Europe's development bank will double climate-adaptation finance to €30 billion (about $33.6 billion) — because every euro of prevention saves ten in repairs

The European Investment Bank says it will invest at least €30 billion (about $33.6 billion) before the end of the decade in helping societies adapt to a changing climate — double its previous five-year target. The money, announced ahead of November's COP31 talks in Türkiye, will back heatwave, drought, wildfire and flood resilience across energy networks, water systems and agriculture, plus early-warning systems, coastal protection and disaster-risk planning, with stepped-up support for climate-vulnerable small island and least-developed countries. 'Every euro invested in prevention and adaptation to climate change saves ten euros in damages and repairs,' said EIB Group President Nadia Calviño.

SDG 13 · Climate action — Mechanism: funding & finance