Water continues to be the first adaptation area prioritized in updated Nationally Determined Contributions. Measures for enhancing availability, efficiency and quality of water supplies including enhancing or building water infrastructure and water resource plans, strategies and systems are listed in 87% of the NDC adaptation components. However, most of these measures are not prepared to be packaged into bankable investments and ready for financing and implementation.

At the same time, the first synthesis report of the Global Stocktake slated to conclude during COP28 revealed that collective progress on adaptation is not yet sufficient to protect communities and ecosystems from increasingly frequent and intense impacts and must undergo a step change in fulfilling the ambition laid out in the Paris Agreement. The synthesis report calls for a rapid adaptation finance scaling up from expanded and innovative sources

The Transforming Climate Finance Day will bring together stakeholders from different sectors and with different responsibilities to discuss investment opportunities and needs, explore the different sources of financing and conceive required technical and capacity enhancement support.  The Day events will offer also a platform to showcase innovative solutions and success stories to inspire stakeholders towards increasing the amount and effectiveness of funds for water climate resilience and share recommendations that can be brought to the attention of decision-makers and the formal processes of UNFCCC negotiations.

A tentative agenda for the day is presented below: 

08:30-09:00 : Opening Ceremony

09:00-10:15 : Session 1: Water climate resilient investment needs and opportunities, convened by Global Water Partnership, French Water Partnership, and the Green Climate Fund

10:45 – 12:30 : Session 2: Bridging the investment gap: Fetching financing sources & Influencing Investments, convened by CDP, OECD, and the Valuing Water Initiative

13:00 – 14:00 : Session 3: Celebration of the Water ChangeMakers Awards – Scaling-up innovative climate finance and technologies for a water secure world, convened by K-Water, The World Bank Group, Global Water Partnership, and AIP.  

15:00 – 16:00: Session 4: Boosting water resilience investments: Enhancing support for stakeholders, convened by Global Water Partnership, French Water Partnership, and the Green Climate Fund