The world will need an estimated $140 billion per year — or more — to help adapt to the damaging impacts of climate change. But funders have gotten caught up in drawing bright lines between adaptation and development programs. To get the most out of scarce adaptation dollars, the world needs to move past this false distinction.
Over the past 25 years, dozens of national, regional and international climate funds have emerged, creating a confusing system. New WRI research offers recommendations to more effectively attract and disburse climate finance.
The United States spent $2.6 billion in 2015 to support climate action in developing nations. This finance represents just 0.07 percent of the federal budget, but boosts U.S. business, promotes development and improves national security.
The Adaptation Futures conference in Holland last week brought together more than 1,700 practitioners and researchers from more than 95 countries—the largest-ever conference on climate adaptation. From the discussions, it's clear than 2016 is quickly becoming the year of action on resilience.
With record-breaking temperatures year after year and escalating extreme weather and climate impacts, the need for adaptation has long been apparent. Now it's finally moving beyond urgency into real action on the ground.
Experts explain how the Paris Agreement can send a strong signal that the most vulnerable countries will be supported, and that investors need to align portfolios for the inevitable zero-carbon future.
Nearly 90 percent of countries that submitted new climate action plans included an adaptation component, reflecting the growing importance nations are placing on resilience in their response to climate change.