A higher level of adaptation finance is critical to enhance adaptation planning and implementation and reduce adaptation gaps, particularly in developing countries   . However, adaptation finance is not keeping pace with the rising adaptation costs in the context of increasing and accelerating climate change, as 'annual adaptation costs in developing countries alone are currently estimated to be in the range of US$70 billion, with the expectation of reaching US$140-300 billion in 2030 and US$280-500 billion in 2050' . Investment in attaining SDGs helps bridge adaptation gaps , but care needs to be taken to avoid maladaptation through mislabelling. Integration of the Indigenous and local knowledge systems is anticipated to reduce existing adaptation gaps and secure livelihood transitions.
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report