Using a dedicated adaptation financing process to close subnational adaptation finance gaps in Europe

There is a large finance gap between what countries and regions need for climate change adaptation and what is being supplied. Meeting regional adaptation needs is likely to require significant reform to subnational financing arrangements. In this context, institutions are developing new approaches, but these remain underexplored in the literature. In the mainstream climate finance discourse, the development of Adaptation Investment Planning (AIP) processes is emerging as a key focus for national governments – with methods emerging to translate high level ambitions into programmatic sets of bankable projects. Yet despite the importance of subnational governments in implementing adaptation, there has been little attention given to developing similar approaches at this level.