Strengthening the investment case for climate adaptation: A triple dividend approach

The global need for adaptation finance far exceeds current public and private flows, and a key reason for this gap may be incomplete information on the costs and benefits of addressing climate risks. This working paper from the World Resources Institute can help you to better understand the value (and importance of) scaling adaptation finance. The paper is underpinned by the 'Triple Dividend of Resilience' (TDR) framework, which considers avoided losses (first dividend), induced economic or development benefits (second dividend), and additional social and environmental benefits (third dividend) of adaptation actions. The paper evaluated the full benefits of 320 climate adaptation investments in agriculture, water, infrastructure, and health across 12 countries between 2014-2024, and found that every $1 invested in adaptation can yield over $10.50 in benefits, with average returns of 20–27%. This resource will be especially beneficial for board members and senior leaders, as well as sustainability and finance professionals.