Adaptation Finance and the EU Taxonomy

The paper at hand was written within the context of the research project “Climate resilience in Europe”, funded by the Federal German Environment Agency (UBA). The main goal of the project is to connect researchers and practitioners working on the topic of climate resilient infrastructures across Europe. The project has three sub-topics, one of them being adaptation finance – in particular an analysis of the current design of the EU Taxonomy as a tool for advancing adaptation actions in Europe.

This paper serves a variety of purposes: it summarises the current state of the Taxonomy and the next steps for its implementation; it features a critical analysis of the adaptation component of the Taxonomy – in the context of the current discussion on adaptation finance –; and it proposes ways of optimising the treatment of adaptation issues within the Taxonomy, highlighting also how to include infrastructure operators along the way. The paper addresses all individuals and organisations who are keen to contribute to how adaptation is being framed as a topic within the Taxonomy. The long-term goal of the project team is to unite a committed group of individuals from science and practice to network and draft suggestions on how to amend, interpret and/or implement the Taxonomy with respect to the topic of adaptation.