Eric White, head of climate adaptation at the World Economic Forum, explains to Water & Wastewater Asia why aligning public-private interests around water resilience could be the catalyst Southeast Asia needs to accelerate climate adaptation and unlock new investment flows.
Eric White, head of climate adaptation, World Economic Forum (Image: World Economic Forum)
Private sector engagement in climate adaptation remains limited, and Eric White believes much of this reluctance stems from a fundamental misunderstanding. “Adaptation is too often misunderstood as a distraction from the urgent need to reduce emissions,” he said. “This perception—that preparing for climate impacts somehow dilutes the imperative to cut greenhouse gases—is not only mistaken, but dangerous.”
White pointed to the events of the past year as proof that mitigation and adaptation are not competing, but complementary imperatives. In 2023, the World Meteorological Organization recorded the hottest year on record, with over 600 extreme weather events—including 151 considered “unprecedented”. “We must address climate impacts now while ensuring through greenhouse gas emissions reduction that they do not accelerate further,” he said.
Another major hurdle is the challenge of quantifying adaptation outcomes. “Unlike mitigation, where emissions reductions can be directly measured, adaptation is more complex and context-dependent,” White explained. He emphasised the need to shift perceptions and view adaptation as essential to long-term value creation, helping companies protect assets, secure supply chains, and operate in increasingly volatile conditions.
Initiatives such as the Southeast Asia Partnership for Adaptation through Water (SEAPAW) are beginning to build this narrative. “By connecting private and public sector actors, SEAPAW demonstrates how adaptation investments can generate new market opportunities,” White said.
Why water makes adaptation investible
According to White, water is the most immediate and tangible expression of climate risk for businesses. “Scarcity, excess, and pollution are not abstract concepts, but day-to-day operational realities,” he said. These disruptions can threaten supply chains, interrupt production, and trigger regulatory change with little warning.
Yet, water also offers a gateway to adaptation-focused investment. Citing a case from the Büyük Menderes River Basin in southwestern Türkiye, White described how the textile industry—faced with water scarcity and pollution—responded through a water stewardship programme led by WWF-Türkiye and local partners. The initiative resulted in the development of a cleaner production guide and training for over 30 companies. Six companies invested €3 million in improvements, achieving water savings of 570,000 cubic metres and energy savings of 200,000 kWh. Further feasibility analyses revealed that an investment of €15.5 million could generate savings of €12.2 million annually.
“This is a concrete example of how water-focused adaptation can deliver both environmental and economic returns,” said White. “It’s the kind of thinking we are embedding into SEAPAW—framing water not only as a climate risk, but also as a strategic opportunity.”
Global models for Southeast Asia to learn from
Asked what Southeast Asia can learn from other regions, White pointed to the power of coordinated public–private action. “Breakthroughs happen when public and private sectors come together around shared priorities,” he said.
He highlighted the Women Adapt Project in West Africa, which mobilised climate-smart loans and resilience technologies for women-led agribusinesses. “By equipping smallholders with irrigation systems and drought-resilient seeds, these efforts addressed water risk while attracting private investment,” he said.
White also referenced the GAIA Climate Loan Fund, launched in 2024, which combines public and private capital to support water resilience projects across up to 25 vulnerable countries. “It’s helping fund drought-tolerant infrastructure and efficient water systems for utilities and businesses—unlocking a new scale of private engagement.”
For Southeast Asia, the message is clear: leverage blended finance, adopt digital and financial tools, and frame adaptation around water as a business opportunity. “The result can be a more resilient, competitive, and sustainable regional business landscape,” said White.
Catalysing action through collaboration
As head of climate adaptation at the World Economic Forum, White sees global platforms as critical enablers of local solutions. “We act as hubs for collaboration and momentum,” he said. “Our role is to create neutral ground for governments, industry, and civil society to align, share strategies, and build context-specific action plans.”
By facilitating regional exchanges, elevating the role of water in climate policy, and championing innovative financial models, platforms like the Forum help to drive investments where they are most needed. One example is SEAPAW—a joint initiative between the Singapore International Foundation and the World Economic Forum. The platform convenes leaders from across sectors to accelerate Southeast Asia’s readiness for climate change through water resilience. “SEAPAW shows how global convening power can be translated into regional action,” said White.
A defining opportunity in climate resilience
Despite the challenges, White remains optimistic about the potential of adaptation through water. “Water is fundamental to society—it shapes economic development and human well-being,” he said. “Progress in water adaptation delivers gains across all sectors.”
What gives him hope is the pragmatic energy he sees across Southeast Asia. “There’s a growing understanding that water resilience is not just about avoiding risk—it’s a strategic opportunity for business. I believe more and more stakeholders will engage through water as a way to protect their interests while bringing benefits to people and communities.”
