Climate cash pivots to new reality of a hotter, wetter planet

illuminem summarizes for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:

🗞️ Driving the news: With mitigation efforts falling short, significant funding is now directed towards adapting to climate change's impacts, such as flooding and extreme heat
• Government and private investments are increasing to bolster infrastructure against severe weather

🔭 The context: Historically, most climate funding has focused on reducing fossil fuel use and lowering carbon dioxide levels
• Adaptation, previously underfunded, is now gaining attention due to the urgent need to address immediate climate challenges

🌍 Why it matters for the planet: Adaptation measures, like flood barriers and infrastructure reinforcements, are essential to protect communities from the worsening effects of climate change, including rising sea levels and more frequent storms

⏭️ What's next: The U.S. government is expediting climate funding allocations to show progress before upcoming elections
• Future administration changes could impact the pace and continuation of these climate adaptation efforts

💬 One quote: “Adaptation has been the unpopular kid at the party for a long time. That is starting to change.” – Jay Koh, managing director at the Lightsmith Group

📈 One stat: Funds aimed at addressing climate change effects recently accounted for about 5% of the roughly $1.3 trillion spent annually on all climate efforts

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