New Delhi, Aug. 21 -- Climate adaptation is often viewed as a defensive cost, necessary to protect societies from the effects of a warming world. That framing is incomplete. As governments increasingly allocate resources to address environmental risks and invest in adaptation and resilience projects, they open up new streams of commercial activity. They create markets for goods, services and technologies built to withstand climate change.

The flow of capital, mostly from public sources, is directed towards the private sector as public institutions identify adaptation and resilience requirements, allot budgetary funds and engage private contractors to deliver solutions.

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