In an interview with Climate Home News, CPI’s Adaptation and Resilience workstream manager Morgan Richmond explains that private investments in adaptation are likely vastly underestimated due to major tracking challenges.

Using a more advanced tracking method, CPI increased private adaptation finance tracked by more than four times from the USD 1 billion previously tracked from 2019 to 2022.

While much more remains to be done to fully capture private sector investment in adaptation, the analysis represents a significant advancement towards better identification, and visibility of finance flows that will hopefully encourage more businesses and investors to engage in the adaptation space.