The Work Foundation, Trafalgar Square, London — Jointly organized by the African Development Bank (AfDB), the Climate Investment Funds (CIF) and the Lancaster University Pentland Centre for Sustainability in Business, this invitation-only event will launch the concept of an Adaptation Benefit Mechanism - a transparent and efficient results-based mechanism to support adaptation to climate change, will be held at The Work Foundation, Trafalgar Square, from 9:00-13:30, Tuesday, April 11, 2017.
The Adaptation Benefit Mechanism (ABM) is a revolutionary programme developed by the Bank with initial funding from the CIF and support from Lancaster University's Pentland Centre for Sustainable Business that could serve as a business model to encourage private sector investment in climate change adaptation, sending a price signal to project developers that will encourage them to invest in technologies, goods and services which bring verified adaptation and resilience benefits to developing economies.
Participants of this workshop will have the opportunity to learn about the conceptual design of the ABM, how it may be used for corporate social responsibility activities alongside or instead of carbon offsetting and will hear about a range of potential projects that could be funded by the mechanism. It is hoped that one or more of the participants will be willing to enter into an offtake agreement to then help finance the project, demonstrating the mechanism's feasibility and scalability.
Attendees will include UK corporates, multilateral climate accord negotiators, African financial intermediaries, academics, and development partners.
For information on the conference, please contact: Gareth Phillips, g.phillips@afdb.org
For media information, please contact: Clare Fleming, c.fleming@afdb.org; Sonia Borrini, s.borrini@afdb.org, tel. +225 2026 55 62 (Abidjan)
About the African Development Bank Group:
The African Development Bank Group (AfDB) is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. www.afdb.org
About the Climate Investment Funds (CIF)
The AfDB is serving as an implementing agency of the Climate Investment Funds (CIF). Established in 2008 as one of the largest fast-tracked climate financing instruments in the world, the US $8.3 billion CIF gives developing countries worldwide an urgently needed jump-start toward achieving low-carbon and climate-resilient development.
About the Lancaster University Pentland Centre for Sustainability in Business
Lancaster University is an internationally highly-ranked leader in the provision of inspiring teaching and research. The vision of the Pentland Centre for Sustainability in Business is to create a world-class hub for transdisciplinary research on sustainability. The Centre explores macro trends, particularly in environmental sustainability, ethical trade, human rights, and how business can be a force for good.
