Tracking the money for climate adaptation and disaster risk reduction

The costs of disasters and the negative impacts of climate change are rising globally. Record numbers of extreme weather events, exacerbated by climate change, are already costing the world billions of dollars each year. Other threats, including pandemics, geophysical hazards and cyber risks, are adding to this bill. This issue paper zooms in on public finance for climate change adaptation and disaster risk reduction and provides an overview of the latest international and country trends in tagging budgets and tracking public expenditures on climate and disaster resilience. The paper also suggests a way forward for coordinated climate change adaptation and disaster risk reduction budget tagging and public expenditure tracking for consideration by ministries of finance, planning, environment and climate change, national disaster management agencies and relevant sectors, as well as international development partners engaged in climate and disaster finance.