Increasing the competitiveness of climate-vulnerable groups to attract outside investment has become an organizing principle of adaptation measures and marks a culmination of decades of neoliberal reforms. Here, I draw attention to the ways that neoliberalism as a ‘governing rationality’ operates through norms and practices of competition and investment that shape people, places and institutions at multiple scales of climate change adaptation and finance. Yet, they pay insufficient attention to recipients and their practices - specifically, how developing countries and their constituents respond to market pressures to make themselves attractive to funders. Meanwhile, many other countries in Asia and elsewhere receive comparatively little funding (Weikmans, 2015).Įxisting studies of overseas development aid focus on funding bodies, highlighting dynamics like herding, international relations, and soft-power geopolitical manoeuvring to explain preferential lending to some countries over others (Davies and Klasen, 2019 Olivié, 2011 Weiler et al., 2018). ![]() Emblematic of this trend, Vietnam received over US$ 2.5 billion of climate finance in both 20, predominantly from multilateral development banks and bilateral aid agencies, making it the third largest recipient of climate aid during this period (Timperley, 2018). However, general appeals to mobilize more adaptation funding elides the fact of its highly asymmetrical distribution. ![]() Calls to mobilize greater adaptation finance have become increasingly strident and widespread, growing in tandem with the awareness that the populations that contributed the least to climate change are the most vulnerable to its impacts. ![]() True to the Report's name, the authors highlight a worrying shortfall in such finance, be it from public, private or international sources. In the ‘Adaptation Gap Report 2021’, the United Nations Environment Programme (UNEP) estimates that developing countries require US$ 70 billion annually to fund climate change adaptation, and this figure is expected to rise to between US$ 140 and US$ 300 billion by 2030 (UNEP, 2021).
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