AFCIA: Sparking Innovation for Climate Change Adaptation

Events facts

Objective
Adaptation
Mitigation
Sectors
Cross-sectoral
Cross-sectoral enabler
Innovation & RDD
05 December 2023 - 3:00 pm > 4:00 pm +04
Asia/Dubai

Venue: UGIH – Global Innovation Hub 

 

Amidst escalating climate crises in the Global South, characterized by floods, rising temperatures, and wildfires, the urgent call for increased investment in climate adaptation and resilience is evident. This necessitates localized, affordable, inclusive, and innovative solutions tailored to the region's unique challenges. Current international adaptation financing falls significantly short and the widening gap underscores the critical necessity for private investment.  

The Adaptation Fund is expanding the Adaptation Fund Climate Innovation Accelerator (AFCIA), an innovative accelerator program, at COP28 with an additional US$ 20 million through new partnerships with the United Nations Industrial Development Organization (UNIDO) and the World Food Program (WFP). As an AFCIA implementer, the CTCN will showcase climate adaptation entrepreneurs during a side event, supported by CTCN-AFCIA grantees. 

Utilizing technical assistance services, 25 micro-grant projects are being implemented over 5 years to enhance climate resilience in various countries. Through AFCIA, the CTCN facilitates knowledge sharing and the exchange of best practices, fostering South-South and triangular cooperation on innovation in adaptation. 

For further details and the agenda, please refer to the enclosed document (*the document will be uploaded shortly).