Multilateral Banks Invest $42.2B in Health and Climate, But Adaptation Lags

According to a report by the Asian Infrastructure Investment Bank (AIIB) released on November 16th, 2025, multilateral development banks have invested a total of $42.2 billion in health and climate initiatives between 2019 and 2023. However, the report found that only $3.7 billion of this funding has been directed towards climate adaptation efforts.

The report, titled "Protecting Our Future: An Investment Framework for Quantifying the Climate Adaptation Benefits of Health and Immunisation Investments", proposes a framework to help funders and governments identify health sector investments that can simultaneously address both health and climate objectives. It highlights that investments in strengthening healthcare infrastructure, early warning systems, and immunization programs can provide significant climate adaptation benefits, with up to $36.50 of every $100 invested going towards addressing the additional disease burden caused by climate change.

Despite the growing need to build health resilience among vulnerable populations, the report notes that less than 0.5% of global climate finance currently supports human health interventions, leaving a critical gap in adaptation strategies. In the case of Pakistan, the report found that the country has allocated 74% of its climate finance towards mitigation efforts, while only 26% ($1.37 billion) has been directed towards adaptation activities between 2019 and 2021.

The report's findings underscore the urgent need for multilateral development banks and national governments to prioritize investments that can bolster the health sector's ability to withstand the escalating impacts of climate change, particularly in countries like Pakistan that are facing growing exposure to extreme weather events and their associated health risks.