Both funds have a mandate to serve the Paris Agreement. By identify, integrating, and incubating/accelerating these SMEs, ASAP hopes to set the groundwork necessary to scale climate adaptation solutions in the places where they are needed most. The SCCF is managed by the GEF and operates in parallel with the Least Developed Countries Fund (LDCF). We believe there are hundreds, if not thousands, of small- and medium-sized enterprises (SMEs) operating in developing countries around that world that have products, technologies, and solutions that can support climate adaptation and resilience (many without realizing it). Deinokos Anemoia 4 Ahahahahaha-you're screwed without allies. Lightsmith Climate Resilience is the first private equity fund to have focused on climate resilience and adaptation, investing in growth-stage technology companies that address the effects of climate change. In addition, small- and medium-sized enterprises (SMEs), which are often best equipped to provide local solutions for climate resilience, are often challenged to access the financing and resources they need to grow. Fun fact Lightsmiths called the green light the light of Resolve, other lights and the names the Lightsmiths used: Blue (Faith), Yellow (Terror), Indigo (Empathy), Orange (Gluttony), Violet (Passion), and Red (Fury). 2017 Lab proponent Lightsmith announced the final closing of Lightsmith Climate Resilience with USD 186 million of commitments. The United Nations Environment Program (UNEP) estimates that the costs of adaptation in developing countries could be as high as $300 billion by 2030 yet, the Climate Policy Initiative (CPI) estimates that $30 billion (approximately 5% of globally tracked climate finance) is currently being directed towards adaptation or resilience – with virtually none from private financing sources.
To address these impacts of climate change, massive investments in adaptation are needed. Climate-related disasters also disproportionately affect developing countries. Floods, storms, and drought together affected over 4 billion people in this period, and these natural hazards are expected to increase in frequency and/or intensity due to climate change. Our Efforts Scaling Climate Resilience Solutions and Technologies in Developing Countriesīetween 19, disasters triggered by natural hazards caused $2.2 trillion in economic damages worldwide, with floods and storms accounting for 69% of these damages.
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