The continued loss and damage of critical infrastructure and livelihoods due to multiple, recurring climate hazards underscores the urgent need to build a resilient future especially in vulnerable and underserved countries. Developing countries require an estimated 12-fold increase of current adaptation spending, or roughly $387 billion annually to reduce climate change vulnerability.
However, additional debt adds significant burden to fragile economies that may already struggle to rebuild critical infrastructure that has been devastated from prior climate events. Today, fifty-four developing countries, many on the front lines of climate disruptions, face crushing debt burdens2 which they have little hope of addressing.
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