Financing High Performance Climate Adaptation in Agriculture: Climate Bonds for Multi-Functional Water Harvesting Infrastructure on the Canadian Prairies
Distributed water harvesting (DWH) is a climate change adaptation strategy that can offer the co-benefit of enhancing ecosystem services.
DWH has the potential to build the agriculture sector’s resilience in the Canadian Prairies, where climate change manifests as temperature increases and changes to precipitation patterns.
The investment that is needed for this high-performance—but highly local—climate adaptation project is less than CAD $1 million, which makes it ineligible for some traditional infrastructure financing mechanisms in Canada.
This article explores the potential to fund DWH through green and climate bonds earmarked for infrastructure, emphasizing the ecosystem service co-benefits that DWH offers.