Adaptation through Water: Scaling Private Sector Finance for Climate Adaptation in Southeast Asia

Water sustains communities, ecosystems and economic growth. Yet climate change is placing unprecedented pressure on this vital resource – disrupting rainfall patterns, straining water supplies and intensifying floods and droughts. In Southeast Asia, where climate risks are deeply intertwined with water systems, strengthening resilience through adaptation is increasingly urgent to safeguard communities, ecosystems and support long-term growth and development.

This report explores how the private sector can accelerate participation and financing for Adaptation through Water (AtW). It highlights the key enablers of bankable AtW solutions globally, including translating resilience into financial value, aggregating projects, aligning risk-return profiles with different forms of capital and establishing robust impact measurement frameworks. Given the fragmented nature of water systems, it also highlights that pathways to effective governance and coordination mechanisms are essential to align public and private stakeholders, structure investable opportunities, and support and scale financing for adaptation.

Building on the Southeast Asia Partnership for Adaptation through Water (SEAPAW)’s 2025 white paper, which established the AtW framework, the report focuses on translating concept into implementation. It draws on the collective experience of SEAPAW members and contributors over multiple years, including engagements with investors, commercial and development finance institutions and private sector companies involved in climate adaptation.

SEAPAW is a partnership between the World Economic Forum and the Singapore International Foundation. It is the first platform in Southeast Asia to focus on water as an approach to climate change adaptation.