Introduction:
Governments alone can't shoulder the immense costs of transitioning to a low-carbon, climate-resilient future. Collaboration between public and private sectors is essential to bridge the funding gap and drive innovative solutions.
Nevertheless the private sector’s engagement in climate action is low. This is largely a result of many businesses being unsure about how they can contribute to government plans due to a lack of clarity on needs, investments, and the role of the private sector. In addition, the private sector often sees the return on investment in climate adaptation as unclear or too small.
Some ways this can be overcome is through strategic use of grants, credit enhancement, and blended finance that can mitigate risks and costs, making investments in climate-resilient agriculture more attractive to the private sector.
Governments can also incentivise private sector investment through tax breaks and subsidies, supported by conducive regulation, certification schemes, and performance standards.
In this context we would love if you can share in the discussion forum below the following with us:
- What according to you are the main challenges that hinder private sector engagement in climate adaptation?
- How can private sector engagement in climate resilient food systems be increased?
- Do you have examples of public-private collaboration that is contributing to climate resilient food systems in your community or city?