Spotlight

“The economics of climate adaptation: Investing in a resilient future” was the topic of this year's OECD Green Growth and Sustainable Development Forum, which focused on the economics of climate adaptation. AFED participated as member of the Green Policy Knowledge Platform (GGKP).

Across six sessions, the Forum explored how adaptation investments can generate economic benefits beyond avoided losses. It also explored how adaptation gets integrated in public and private decision making and mainstreamed across economic sectors, discussing the role of businesses and nature in driving progress and the job implications of adaptation. Experiences from many countries were presented and analyzed, highlighting both successes and failures.

While stressing the importance of investing in climate adaptation, AFED warned that plans under adaptation titles in many countries are used as pretext to delay serious climate action, mainly transitioning away from carbon-producing fuels. In many cases, adaptation measures, such as cooling vulnerable spaces like those related to healthcare sector and babycare, to overcome heatwaves, contribute to higher emissions. They thus give false impression of positive action, while boosting climate change. Mitigation, under fair rules, remains the prime goal.