Translations:Paris Agreement/62/en

Though both mitigation and adaptation require increased climate financing, adaptation has typically received lower levels of support and has mobilized less action from the private sector. A report by the OECD found that 16% of global climate finance was directed toward climate adaptation in 2013–2014, compared to 77% for mitigation. The Paris Agreement called for a balance of climate finance between adaptation and mitigation, and specifically increasing adaptation support for parties most vulnerable to the effects of climate change, including Least developed countries and Small Island Developing States. The agreement also reminds parties of the importance of public grants, because adaptation measures receive less investment from the public sector.