At present, climate financing for ocean adaptation is inadequate and does not reflect the level of severity or harm that climate change is posing to ocean resources and human communities.
Less than 2% of international climate adaptation funding is flowing towards ocean and coastal adaptation projects. Only 1.6% of official development assistance supports the ocean economy. SDG 14 is the least funded of the UN Sustainable Development Goals. Internationally, approximately 70% of the knowledge generated about ocean acidification comes from research conducted in North American and European countries.
Incorporating ocean priorities across climate adaptation financing mechanisms will inform a broad range coastal adaptation strategies