Today, Administrator Samantha Power took part in a roundtable discussion on the President's Emergency Plan for Adaptation and Resilience (PREPARE) and its Call to Action to the Private Sector to invest in building resilience to climate change worldwide.
Administrator Power underscored the urgency of scaling public and private investment in resilience, given global disasters in 2023 resulted in economic losses totaling $250 billion. She also highlighted the business imperative and opportunity of investing in climate adaptation, with recent research showing that every dollar a company invests in implementing adaptation and resilience measures can yield from $2 to $15 in financial benefits from avoided losses in revenue and cost savings.
The Administrator acknowledged the significant work of Call to Action participants to date. Their efforts will mobilize more than $3 billion in cash, insurance coverage, credit, and in kind services. In the first year under the Call to Action, companies supported more than nine million people in Africa, the Middle East, and Latin America to better manage the impacts of climate change.
She also welcomed new commitments from AstraZeneca, AECOM, and Cisco to invest in building community resilience to climate change.
