A new report from the McKinsey Global Institute highlights that heat, rather than floods, poses a greater threat to a larger population and requires more significant adaptation investment. The report estimates that current global adaptation spending of $190 billion annually protects only a fraction of the 4.1 billion people exposed to climate hazards, with heat stress affecting an additional 2.2 billion people by 2050. Extending protection to all exposed individuals would cost $540 billion annually, with nearly 60% dedicated to heat adaptation, and private actors are expected to bear over half of these costs. AI
RANK_REASON Report from a research institute on climate adaptation strategies. [lever_c_demoted from research: ic=1 ai=0.1]
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