Europe and Central Asia need billions for climate adaptation, but nobody is paying

Countries in Europe and Central Asia face severe climate risks, but they are not investing enough to adapt. The region needs 1-5% of its GDP annually for climate adaptation, but current funding is among the lowest globally.

The World Bank has put a number on a problem everyone knew was coming: climate change will cost a lot, and nobody has figured out how to pay for it. This report shows that even when adaptation projects have clear economic benefits, the money is not flowing. It means that without new rules or incentives, countries will likely continue to underinvest in protecting themselves from floods, droughts, and heatwaves.