Meeting the costs of adaptation measures for climate change is a major challenge for most local authorities and other stakeholders. The financial crisis, reduced incomes from taxation, the arrival of many refugees and other factors can put pressure on municipal budgets. In many cities, an old infrastructure for basic services and transport needs to be replaced, requiring significant investments. In the face of these challenges, it might seem that there is little room for financing adaptation measures. However, integrating adaptation needs into investment for long-term developments, such as technical infrastructure and buildings, would save money in the long term.
One needs to consider that the successful implementation of measures needs more than financial resources. It also requires sufficient awareness and support by decision-makers in the public and private sectors, citizens and other stakeholders.
11 case studies in this publication provide an insight into the different ways to finance urban adaptation action and interesting lessons can already be learned.
The report has been developed by the European Environment Agency and the European Topic Centre on Climate Change Impacts, Vulnerability and Adaptation.
Read more here.