At What Cost? How chronic gaps in adaptation finance expose the world's poorest to climate chaos.
Commissioned by Mercy Corps and Concern Worldwide (as part of the Zurich Flood Resilience Alliance)
The impacts of these climate challenges are not inevitable. This report deals with the financing of two existing measures – climate change adaptation (CCA) and disaster risk reduction (DRR) – to better manage and reduce the risk of climate-related disasters and enable people to cope with multiple shocks and stresses. In 2009, wealthy countries committed to mobilize $100 bn in annual climate finance to assist low-income countries to address climate change by 2020. To mark the deadline of this commitment, this report assesses the last decade of global official development assistance (ODA) invested in building people’s resilience to climate change. The report asks two questions:
- Is the international community meeting the commitments it has made?
- Is funding for climate change adaptation and disaster risk reduction going to
those people and countries that need it most?
The findings are shocking and yet unsurprising; there is insufficient investment in preparing for the impacts of climate change and money is not going to the countries and people that need it most.