The Adaptation SME Accelerator Project (ASAP) released the Adaptation Solutions Taxonomy (ASAP Taxonomy) recently. It is the first peer-reviewed set of definitions and eligibility criteria focused on the climate adaptation solutions offered by private sector companies.
ASAP recognizes the important role that Small and Medium-size Enterprises (SMEs) can play in supporting climate adaptation. Consequently, the ASAP Taxonomy offers a systematic approach to identify SMEs that produce technologies, products, and services that support adaptation to climate change and enables investors and governments to target investment and support.
The ASAP Taxonomy builds upon existing definitions and international standards around climate finance, to foster harmonization and uptake. It has been reviewed by a panel of global experts and is actively being applied to identify hundreds of private companies that offer climate adaptation solutions. Furthermore, the ASAP Taxonomy specifically focuses on SMEs in developing countries but can be extended to apply to businesses of all sizes, operating in all geographies.
By using the ASAP taxonomy, investors, funders, companies, governments, and policymakers can enhance the supply and uptake of climate adaptation solutions globally, and especially in the places where they are needed most.
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