BONN, Germany — Adaptation was a key issue at the COP23 climate discussions that closed this weekend. Representatives from developing countries arrived at the conference in Bonn, Germany, looking for solutions to the problems created by rising temperatures, and for the money to begin implementing them.
Many expressed disappointment, both with donors and with the financing mechanisms that are supposed to help support these types of efforts. The situation has them looking to alternative sources — including the private sector.
It would be an unexpected partnership. Business has traditionally been more interested in activities that focus on mitigation, as they offer more immediate returns on investment. But private sector representatives said they are increasingly looking at ways they can work with governments and communities to promote adaptation efforts.