Without climate adaptation, people suffer. Without money, there is no adaptation.
The Adaptation Foundry is an independent exploration of what adaptation to a changing climate requires, who can pay for it, and what private capital can and cannot do.
Read the essayAdapting to climate change is no longer a choice, and many hope that an adaptation economy will pay for much of it. It will pay for part: mainly where whoever pays is also the one who benefits. I set out four reasons for that, and three ways it could change.
My closing words at the first edition of The Shift: why adapting to climate change is not like adapting to the internet, and why we cannot rely mainly on business opportunities to get it done.
Some adaptation solutions are investable today, more could become so, and some will always need public money. Three questions follow from that, and they run through much of what I write here.
Some adaptation solutions can be sold to a buyer who benefits and can pay. Those are investable today.
Innovation, risk sharing and new rules can each turn a need into a market.
Some adaptation will remain a public or philanthropic task. The useful question there is how to get it funded.
I invest in early-stage companies that contribute to adaptation, and I work on projects that bring companies, investors and researchers together.
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I am Thomas Krick. I have worked for about two decades where business meets society and the environment. I now work on how we prepare for the climate change we can no longer avoid. The Adaptation Foundry is my independent exploration of that question.
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