Resilient CLIMATE Financing and Investment Taskforces (CLIMATEFIT)

The CLIMATEFIT project emphasizes the urgent need for accelerated action to adapt to ongoing climate change. Focusing on Southern, Eastern, and Northwestern Europe, CLIMATEFIT aims to bridge the resilience financing gap by enhancing the capacity of Public Authorities (PAs) and Financing and Investment Entities (FIEs). The project is experimenting with 20 territories, identifying funding barriers and enablers to create a manual for designing innovative investment strategies. CLIMATEFIT is developing credible investment plans, piloting tailored investment cases, and establishing Local Resilience Taskforces (LRTs) composed of PAs and FIEs. Led by WCF, the consortium seeks to inform EU policies, boost resilience financing, and disseminate findings through the European Network of LRTs and a user-oriented One-Stop Shop.

A recent (2024) project report "Financing and Investment in adaptation" highlights that most Financial Institutions and Entities (FIE) are not yet adquately prepared to finance climate adaptation efforts. The research reveals that adaptation financing is in its infancy, with a significant gap between the urgency of adaptation and FIEs' readiness to provide funding. This misalignment has resulted in a lower willingness to invest in adaptation compared to other climate-related challenges like low-carbon transitions, nature preservation, and biodiversity initiatives.

All thr other project reports are available on the Knowledge center section of the project website.