Adaptation financing mechanisms for action at the local and regional levels

European cities and regions are increasingly suffering the effects of disruptive heatwaves, droughts, floods, wildfires and other extreme weather phenomena. Economic losses from such events affect public finances, insurers, investors and financial markets, as well as the wider economy. Low-income households are likely to suffer more from climate change due to tighter financial constraints that limit their adaptive capacities, putting the social and economic cohesion of the EU at risk. While local and regional authorities (LRAs) are frontrunners

Source: op.europa.eu