Scaling finance for adaptation

Adaptation is underfunded.

There is broad consensus on the importance of adaptation finance in responding to the climate crisis. However, ambiguity on what adequate financing looks like has left space for misleading narratives to take root.

Worldwide, vulnerable communities that have contributed the least to climate change are being deprived of the resources necessary to adapt to a world affected by climate change. Whether it's large infrastructure projects like constructing flood barriers or smaller initiatives like installing air conditioning in hospitals, adaptation funding is not reaching the areas that need it most.

Debates around the total figure for climate finance goals can make the issue feel intangible.

This video looks at the critical importance of sufficient adaptation finance for vulnerable communities:

Source: ODI Global

Reframing misleading narratives around Adaptation Finance

Malango Mughogho and Michai Robertson have written a research report on five misleading narratives surrounding adaptation, and the real-life negative impacts they manifest.

These narratives explore whether:

1. There can be a commonly agreed definition of adaptation finance.

2. Adaptation is purely about public good and should be conducted through government-only processes.

3. A costed National Adaptation Plan (NAP), a large project pipeline and the existence of climate funding are sufficient to guarantee adaptation finance for a developing country.

4. Private finance will meet any adaptation funding gaps that the public sector does not, especially through blended finance.

5. A resilient beneficiary is the best metric of success for adaptation and the effectiveness of adaptation finance.

Misleading narratives on these issues risk prompting stakeholders in processes such as the G20 or the United Nations Convention Framework on Climate Change (UNFCCC) to provide unsuitable solutions or even to address issues that do not exist.

The authors propose a number of counter-narratives to reframe these myths within negotiations and discussions. By doing so, focus can remain on what really matters: adequate, accessible and effective adaptation finance.

The report can be viewed on our Publications page, as well as on the ODI Global website.