✉news EnvironmentClimate first seen 3 d ago, last 3 d ago, peak #30
Climate adaptation needs $1.2 trillion a year by 2050, McKinsey says
Original: McKinsey Global Institute: Climate adaptation could need $1.2 trillion a year by 2050. $690 billion of it is stuck
The McKinsey Global Institute estimates the world may need to spend about $1.2 trillion a year on climate adaptation by 2050, but around $690 billion of that funding is not currently flowing. The report highlights a large financing gap for defending infrastructure, agriculture and communities against climate impacts, and is prompting debate over who should pay and how private capital can be mobilised.
Why now: A major new report quantifies a huge unfunded gap in climate adaptation spending, drawing attention amid rising extreme-weather costs.
McKinsey Global InstituteMcKinsey & Company
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