As evidence mounts that mitigation alone won’t prevent significant global temperature increases, climate adaptation and resilience to protect the poorest are more urgent than ever. Multilateral development banks (MDBs) are among the largest sources of adaptation finance to lower-income countries, providing $25 billion per year. But that’s still a fraction of what’s needed, and too often the conversation stops at the size of the gap, rather than other key issues like targeting—highlighted in a new CGD paper, which finds that some of the most at-risk countries receive relatively little adaptation finance from the World Bank.
This event goes beyond the financing shortfall to explore several urgent questions, building on the new CGD paper: How can we target MDB adaptation finance to the most vulnerable countries? How do we mobilize more adaptation finance? What's the best way to boost investments in countries vulnerable to both climate shocks and conflict? What will it take to build more resilient agriculture, and expand energy access for greater resilience?
