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The Triple Dividend of Building Climate Resilience: Taking Stock, Moving Forward

The level of financing for and investment in climate change adaptation is currently insufficient to enable developing countries to effectively respond to climate-induced risks. This paper reviews the literature relating to the benefits of investments in climate change adaptation. It presents the current state of research and highlights recent attempts to quantify benefits across the triple dividends – benefits associated with avoided losses, development benefits, and non-market social and environmental benefits. Based on new empirical analysis, it finds that the second and third dividends are highly significant and especially important since they accrue regardless of whether the actual climate risk materializes. This finding will help governments increase access to adaptation finance, improve project design, and improve project monitoring and evaluation. The paper serves as a guide to researchers, policymakers, and investors analyzing the costs and benefits associated with interventions needed to better adapt to climate change around the world.

Heubaum, Harald; Brandon, Carter; Tanner, Thomas; Surminski, Swenia; Roezer, Viktor

Language: English
Published By: World Resources Institute
Published date: November 2022

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