Climate Change, Global Governance, International Trade & Finance, Sustainability Reviewing the nature and pitfalls of multilateral adaptation finance for small island developing states

April 27, 2022
By Ellis Kalaidjian and Stacy-ann Robinson | Science Direct

Small island developing states (SIDS) are recognized as being among the most vulnerable countries to climate change—many are highly exposed and sensitive to, inter alia, sea-level rise and increased intensity storms, yet often lack the human and financial resources needed for successful and/or effective adaptation.

The international community has responded to SIDS’ precarious situation, in part, by establishing a suite of multilateral funding mechanisms to help finance costly adaptation projects and programs. However, to date, there has been a mismatch between the level of international climate finance mobilized and the scale of adaptation that is needed in SIDS.

This paper reviews the relevant academic and policy literatures to provide a system-wide diagnosis of the institutional and conceptual problems plaguing adaptation-specific multilateral climate funds, which are often addressed in isolation. 

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