Financing adaptation for resilient livelihoods under food system transformation: the role of Multilateral Development Banks

Leslie Lipper (), Romina Cavatassi, Ricci Symons (), Alashiya Gordes () and Oliver Page ()
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Leslie Lipper: Cornell University
Ricci Symons: Environment and Climate Change, Environment Climate Gender and Social Inclusion Division, International Fund for Agricultural Development
Alashiya Gordes: Environment and Climate Change, Environment Climate Gender and Social Inclusion Division, International Fund for Agricultural Development
Oliver Page: Latin America and Caribbean Region, International Fund for Agricultural Development

Food Security: The Science, Sociology and Economics of Food Production and Access to Food, 2021, vol. 13, issue 6, No 11, 1525-1540

Abstract: Abstract Climate change is imposing a transformative process on agricultural and food systems, threatening the livelihoods of people dependent upon them which includes a large share of the world’s poor people. Transformative adaptation that addresses the risks and vulnerabilities to livelihoods that climate change imposes is essential for effective and inclusive transformation of food systems. Financing that is adequate, accessible and appropriate is essential to realizing these objectives. Multilateral Development Banks (MDBs) are already playing an important role in financing transformative adaptation in the agri-food sector and are well-placed to address some of the existing shortcomings. Expanding public sector climate finance and incentivizing private sector investments is needed to attain adequate levels of financing. Reconsidering the rules and procedures for obtaining public sector finance and the capacity to utilize already existent administrative structures, as well as better targeting of activities and communities is important for accessibility. Appropriate finance requires use of mechanisms that address characteristics of the investment, including riskiness, delayed returns, high social values and new and unproven activities. Utilizing blended finance integrated with development finance can generate financing appropriate to the investment needs. Some positive shifts in these directions are already being undertaken by MDBs but more is required.

Keywords: Climate change adaptation; Agri-food system livelihoods; Climate finance; Food system transformation; Rural poor; Resilience (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/s12571-021-01210-7

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