The Economics of (and Obstacles to) Aligning Development and Climate Change Adaptation

Climate change has the potential to affect billions of people; it will jeopardize future development, economic growth, and poverty reduction. The lack of financial resources, as well as multiple nonfinancial obstacles (e.g., market or government failures and uncertainties), often impair the ability to reduce its impact through adaptation. Addressing these obstacles can reduce the cost of adaptation, maximize its benefits, and yield significant economic and development co-benefits, making economies more robust and productive and societies fairer and more prosperous.

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