Financing Adaptation in Vulnerable Nations: Who Pays?

Authors

  • Nicolas Molina González Thompson Rivers University - Open Learning
  • Sofía Cartagena Thompson Rivers University

DOI:

https://doi.org/10.29173/bcelnfe779

Keywords:

climate adaptation finance, climate justice, catastrophe bonds, climate risk finance, developing countries, climate resilience, adaptation funding gap, global climate inequality

Author Biographies

Nicolas Molina González, Thompson Rivers University - Open Learning

Nicolas Molina González is an undergraduate student at Thompson Rivers University studying economics and politics. He was born in Santa Rosa de Viterbo, Colombia, and grew up with a strong interest in sports, particularly soccer, which shaped his values of teamwork, perseverance, and personal discipline. After completing high school, Nicolas began his international education journey in the United States, attending Snow College in Utah, where he studied as an international student and developed his English language skills. He later continued his academic path in Canada at Thompson Rivers University, where he is pursuing further studies in economics and political issues. Nicolas is particularly interested in understanding the political and economic challenges that shape societies and hopes to contribute to solutions that improve social well-being. He is known for his kindness, patience, and determination to approach life’s challenges with optimism and resilience.

Sofía Cartagena, Thompson Rivers University

Sofía Cartagena is pursuing a Bachelor of Arts in Economics with a minor in Environmental Economics and Sustainable Development at Thompson Rivers University. Born in El Salvador in 2004, she grew up in a supportive family and developed a strong sense of social responsibility. She volunteered with children and youth through community programs in Santa Tecla and Antiguo Cuscatlán, experiences that helped shape her interest in social and economic issues.

Before moving to Canada, Sofía studied economics for one year at a university in El Salvador. Seeking new challenges and perspectives, she relocated to continue her studies. Through her academic work, she aims to better understand global challenges and contribute to solutions that support both economic development and environmental sustainability.

References

Carbon Brief. (2024). UN report: Five charts that explain the gap in finance for climate adaptation. https://www.carbonbrief.org/un-report-five-charts-which-explain-the-gap-in-finance-for-climate-adaptation/

Canales, N., & Savvidou, G. (2023, February 11). Developing countries require hundreds of billions of dollars in investment every year to help them adapt to the rising threat of climate change [Guest post]. https://www.carbonbrief.org/guest-post-three-major-gaps-in-climate-adaptation-finance-for-developing-countries/

Garschagen, M. (2022). Does funds-based adaptation finance reach the most vulnerable countries? Global Environmental Change, 73, Article 102450. https://doi.org/10.1016/j.gloenvcha.2021.102450

Intergovernmental Panel on Climate Change (IPCC). (2022). Climate change 2022: Impacts, adaptation and vulnerability. Contribution of Working Group II to the Sixth Assessment Report of the IPCC. Cambridge University Press. https://www.ipcc.ch/report/ar6/wg2/

Jodoin, S. (2023, November 28). Guest post: Three major gaps in climate adaptation finance for developing countries. Carbon Brief. https://www.carbonbrief.org/guest-post-three-major-gaps-in-climate-adaptation-finance-for-developing-countries/

Moody’s Analytics. (2024). Global climate finance gap: Key insights for COP29. https://www.moodys.com/web/en/us/insights/data-stories/global-climate-finance-gap-cop29.html

Organisation for Economic Co-operation and Development. (2023). Scaling up adaptation finance in developing countries. https://www.oecd.org/content/dam/oecd/en/publications/reports/2023/11/scaling-up-adaptation-finance-in-developing-countries_4f4b0a0a/b0878862-en.pdf

Stockholm Environment Institute (SEI). (2024). UNEP’s Adaptation Gap Report 2024: Key findings. https://www.sei.org/publications/uneps-adaptation-gap-report-2025/

United Nations Development Programme. (2023). Scaling up adaptation finance in developing countries. UNDP Climate Promise. https://climatepromise.undp.org/news-and-stories/four-key-elements-shaping-future-adaptation-finance

United Nations Development Programme. (2025). Four key elements shaping the future of adaptation finance. UNDP Climate Promise. https://climatepromise.undp.org/news-and-stories/four-key-elements-shaping-future-adaptation-finance

United Nations Environnent Programme. (2023). Adaptation gap report 2023: Underfinanced. Underprepared—Inadequate investment and planning on climate adaptation leaves the world exposed. https://www.unep.org/adaptation-gap-report-2023

United Nations Environment Programme. (2025). Adaptation gap report 2025: Running on empty—The world is gearing up for climate resilience without the money to get there. https://www.unep.org/resources/adaptation-gap-report-2025

Cover image with title: Perspectives on the economics of Climate Change. Special Issue, March 2026, Online ISSN: 2819-7046. Background image taken by Peter Tsigaris of the University of Auckland campus.

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Published

2026-03-17

How to Cite

Molina González, N., & Cartagena, S. (2026). Financing Adaptation in Vulnerable Nations: Who Pays?. Future Earth: A Student Journal on Sustainability and Environment. https://doi.org/10.29173/bcelnfe779

Issue

2026: Special Issue: Perspectives on the Economics of Climate Change

Section

Commentaries and Opinions

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