New Development bank (NDB) said there is a need to scale up global climate funding.
The bank provides about 10% of finance towards climate change.
It aims to increase this to 40% by 2026.
Speaking at a side event, at COP30 in Belem, Brazil, Dr. Rajiv Ranjan, Vice President and Chief Risk Officer at the NDB, said adaptation is a strategic investment.
He referred to a World Resources Institute (WRI) study, which highlighted that every dollar invested in climate adaptation yields over $10 in benefits.
Annual returns are between 20% and 27% and over 40% in forestry and nature-based investments.
The aim of the event was to identify real challenges and opportunities for adaptation, scale up climate-resilient infrastructure and nature-based solutions.