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Add to Preferred SourcesClimate impacts are affecting all regions of the world and cut across all sectors of society. The greatest impact, however, is falling on the poorest and most vulnerable.
The costs of climate change on people and economies are clear. At the same time, adaptation actions could be some of the most cost-effective investments a country, city, or company can make.
The flagship report of the Global Commission on Adaptation, Adapt Now: A Global Call for Leadership on Climate Resilience, launched on September 10, 2019, highlighting the economic and moral case for concerted action on adaptation and calling for greater action to deliver a stronger, safer, and thriving world.
“Climate change threatens homes, lives and livelihoods everywhere, but it is the poorest who are often hit hardest because they lack the resources to cope. Without urgent action to respond to the ravages of climate change, millions more people could be plunged into poverty. The World Bank is increasing investment in adaptation because the evidence shows that resilient buildings, infrastructure and public services are good for communities, business and the sustained growth of the entire economy,” said Axel van Trotsenburg Acting CEO of the World Bank.
Earlier this year, the World Bank Group launched the Action Plan on Climate Change Adaptation and Resilience. Under the plan, the World Bank Group will ramp up direct adaptation finance to reach $50 billion over the 2021–2025 period.
Through this dedicated action plan – the first of its kind – the World Bank Group is making adaptation and resilience a key priority that will elevate it to an equal footing with climate mitigation actions.
The Action Plan builds on the link between adaptation and development by promoting effective and early actions that also provide positive development outcomes. Adaptation and development are inextricably linked and reciprocal: good adaptation can deliver good development outcomes, and securing good development requires effective adaptation action.
Original source: World Bank
Published on 10 September 2019