Investing $1.8 trillion globally in climate adaptation techniques from 2020 to 2030 could generate $7.1 trillion in total net benefits, according to the Global Commission on Adaptation, launched in October 2018 by the eight UN Secretary General Ban Ki-moon.
The commission, focused on developing measures to manage the effects of climate change through technology, planning and investment, released a report on Tuesday outlining five key areas where investment will make a big difference in the fight against climate change.
The five areas the report deems critical are -
- Early warning systems
- Climate-resilient infrastructure
- Improved dryland agriculture
- Mangrove protection
- Investments to make water resources more resilient
The report calls for adaptation to address underlying inequalities in society and to bring more people, especially people most vulnerable to climate impacts, into decision-making.
"Mitigation and adaptation go hand-in-hand as two equally important building blocks of the Paris Climate Change Agreement. Adaptation is not only the right thing to do, it is also the smart thing to do to boost economic growth and create a climate resilient world," Ban Ki-moon said.
"Adaptation is an urgent issue that needs support from governments and businesses to ensure those most at risk have the opportunity to thrive," said Bill Gates, co-chair of the Global Commission on Adaptation.
Secretary General Ban Ki-moon leads the group with Bill Gates and World Bank CEO Kristalina Georgieva.
By Zeynep Beyza Kilic