Climate Adaptation Investment Planning: Lessons Learned

Julie Dekens (IISD); ADB Consultants: Paul Watkiss, John Ward, Robert Wilby, Nand Agrawal, Rathana Peou, David Manukyan, Michael Alan Schur, Nur Kholis, Vardan Melikyan, Batkhuyag Choijiljav, Munkhzul Chimid-Ochir, Siveun Nhak, Choikhand Janchivlamdan, Sonam Wangdi; Abid Hussain [International Centre for Integrated Mountain Development (ICIMOD)]; and ADB staff: Arghya Sinha Roy, Nanki Kaur, Natasha Kuruppu, Kyla May Matias, Vardan Karapetyan, Arun Shumshere Rana, Putra Dwitama, Enkh-Amgalan Tseelei, Thavin So

Publication date: May 05, 2026

This report explores how developing countries can translate their climate change adaptation goals into investment-ready programs that incorporate public and private financing, generate strong economic returns, and help drive development benefits.

It draws on the initial results of the five-step Climate Adaptation Investment Planning (CAIP) framework that was piloted in Armenia, Bhutan, Cambodia, Indonesia, Mongolia, and Nepal from 2022 to 2025. With early results showing positive economic returns, it suggests countries take a focused and iterative approach, address multiple risks at a system level, and build human and institutional capacity to help better manage current and future climate impacts.

Publisher: Asian Development Bank