The key findings are outlined:
Finding 1: The best estimate of the cost of adaptation in developing countries is between $60-$100 billion a year by 2030, although this is subject to considerable uncertainty.
Finding 2: Current flows of adaptation finance are significantly lower than future needs; there is a need to progressively scale up flows of adaptation investment from all sources (public, private, domestic and international) in the near term.
Finding 3: Uncertainty over climate impacts is not a reason for inaction on adaptation today; but does demand that adaptation decisions are made strategically.
Finding 4: There are complementary roles for the public and private sector in supporting adaptation activities; standard economic analysis can be used to help delineate the appropriate role for each.
Finding 5: Given limited resources for international climate finance for adaptation, resources may be optimally focussed in countries with high adaptation costs and where adaptation actors have limited access to finance. The limited evidence suggests that adaptation finance is not being prioritised in this way.
This report has been produced by Vivid Economics for the UK Department for International Development (DFID) Adaptation Knowledge and Tools programme and published through Evidence on Demand.
The Adaptation Knowledge and Tools programme is a DFID-funded programme intended to maximise the effectiveness of UK and international investment in climate change adaptation and resilience. The knowledge and tools generated through this programme are expected to promote greater understanding of what constitutes best practice in adaptation, as well as better international cohesion and coordination around adaptation. Through these entry points the programme expects to increase the quality of international and UK adaptation programming and reduce its risk.
Vivid Economics. The comparative advantage of global public money for adaptation. Key findings summary prepared for DFID. Vivid Economics, London, UK (2013) 6 pp.