Climate adaptation has never been more vital for our survival

From the year 2000 to 2019, climate change already cost the world’s most vulnerable countries an estimated $525 billion. This burden only continues to rise, putting lives at risk and undoing hard-won development gains, with global annual damages likely to land somewhere between $19 trillion and $59 trillion in 2050. Even more sobering, the world economy is already locked into a 19 percent loss of income by 2050 due to climate change, no matter how successful today’s mitigation efforts are.

This makes one thing clear: The consequence of inaction is far greater than the consequence of action. The world must stop seeing adaptation as a cost to bear but as an investment that strengthens economies and builds healthier, more secure communities.

Every dollar invested in adaptation can generate more than 10 times that in benefits through avoided losses, as well as induced economic, social and environmental benefits. Every dollar invested in agricultural research and development generates similar returns for smallholder farmers, vulnerable communities and ecosystems too.

This remains true even if climate-related disasters don’t occur. Effective adaptation does more than save lives — it makes the economic case for resilience. And if we really want to tackle the crises of today’s world, we need to put people — especially those most vulnerable — at the center of all our conversations and efforts. Those least responsible for climate change are the ones our financing must reach.

Here, locally led adaptation provides a path forward, focusing on giving communities agency over their futures, addressing structural inequalities and enhancing local capacities.

Today, more than 2 billion people depend on smallholder farms for their livelihoods, but as little as 1.7 percent of climate finance reaches Indigenous communities and locally operated farms. Small-scale agri-food systems, which are essential to many in developing countries, receive a mere 0.8 percent of international climate finance.