The world can deal with the potentially catastrophic risks of climate change only by changing the pattern of investment in the global economy to climate-friendly activity. But to do that, a different set of risks have to be addressed, the risks perceived by investors to be inevitable in new technologies and new geographies, often in both at the same time. Increased transparency of climate risks and the gradual greening of the global financial system are helpful trends. Blended finance, using relatively risk-tolerant public funds to pave the way for risk-averse private funds is important but is not yet available in sufficient volume even when robust returns are in promise in emissions mitigation activity such as renewable energy. In the climate adaptation task, critical for most developing countries, investment is lagging badly. Improved governance, particularly in water resource management, the pillar of adaptation, is essential for increasing both public and private investment. The Global Water Partnership provides a tried and effective model for strong governance of water resources, enhanced water security and a platform for successful adaptation.
The Speaker: Mr. Howard Bamsey, Chair, Global Water Partnership (GWP) Howard Bamsey is Chair of the Global Water Partnership and Honorary Professor in the School of Regulation and Global Governance at the Australian National University. He is member of the Board of the Climate Policy Initiative and Climate Works Australia. He was previously Executive Director at the Green Climate Fund and Director General of the Global Green Growth Institute. Earlier he was Australia’s Special Envoy on Climate Change and a senior Australian public servant. He held several appointments at ambassadorial level in the Australian foreign service. Bamsey was educated at the University of Queensland and the Harvard Business School.