Author Ajay Bhushan Pandey called on governments to treat climate change adaptation funding and resilience as a financial and economic necessity, not an additional burden on public budgets, warning that the cost of failing to take preventive action will be greater than the cost of early investment.
And in an article published by Turkey Today on November 7, 2026, in conjunction with the preparations for the United Nations Climate Conference COP31 in the Turkish city of Antalya, Pandey said that the discussion should focus not only on the ability of public budgets to absorb climate spending, but also on their ability to bear the increased costs resulting from the continued lack of action.
And he pointed out that the effects of climate change have become directly reflected on the financial accounts of governments, through high health expenditures, declining production, and the disruption of infrastructure and basic services, as well as increasing financing costs, stressing that governments find themselves forced to bear the cost of damage and restart facilities and services when disasters occur.
And he added that the recent climate phenomena, along with the effects of the El Niño phenomenon, provide clear indications of the magnitude of the unrest facing societies, warning that these repercussions may worsen in the coming years and decades, as climate risks overlap with existing vulnerabilities in economies and infrastructure.
From climate plans to investments
And the writer stressed the need to move from the stage of preparing climate strategies to the implementation of bankable projects included in the capital budgets of countries, considering that the plans alone do not represent an achievement unless they are transformed into investments that protect infrastructure and ensure the continuation of basic services.
And he pointed out that government funding alone is not enough to cover the size of the needs, citing estimates by the United Nations Environment Program that indicate the need for developing countries to about $ 365 billion annually to finance climate adaptation measures by 2035.
The role of private finance and international institutions
Pandey stressed the importance of involving the private sector in financing climate adaptation projects, noting the role that multilateral development banks can play in reducing the gap between public and private financing, by providing various financing tools, sharing risks, and mobilizing private capital to support climate-resilient infrastructure projects.
And he explained that the role of these institutions is not limited to providing financing, but includes assisting ministries of finance in preparing climate policies, linking financing to performance indicators, and ensuring coordination between national plans, budgets and investment projects.
And the success of COP31 requires the commitment of governments and the private sector to transform climate strategies into concrete actions and investments, warning that postponing spending on confronting climate change will lead to greater financial burdens in the future, and stressing that financing climate action is a necessity to maintain financial and economic stability.
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