世界银行-气候适应和自然基础设施融资（英）-2025_129页_4mb

Summary of "Financing Climate Adaptation and Nature-Based Infrastructure"

Core Content

This report focuses on the opportunities for increasing private sector participation and financing for climate adaptation and nature-based infrastructure in Emerging and Developing Economies (EMDEs). It outlines the challenges and potential solutions for mobilizing private investment in infrastructure that addresses climate risks and nature loss, emphasizing the need for innovative financing mechanisms, supportive policy environments, and multi-stakeholder collaboration.

Main Viewpoints

• Climate Change Impacts: Climate change is intensifying hydrological variability, coastal storms, and heatwaves. These effects are expected to worsen as global temperatures rise, with EMDEs being the most vulnerable due to structural and economic factors.
• Need for Adaptation Infrastructure: Existing infrastructure must become more resilient, and additional infrastructure—both grey (traditional) and green (nature-based)—is essential to mitigate climate impacts.
• Private Sector Participation: Private investment is critical to meet the high financial demands for adaptation, especially given the fiscal constraints of EMDEs. However, the public nature of climate adaptation infrastructure poses challenges for cost recovery and revenue generation.
• Enabling Environment: The development of a supportive regulatory, data, and governance environment is essential for attracting private investment. This includes access to climate data, investment incentives, and multi-stakeholder collaboration.

Key Information

Types of Climate Adaptation Infrastructure

• Flood Risk Management and Coastal Resilience: Projects aimed at reducing flood risk and enhancing coastal resilience, often involving public-private partnerships (PPPs) and land value capture.
• Water Security: Infrastructure that ensures sustainable water supply and management, with potential for user fees and government funding.
• Urban Heat Management: Initiatives to reduce urban heat through green infrastructure and other nature-based solutions.

Nature-Based Infrastructure

• Definition: Infrastructure that uses nature-based solutions (NbS) to address societal challenges while benefiting the environment. Examples include reforestation for flood protection and mangrove restoration for coastal defense.
• Ecological Benefits: These projects contribute to watershed restoration, biodiversity improvement, and the preservation of ecosystem services.

Cost Recovery Models

1. User Pays: Charging users directly for the services provided, applicable to water security projects.
2. Government Pays: Public sector funding through availability or debt service payments, often used for essential and inherently public infrastructure.
3. Land Value Capture: Governments capture land value increases resulting from public investment, though this is rare and challenging to implement.
4. Climate-Related Funding: Revenue derived from achieving specific climate outcomes, such as carbon emissions reduction.

Financing Models

1. Public-Private Partnerships (PPPs): Commonly used for projects with user fees, especially in developed economies with strong PPP frameworks.
2. Capital Markets Finance: Bond issuance allows governments to access large-scale, long-term capital, often from institutional investors.
3. Own-Source Financing: Companies use their own capital for smaller-scale projects, justified by clear business rationales such as energy efficiency.
4. Public Finance and Donor Grants: Particularly valuable for pilot projects and high-risk initiatives, especially in EMDEs.

Key Recommendations

• Strengthen the Economic Case for Public Investment: Governments must support project financing and cost recovery, and ensure that public resources are directed to areas of highest need.
• Strengthen the Business Case for Private Investment: Explore alternative cost recovery methods, including integrating climate objectives into PPPs, leveraging land value capture, and using results-based financing like carbon finance.
• Develop Bankable Project Pipelines: Demonstration projects are crucial for attracting private investment and accelerating progress in climate adaptation and nature-based infrastructure.

Enabling Environment Factors

• Improved Access to Climate Data: Better data is essential for accurate risk assessment and project planning.
• Investment Incentives: Policies and frameworks that address market failures and encourage private investment.
• Multi-Stakeholder Collaboration: Coordination across government, private sector, and NGOs is necessary for complex, geographically dispersed projects.

Conclusion

A concerted effort is required to address the financing gap and unlock the potential of private investment in climate adaptation and nature-based infrastructure. Strengthening the economic and business case, developing innovative financing mechanisms, and creating a supportive enabling environment will be critical for achieving a more climate-resilient and nature-positive future in EMDEs.

Case Studies

The report includes case studies from various countries, illustrating successful models of financing and cost recovery for both climate adaptation and nature-based infrastructure. These include:

• Climate Adaptation Infrastructure: Fargo-Moorhead River Diversion Project (USA), Broadland Flood Protection (UK), Canal del Dique (Colombia), Mission Rock, San Francisco (USA), Msimbazi River Basin (Tanzania), As-Samra Wastewater Recycling Plant (Jordan), Paris District Cooling PPP (France), DeltaProgramme (Netherlands), DC Water Rock Creek Project A (USA).
• Nature-Based Infrastructure: Greater Cape Town Water Fund (South Africa), Quito Water Protection Fund (Ecuador), Itaipu Paraguay Biodiversity Project (Paraguay), Vida Manglar Blue Carbon Project (Colombia), Quintana Roo Coral Reef Restoration (Mexico), Adelaide Airport Heat Reduction Trial (Australia), Blue Bonds for Ocean Conservation (Belize), Biodiversity Bond (Colombia).

These case studies highlight the diversity of approaches and the importance of tailored financing models and supportive environments.