Only $3.7 billion of health-climate funds spent on adaptation: AIIB
A recent report by the Asian Infrastructure Investment Bank (AIIB) highlights a concerning disparity in the allocation of health-climate funds. While major multilateral development banks have invested a substantial $42.2 billion in health and climate initiatives over the past five years, a staggering $3.7 billion has been directed towards adaptation measures. This disparity is even more alarming when considering the potential for health-sector investments to provide significant climate adaptation benefits.
The report, titled "Protecting Our Future: An Investment Framework for Quantifying the Climate Adaptation Benefits of Health and Immunisation Investments," introduces a novel quantitative framework. This framework empowers key funders and national governments to identify and prioritize health sector investments that simultaneously address both health and climate objectives. These investments include strengthening healthcare infrastructure, enhancing early warning and health surveillance systems, improving vaccine delivery and cold-chain systems, and bolstering immunisation and disease-outbreak preparedness.
Despite the urgent need to build health resilience among vulnerable populations facing escalating climate-driven threats, the report reveals a critical gap in adaptation strategies. Only 0.5 per cent of global climate finance currently supports human health interventions. This means that while major funders have invested billions in health and climate initiatives, the majority of these funds have not been directed towards adaptation measures, which are crucial for vulnerable communities.
The report also examined six highly vulnerable countries: Pakistan, Bangladesh, Ethiopia, Malawi, Nigeria, and the Philippines. It found that the share of funding for health programmes with climate adaptation objectives has increased in these countries in recent years. However, Pakistan's climate finance landscape is particularly complex.
In Pakistan, the report notes that growing exposure to extreme climate events, such as floods, droughts, and heatwaves, has contributed to an increase in climate finance. Estimates place the total amount of development finance targeting climate change from 2019 to 2021 at $5.4 billion. During this period, the majority (74 per cent) of the funding targeted mitigation efforts, while a quarter ($1.37 billion) went to adaptation activities. This allocation reflects the country's limited climate-finance provision, as pressing priorities like poverty eradication often take precedence over long-term domestic investments.
The most common climate-related health hazards in Pakistan stem from extreme heat, erratic rainfall patterns, landslides, and droughts. These extreme weather events have intensified and become more frequent in recent years, posing significant risks to public health. Flooding, in particular, is a major concern due to heavy rainfall and erratic monsoons, with communities along the Indus River being particularly susceptible to diseases like cholera and malaria.
