Finance

Climate Adaptation Should Be a Public Good, Not an Asset Class

The poorest developing countries either have limited access to capital markets, or pay a hefty premium to do so. 

Photographer: Christopher Furlong/Getty Images

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In the run up to the 2020 U.S. election, a meme started making the rounds on Twitter. “Transport is climate policy,” someone would tweet above an article about subway improvement. “Childcare is climate policy,” they’d say about a paid maternity leave proposal. The quip applied to almost everything—even voting by mail.