789-0619(print);2789-0627(ele
4、ctronic)Publication Stock No.WPS220513-2DOI:http:/dx.doi.org/10.22617/WPS220513-2The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank(ADB)or its Board of Governors or the governments they represent.ADB do
5、es not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use.The mention of specific companies or products of manufacturers does not imply that they are endorsed or recommended by ADB in preference to others of a similar nature
6、 that are not mentioned.By making any designation of or reference to a particular territory or geographic area,or by using the term“country”in this document,ADB does not intend to make any judgments as to the legal or other status of any territory or area.This work is available under the Creative Co
7、mmons Attribution 3.0 IGO license(CC BY 3.0 IGO)https:/creativecommons.org/licenses/by/3.0/igo/.By using the content of this publication,you agree to be bound by the terms of this license.For attribution,translations,adaptations,and permissions,please read the provisions and terms of use at https:/w
8、ww.adb.org/terms-use#openaccess.This CC license does not apply to non-ADB copyright materials in this publication.If the material is attributed to another source,contact the copyright owner or publisher of that source for permission to reproduce it.ADB cannot be held liable for any claims that arise
9、 as a result of your use of the material.Please contact pubsmarketingadb.org if you have questions or comments with respect to content,or if you wish to obtainc copyright permission for your intended use that does not fall within these terms,or for permission to use the ADB logo.The ADB Sustainable
10、Development Working Paper Series presents data,information,and/or findings from ongoing research and studies to encourage exchange of ideas and elicit comment and feedback about development issues in Asia and the Pacific.Since papers in this series are intended for quick and easy dissemination,the c
11、ontent may or may not be fully edited and may later be modified for final publication.Corrigenda to ADB publications may be found at http:/www.adb.org/publications/corrigenda.Notes:In this publication,$refers to United States dollars.ADB recognizes“America”as the United States and“South Korea”as the
12、 Republic of Korea.Printed on recycled paperCONTENTSTABLES,FIGURES,AND BOXES viACKNOWLEDGMENTS viiABBREVIATIONS viiiEXECUTIVE SUMMARY ixI INTRODUCTION 1II CURRENT PRACTICES OF PRIVATE SECTOR ENGAGEMENT IN ADAPTATION 3III KEY CHALLENGES AND BARRIERS 11IV OPPORTUNITIES 15V FRAMEWORK FOR ACTION 24VI CO
13、NCLUSION 26APPENDIXES 36 1 CLIMATE CHANGE IMPACTS ON KEY BUSINESS SECTORS 36 2 POTENTIAL ADAPTATION MEASURES AND OPPORTUNITY 38 AREAS IN CLIMATE RESILIENCE INVESTMENT 3 OUTLINE OF AN INTERNAL ENGAGEMENT MODULE 44 4 ADDITIONAL RESOURCES 46REFERENCES 49viTABLES,FIGURES AND BOXESTABLES1 Key Features of
14、 Private Sector Engagement in Adaptation 5 2 Summary of Key Barriers to Scaling Up Private Sector Engagement in Adaptation 123 Needs of Private Sector Entities to Engage in Adaptation 264 Summary of Potential ADB Actions to Address Key Barriers and Scale Up Private 32 Sector Engagement in Adaptation
15、 in Asia and the PacificA1 Impacts of Climate Change on Infrastructure in Key Sectors 36A2.1 Examples of Adaptation Measures within Key Sectors 38A2.2 Examples of Cross-Sector Adaptation Measures 40A2.3 Examples of Activities that Enhance Adaptive Capacity 41A2.4 Examples of Adaptation Business Oppo
16、rtunities in Different Sectors 43FIGURES1 Disproportionate Adverse Impacts of Climate Change in Asia by 2050 12 Direct and Indirect Physical Climate Risks to Businesses 43 Support for Private Sector Engagement in Adaptation by Development Finance 7 Institutions:ADB as an Example 4 Sources of Adaptat
17、ion Finance 85 Innovation for Climate Change Adaptation As a Share of Total Innovation,19952015 116 ADB Staff Knowledge and Operational Experience 147 The Adaptation SME Accelerator Project Directory 178 Action Pillars Mapped into the Stages of a Typical Adaptation Operational Cycle 25 within DFIs:A
18、DB As An example9 Illustrative Cash Flow Patterns Over Time for Different Types of Conservation 29 and Nature-Based Solutions ProjectsBOXES1 Productive Investment Initiative for Adaptation to Climate Change:CAMBio II 92 PublicPrivate Partnerships to Leverage Private Sector Action on Adaptation 193 A
19、n Example of How“One ADB”Approach Works in Practice(Peoples Republic of 21 China:Climate-Resilient and Smart Urban Water Infrastructure Project)4 An Example of ADB Ventures Portfolio Company 235 Catalyzing Private Sector Investment in Nature-Based Solutions to Adaptation 286 Strategic Deployment of
20、Technical Assistance Resources 30 viiACKNOWLEDGMENTSThis report was prepared by the Climate Change and Disaster Risk Management Division,Sustainable Development and Climate Change Department(SDCC)of the Asian Development Bank(ADB),with the support from TA 6627-REG:Building Institutional Capacity:Del
21、ivering Climate Solutions under Operational Priority 3 of Strategy 2030.Esmyra Javier,climate change specialist(climate finance),SDCC,led the development of the report;with substantive inputs from Arghya Sinha Roy,principal climate change specialist;Nanki Kaur,senior climate change specialist(climat
22、e change adaptation),SDCC;and Noel Peters,principal climate change specialist,Private Sector Operations Department(PSOD).ADB consultant Xianfu Lu developed the report,Hannah Ebro(former TA consultant)provided support in the early development of the report,and Marlene Vinluan(senior analyst and TA co
23、ordinator)provided support in the review and finalization of this report.Through a series of interviews and focused discussions,the following ADB staff and consultants provided valuable insights and inputs to the report:Daniel Hersson of ADB Ventures;Nathan Rive and Cynthia Wang(intern)of Central an
24、d West Asia Department;Jinqiang Chen of East Asia Department;Ichiro Aoki,Christine Chan,Sanjay Grover,Mohammed Azim Hashimi,Mukta Malhotra,Rohit Nag(consultant),Dhivya Ravikumar,Ruchika Saluja,and Siddhartha Shah of the Office of PublicPrivate Partnership;Noelle OBrien,formerly of Pacific Department
25、;David Barton(principal investment specialist),John Juhyun Jeong,Japnit Kaur,Hisaka Kimura,Kate Jarvis(consultant),Misha Lentz(investment specialist),and Brett Sutton(consultant)of the PSOD;Joy Amor Bailey(consultant),Okju Jeong(consultant),Virinder Sharma,and Zonibel Woods of SDCC;and Srinvasan Anc
26、ha of Southeast Asia Department.viiiADBAsian Development BankCCRICoalition for Climate Resilience InvestmentCPSCountry Partnership StrategyDMCdeveloping member countryEBRDEuropean Bank for Reconstruction and DevelopmentGCFGreen Climate FundNbSnatural-based solutionsOPPPOffice of PublicPrivate Partne
27、rshipPPPpublicprivate partnershipPRCPeoples Republic of ChinaPSODPrivate Sector Operations DepartmentSDCCSustainable Development and Climate Change DepartmentSMEssmall and medium-sized enterprisesTAtechnical assistanceTCFDTask Force on Climate-related Financial DisclosuresUNFCCUnited Nations Framewo
28、rk Convention on Climate ChangeABBREVIATIONSixEXECUTIVE SUMMARY Private sector engagement is essential to bridge the adaptation gap.The sixth assessment report of the Intergovernmental Panel on Climate Change(IPCC),calls for urgent and bold mitigation and adaptation actions to seize the narrow but r
29、apidly disappearing window of opportunitiesto secure a livable future for all.This report was based on even more compelling scientific evidence referred to as“code red.”Despite more adaptation that is occurring,these are highly uneven and adaptation gap is expected to widen in some of the most vulne
30、rable countries.Adaptation has,so far,been supported predominantly by the public sector.To effectively address the adaptation gap,particularly during the post-COVID-19 era when public finance is under more severe strain,private sector engagement is essential.There are three main modes of private sec
31、tor engagement in adaptation.To survive and thrive in a changing climate,businesses in the private sector need to become“adaptors.”In addressing the wide range of physical climate risks to communities,economies,and the environment,the private sector is relied upon to be the“solution providers”to sup
32、ply the technologies,the services,and the products for building climate resilience.As“financiers,”the private sector can help fill in the considerable gap in financing programs for adaptation.To date,all three forms of private sector engagement are taking place,to varying extents and degrees of part
33、icipation.The private sector faces considerable technical,institutional,and financial barriers to engaging in adaptation.Even with the widely recognized need,private sector engagement in adaptation remains nascent and must overcome a number of profound challenges.These challenges include the followi
34、ng:(i)many private sector entities often have limited understanding of climate exposure and risks and their own businesses vulnerability and those of the wider society,thus,their inability to pinpoint where the needs are,and employ adaptation measures currently available;(ii)in many developing count
35、ries,enabling policy and other institutional conditions are not yet in place to facilitate private sector engagement in adaptation;and finally,(iii)the challenges in creating a viable value stream and financial incentives make it difficult for many private sector entities to build a compelling busin
36、ess case for taking adaptation action or investing in adaptation products and services.However,opportunities for the private sector are emerging so businesses could step up their engagement in adaptation.The adoption of the Paris Agreement on climate change,the ensuing climate policy development,and
37、 the compelling scientific evidence have provided the imperative for businesses in the private sector to adapt.Building climate resilience is becoming an integral part of business risk management,and an area of business growth and/or investment.Prominent examples include the growing support to the r
38、ecommendations of the Task Force on Climate-Related Financial Disclosuresto report climate-related risks and opportunities.With targeted support from the public sector,a climate resilience entrepreneurial ecosystem is emerging,developing,and growing businesses that provide resilience solutions.Progr
39、ess has also been made in developing more risk-tolerant financing instruments and tools to facilitate private sector engagement.xDevelopment finance institutions(DFIs),including ADB,could accelerate all three modes of private sector engagement in adaptationusing the full spectrum of their operationa
40、l modalities.Developing countries in Asia and the Pacific are among the most vulnerable to the impacts of climate change.Development finance institutions(DFIs)working in the region are well placed to help accelerate private sector investments for adaptation.Some of the examples are technical assista
41、nce,policy and institutional development,risk analytics,and adaptation investment planning.DFIs can also help by improving the risk-adjusted return on investment profile through their deployment of risk-tolerant financing instruments and tools.As small and medium-sized enterprises(SMEs)are the backb
42、one of developing economies,DFIs in these countries could immensely support and stimulate SMEs to engage in adaptation as these enterprises have the knowledge of the local markets and can operate in local currencies.Since they often lack the capacity and resources,SMEs could benefit and robustly thr
43、ive with the support of multilateral and bilateral DFIs.Building on its financing support for adaptation at project level,primarily through sovereign operations,the Asian Development Bank(ADB)and other DFIs could scale up their support to developing countries in Asia and the Pacific in building clim
44、ate resilienceby accelerating the engagement of the private sector.DFIs could mobilize all function teams and work through their full operational cycle to(i)strengthen upstream engagement through policy dialogues and country programming processes,(ii)accelerate the development and piloting of new fi
45、nancing products and tools,(iii)deploy technical assistance strategically,(iv)leverage partnerships,and(v)further enhance internal policy and operational processes so that these become conducive to engaging private sector entities in adaptation.I.INTRODUCTION1.ContextThe Asia and Pacific region is c
46、haracterized by considerable development opportunities but also faces a high level of vulnerability to climate change.As highlighted by the latest assessment report of the Intergovernmental Panel on Climate Change(IPCC),some 3.3 billion3.6 billion people live in areas that are highly vulnerable to c
47、limate change,with global hot spots of high human vulnerability found particularly in South Asia and in small island developing states,among others(IPCC 2022).Asia has six of the top 10 countries globally that are worst affected by climate-related disasters during the past 20 years(Germanwatch 2021)
48、.In the decades ahead,a wide range of climate change impacts are expected for the region,such as(i)rising temperature increases the likelihood of heat wave threats across Asia;(ii)droughts in arid and semiarid areas of West Asia,Central Asia,and South Asia;(iii)floods in monsoon regions in South Asi
49、a,Southeast Asia,and East Asia;and(iv)glacier melting in the Hindu KushHimalayan region;and(v)rapidly increasing flooding events in the small islands in the Pacific as a result of projected changes in the wave climate superimposed on sea-level rise(IPCC 2022).As shown in Figure 1,Asia is to bear the
50、 brunt of the physical climate risks to people,critical infrastructure,and the economy.While action to mitigate climate change is more urgent than everto seize the rapidly disappearing window of opportunity to keep the global warming below 2oCactions to adapt to the inevitable climate change are nee