安联（Allianz）：2026从无形到可投资：气候适应的投资分类法研究报告（英文版）（32页）.pdf

1、Allianz ResearchFrom invisible to investible:An investment taxonomy 09 April 2026for climate adaptationAllianz Research2Content Page 3-4 Executive SummaryPage 15-17 Challenges and policy landscape of climate adaptation Page 18-23 Defining a taxonomy for climate adaptationPage 5-8 Current climate los

2、ses,protection gaps and rising future exposure Page 24-26 Public and private investment cases in climate adaptationPage 27-28 AppendixPage 9-15 Europes climate-adaptation deficit:rising losses,lagging investment09 APRIL 20263SummaryExecutiveHazem KricheneSenior Economist,C Exposure to climate risk i

3、s rising sharply but unevenly across hazards and regions.Global warming continues to accelerate,with 2025 the third-warmest year on record,reinforcing warnings that the+1.5C threshold could be reached as early as 2030.As a consequence,global natural catastrophe losses have risen roughly fourteen-fol

4、d since 1970,reflecting intensifying hazards and rising exposure as urbanization,asset concentration and populations expand in risk-prone areas.Risk is increasing unevenly across hazards and regions:flood exposure is rising fastest in Southeast Asia,the Middle East and North Africa;wildfire exposure

5、 has grown markedly in North America;heat stress is expanding across Africa and Asia and drought risk remains concentrated in already water-stressed regions.The sharp increase in uninsured losses poses a growing risk to public finances and adaptation spending should triple to be commensurate with th

6、e needs.While the share of uninsured losses has remained broadly stable,their absolute scale has increased sharply as climate damages rise,leaving a growing volume of losses unprotected and hundreds of millions without effective financial coverage.Protection gaps exceed 80%in several major economies