A new briefing from the Taskforce on Net Zero Policy says governments need to make climate resilience easier for businesses and investors to fund, rather than responding after disasters happen.
Climate risks such as wildfires, extreme heat, floods and droughts are already damaging infrastructure, supply chains, businesses and communities.
As its stands, drought, land degradation and desertification affect more than 3 billion people and are estimated to cost the global economy around $878bn (£660 billion) a year. This is about 21% higher than the amount governments have explicitly spent subsidising fossil fuels.
The report argues that resilience should become part of economic policy, financial regulation, business planning and investment decisions.
It also says that governments also need to turn broad adaptation strategies into actual projects with clear costs, responsibilities and funding plans so they can attract private investment.
Its overall message is that resilience needs to become investable before disasters happen, rather than relying on expensive recovery afterwards.
