Futureproofing Cities to Avoid Atlantis - Evolving Finance for Adaptation Solutions
20 Apr 2022
The IPCC AR6's warning is explicit – sea level rise of 2m by 2100 and 5m by 2150 "cannot be ruled out due to deep uncertainty in ice sheet processes" if we are unable to rein in emissions. These levels will be existential to Singapore and many other cities and communities along Asia's coastlines - millions of people could lose their homes and trillions of dollars of assets could be stranded.
Such existential threats demand a grand redesign of our cities and careful planning needs to start now. Billions of dollars will have to be raised to adapt and futureproof our cities, yet most of climate financing is skewed towards decarbonisation not adaptation. This is worrying as rising seas could trigger systemic shocks in global financial systems due to their exposure to concentrated chronic risks from coastal threats across Asia.
How can cities and banks survive? Will water risks hamper future investments? Why is it still so hard to raise funds for ambitious adaptation projects? What steps can we take to adapt and thrive?
With a greater than 50% chance of reaching 1.5°C before 2040, there's a narrowing window of opportunity to enact visionary and transformative climate resilient development. The clock is ticking – so join CWR & SIWW for two hours of frank discussions with an all-star line up from adaptation experts and top scientists to top executives from PUB, large asset holders, major global banks, financial regulators and credit rating agencies. See what they have to say on how we can waterproof our cities and financial systems to deliver resilience and avoid Atlantis.