1、15 April 2025Allianz ResearchRethinking climate adaptation for global resilience Allianz Research2Content Page 3-4 Executive SummaryPage 5-8 Weighing the costs of non-adaptationPage 9-16 The growing financial burden of climate disasters in high-income nations Page 17-20 The disproportionate burden o

2、f climate disasters on developing economiesPage 21-23 Adaptation finance is lagging behind mitigation finance Page 24-33 Strengthening climate adaptation for a resilient future15 April 2025Reducing carbon emissions will not be enough on its own.According to newly released projections from the NGFS,e

3、ven under a net-zero transition scenario,global GDP is expected to shrink by 8%compared to a baseline without climate change,an economic toll more severe than previously estimated.The latest estimates(Phase 5)show that the net-zero pathway would lead to an additional 6%GDP decline compared to Phase

4、4 projections,resulting in USD1.24trn in extra global economic losses by 2050.In Europe,for example,under the most ambition transition scenario,cumulative flood-related damages could reduce household disposable income by approximately USD107,000,with disproportionate effects across countries.Develop

5、ing economies face a significantly higher toll from extreme weather events,both in human and economic terms.While 71%of reported disasters occurred in developed countries,91%of fatalities were in developing nations due to weak infrastructure and limited early-warning systems.Least Developed Countrie

6、s(LDCs)and Small Island Developing States(SIDS)have experienced severe financial devastation due to climate change,with some disasters wiping out over 100%of GDP.These losses underscore the growing risks of climate impacts and highlight the urgent need for adaptation measures alongside mitigation ef