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. Lightsmith partners with these companies to help them scale their solutions globally. 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). With extreme weather spotlighting the arrival of climate change, a unique new growth capital partnership is overtaking its peers to expedite adaptation to solve the problem. The Lightsmith Group seeks to generate attractive financial returns by investing in growth-stage companies that address critical societal needs. 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. 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. Lightsmith Group invests in growth-stage technology companies with solutions for climate resilience, decarbonization, and sustainability in energy, water, food and agriculture, supply chains, and. The GEF’s new climate change adaptation strategy for the 2022-2026 period will focus SCCF support in the following two priority areas: The Small Island Developing States of the. Both funds have a mandate to serve the Paris Agreement. 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. The SCCF is managed by the GEF and operates in parallel with the Least Developed Countries Fund (LDCF). 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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