for example oecd c estimated that in over of mobilised private climate finance targeted mitigation this included finance associated with export credits for renewable energy several reasons may be behind this including incomplete or asymmetric information on climate risks uncertainty about the extent of future risks imperfect capital markets with shortterm horizons and a lack of clarity on policy direction from the public sector pwc unep often mitigation activities are perceived by the private sector to have a clearer path to profitability and to generate obvious revenue streams and savings while the business case for adaptation is often less known in addition adaptation is a much more recent policy concern and thus providers are only just now beginning to target their private sector engagement efforts to also include adaptation objectives