Africa is proof that investing in climate resilience works – and that it makes good business sense

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Climate adaptation is a framework for protecting infrastructure, securing food systems and creating new business and job opportunities. And it is being aided by a thriving market in climate solutions - from weather analytics and drought-resistant crops to green finance and parametric insurance against weather-related events, which pays out claims based on a predetermined trigger such as wind speed to help communities recover faster from natural disasters. These are the foundations that allow our communities and businesses to flourish.

Africa is proof that investing in climate resilience works. The continent's leading initiative in this area - the Africa Adaptation Acceleration Programme (AAAP) - has already channelled more than $15bn to strengthen essential systems against climate shocks. These funds are helping to secure the adaptability and livelihoods of nearly 60 million vulnerable people in 40 countries. Almost one million jobs have been created in the process.

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Robust seawalls, for example, protect ports and international trade. Weather analytics and early-warning systems save millions of lives every year from impending weather disasters. Regenerative farming techniques revive degraded soils and increase crop yields. Nature-based solutions for restoring wetlands and woodlands reduce the impact of flooding and hurricanes.

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This resilience dividend is real. It would be even greater if funding for climate adaptation matched Africa's needs. The Global Center on Adaptation estimates these needs at more than $50bn a year, whereas actual funding is only a fraction of that. Most climate finance comes from multilateral development banks, with hardly any private-sector involvement.

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