Europe is experiencing wide-ranging weather extremes as a result of climate change. Adapting to current and future climate conditions requires significant investment. Designing adaptation investment projects is complex, as the impacts of climate change and viable adaptation options vary across regions, sectors and socio-economic conditions. Investments in adaptation face many barriers, including market failures, uncertainty of revenue streams, information asymmetries and exposure to unfamiliar risks. Integrating climate change adaptation at an early planning stage is likely to be more cost effective than adaptation of existing infrastructure.
What is ADAPT?
The Climate Adaptation Investment Advisory Platform (ADAPT) is a new initiative developed as part of the EIB Climate Adaptation Plan, with the aim of directly contributing to the objectives of the EU Adaptation Strategy.
ADAPT is an advisory platform that aims at facilitating the deployment of technical and financial expertise to address specific investment and market needs and to accelerating the financing of climate adaptation investments that have the potential to strengthen the resilience of cities, infrastructure networks, coastal areas, river basins, food systems, forests and ecosystems and other activities vulnerable to climate change.
What does ADAPT offer?
ADAPT builds upon the complementary resources of joint EIB and EU advisory initiatives. It offers advisory services, capacity building and knowledge transfer throughout all stages of the project cycle in line with the policy goals of the InvestEU programme and JASPERS. Each ADAPT advisory assignment will be tailored to the specific needs of the project promoter and may include the following:
Development of adaptation investment strategies and programmes; Identification of adaptation project pipelines; Support to mainstream adaptation in the design of projects for specific sectors and type of investment; Support for technology transfer schemes to enable adaption technologies and solutions; Strategic dialogues and workshops at EU member state level on national, regional and local adaptation priorities.
Project preparation, development and implementation support
Support in identification, preparation and implementation of adaptation investments, including enabling activities; Advice on climate risk and vulnerability assessments and on climate-proofing of infrastructure projects; Advice on climate risks in Public-Private-Partnership (PPPs); Support to analysis of climate risks in value and supply chains; Support in financial structuring to improve access to adaptation finance; Advice on nature-based solution (NbS); Advice on adaptation impact measurement systems for financial intermediaries and investors.
Capacity building and awareness raising
Training, workshops and knowledge-sharing events on mainstreaming climate adaptation in project planning and preparation; Development of methodological and technical guidance documents; Training on managing and reporting climate-related financial risks and opportunities.
ADAPT provides knowledge and expertise in adaptation through specialised EIB staff who may be supported by external consultants. It does not provide grant funding or loans, but may facilitate access to such funding from other sources. Support from ADAPT will not guarantee the approval of such funding from other sources.
Who can benefit from ADAPT?
All public and private project promoters including, but not limited to:
- Public authorities: cities, local authorities, regional administrations, managing authorities responsible for EU funds
- Corporates and public-sector entities: energy network operators, power producers, public transport agencies, port authorities, hospital operators, agricultural enterprises, water utilities
- Financial institutions: commercial banks, national promotional institutions, insurance companies, fund managers
How to contact us?
All interested project promoters can contact us on ADAPT@eib.org. Each advisory request will subsequently be assessed on a case-by-case basis. Existing EIB Group clients can also directly approach their respective EIB counterparts to enquire about ADAPT. JASPERS beneficiaries can also access ADAPT in the context of their Country Work Program discussions and through the normal means of identification of new assignments.
When contacting us, please tell us more about your organisation, your investment project and the climate adaptation context of the project. If possible, please indicate the specific climate-related hazards you want to address with your project (e.g. flooding, water scarcity, droughts, sea level rise, heat waves, storms or forest fires just to name a few).
Public sector promoters can receive advisory services at no cost. Private sector promoters may be asked for a financial contribution towards the cost of the advisory services, this will be agreed on a case-by-case basis.
As a new initiative, ADAPT will initially focus on high-impact advisory assignments that address key adaptation barriers and market failures. ADAPT will prioritise advisory requests presenting a strong justification and added-value for technical and financial expertise.
The following preliminary guiding principles will help prioritise adaptation advisory requests under ADAPT:
Alignment to the objectives of the new EU adaptation strategy, EU green deal, national adaptation strategies and plans, policy windows under InvestEU, priorities under the European Structural and Investment Funds (ESIF) and other relevant EU funds.
Identification of the specific physical assets, infrastructure networks, communities, ecosystems or value chains that are vulnerable to climate change. The advice will help project promoters to better understand climate hazards and their impacts, mainstream climate risks into investment planning and decision-making and to identify appropriate technical and financing solutions.
The link between the advisory assistance requested and concrete adaptation investment projects or programmes that could be supported by the EIB group, national promotional banks, financial institutions and EU funds.
Additionality and impact
Advisory support provided by ADAPT shall be complementary to advisory offers available from other EU programmes. ADAPT advisory assignments should have the potential to be upscaled, replicated, contribute to awareness raising and capacity strengthening of public authorities and promoters, as well as contributing to dissemination of good practices and knowledge-sharing to the benefit of a wider group of similar project promoters.
Clearly defined rationale, objectives and expected results, based on a problem analysis. Maturity of the intervention logic (explanation of how the advisory services help to achieve the expected results).
EU Policy and strategy resources
- EU Adaptation Strategy, European Commission, 2021
- European Climate Adaptation Platform (Climate-ADAPT)
- Technical guidance on the climate proofing of infrastructure in the period 2021-2027, European Commission, 2021
- Technical guidance on sustainability proofing for the InvestEU Fund, European Commission, 2021
- Climate change impacts and adaptation in Europe, Joint Research Centre, 2020
- Adapting to climate change: Challenges and opportunities for the EU local and regional authorities, European Committee of the Regions, 2020
- EU Mission Adaptation to Climate Change
- EU Funding & Tender Opportunities Portal
- EU Access to Finance Portal
Other relevant guidance documents
- Adapt now: a global call for leadership on climate resilience, Global Commission on Adaptation, 2019
- Climate-resilient Infrastructure, OECD, 2018
- The Basics of Climate Change Adaptation Vulnerability and Risk Assessment, JASPERS, 2016
- Integrating Climate Change Information and Adaptation in Project Development, European Financing Institutions Working Group on Adaptation to Climate Change, 2016
- Urban Adaptation Support Tool
- The Economics of Climate Change Adaptation (ECONADAPT)
Green Advisory Service for Sustainable Investments Support (GREEN ASSIST)
The Green Advisory Service for Sustainable Investments Support (Green Assist) is a new advisory initiative under InvestEU, funded from the LIFE programme. It aims at building up a pipeline for green investment projects that have a high impact. These projects target sectors of the natural capital and circular economy, but also non-environmental sectors. Green Assist is managed by the European Climate, Infrastructure and Environment Executive Agency (CINEA) and coordinated by DG Environment (DG ENV).
For more information, please visit the Green Assist Website: https://cinea.ec.europa.eu/programmes/life/green-advisory-service-sustainable-investments-support-green-assist_en