Remarks by Dan Carol, Head of Climate Finance, Milken Institute, at the November 30th Bahamas Sustainable Investment Program Event
Dan Carol, Head of Climate Finance, Milken Institute, presented the case for transforming climate finance:
“COP28 needs to be about a new focus on adaptation and resilience to help frontline communities cope with the “here and now” effects of climate. Voices across Africa, Southeast Asia and the Caribbean are looking to build next generation natural infrastructure projects to protect vulnerable populations. Investing more in adaptation isn’t just the morally right thing to do; doing so now will reduce future financial losses by trillions of dollars.
We are advising all parties to implement a five-fold increase in public spending on adaptation and resilience in the next decade from where it stands now -- less than 10 percent of total climate finance spending.”