🌟 Exciting insights from the Adaptation and Resilience Conference in Brussels on April 23rd and 24th, organized by Federale Raad voor Duurzame Ontwikkeling (FRDO)-CFDD, EEAC, and Minaraad. This event featured sessions with speakers from prominent institutions like the European Investment Bank (EIB), OECD – OCDE, and International Institute for Sustainable Development, focusing on the crucial topics such as the one our CLIMATEFIT project is also targeting: financing adaptation efforts.

Key takeaways from the session “How can the insurance sector contribute to combating adaptation risks? What are financing strategies for developing countries? And what is the EIB’s adaptation plan?” include:
🌍 Lack of dedicated budgets for adaptation in most EU member states underscores significant gaps in assessing financial needs.
💰 Investing in adaptation proves rewarding; every euro invested today saves 14 euros in avoided recovery costs from climate risk impacts.
💡 Closing the adaptation finance gap requires creative solutions, blending public and private capital.

These findings emphasize the importance of initiatives like the EU Horizon project CLIMATEFIT. We’re committed to developing tools for public authorities to craft robust climate adaptation investment strategies, including innovative financing solutions that combine public and private capital to secure dedicated budgets for adaptation.