Climate adaptation investment planning: Lessons learned

This report explores how developing countries can convert their climate adaptation goals into investment-ready programs that incorporate public and private financing, generate strong economic returns, and help drive development benefits. It draws on the initial results of the five-step Climate Adaptation Investment Planning (CAIP) framework that was piloted in Armenia, Bhutan, Cambodia, Indonesia, Mongolia, and Nepal from 2022 to 2025.

The report concludes that successfully mobilizing adaptation investments requires balancing ambition with pragmatism and building granularity through iteration. Strengthening the climate evidence base and rationale helps prioritize investments and identify financing sources. Comprehensive adaptation packages should address multiple climate risks at the system level with diverse investment types. Evaluations of the benefits of investing in adaptation can use qualitative assessments and proxies, while simple heuristics can aid finance matchmaking. It is also vital to broaden and deepen engagement with key actors, foster a country-led coordinated approach, and ensure adequate financing for the journey to investment readiness.