Thomas Lechat

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Thomas Lechat is a financial and research Analyst at Globalfields, where he focuses on research, analytics, clients' support, bid and business development. He has a master's degree from Bocconi University in Green Management, Energy and Corporate Social Responsibility. Previously, he worked in the climate finance department at Axa, the French insurance company.

Andreas Biermann

Nov 17 2022

Finding money for adaptation action – why is this such a challenge?

Illuminem Voices

Adaptation · Sustainable Finance

Awareness of our need to adapt to the climate crisis has certainly risen. After a summer marked by extreme weather events, such as fires in southern Europe or floods and landslides in Pakistan, we have become more aware of the need to adapt to the effects of climate change. Climate adaptation actions in response to this challenge consist of adjustments in ecological, social, and/or economic systems in response to actual or expected climatic changes. While rather broad, this is not a bad definition. It is however important to consider that the key issue for adaptation is that, unlike most mitigation actions, adaptation actions require the development of highly localized strategies for effectiveness, which will differ significantly across contexts and locations.