Challenges 
remain for green bonds and similar products, in particular around 
integrity and additionality, as well as the limited applicability of 
these markets to many developing countries (high confidence). 
{WGII SPM C.3.2, WGII SPM C.5.4; WGIII SPM B.5.4, WGIII SPM E.5.1} 
Current global ﬁnancial ﬂows for adaptation including from public 
and private ﬁnance sources, are insufﬁcient for and constrain 
implementation of adaptation options, especially in developing 
countries (high conﬁdence). There are widening disparities between 
the estimated costs of adaptation and the documented ﬁnance 
allocated to adaptation (high conﬁdence). Adaptation ﬁnance 
needs are estimated to be higher than those assessed in AR5, and 
the enhanced mobilisation of and access to ﬁnancial resources are 
essential for implementation of adaptation and to reduce adaptation 
gaps (high conﬁdence). Annual ﬁnance ﬂows targeting adaptation for 
Africa, for example, are billions of USD less than the lowest adaptation 
cost estimates for near-term climate change (high conﬁdence). Adverse 
climate impacts can further reduce the availability of ﬁnancial resources 
by causing losses and damages and impeding national economic 
growth, thereby further increasing ﬁnancial constraints for adaptation 
particularly for developing countries and LDCs (medium conﬁdence). 
{WGII SPM C.1.2, WGII SPM C.3.2, WGII SPM C.5.4, WGII TS.D.1.6} 
Without effective mitigation and adaptation, losses and damages will 
continue to disproportionately affect the poorest and most vulnerable 
populations. Accelerated ﬁnancial support for developing countries 
from developed countries and other sources is a critical enabler to 
enhance mitigation action {WGIII SPM. E.5.3}. Many developing 
countries lack comprehensive data at the scale needed and lack adequate 
ﬁnancial resources needed for adaptation for reducing associated 
economic and non-economic losses and damages.