Climate change impacts globally have increased the urgency for ambitious action on adaptation. This is especially the case in the world’s most vulnerable regions, including Africa. This report covers global status and trends of adaptation finance and provides a deeper analysis of Africa at a regional level, given the heightened adaptation needs and opportunities on the continent. Across the globe, and especially in Africa, climate smart and resilient development pathways offer enormous investment opportunities with a triple dividend of avoided losses, positive economic gains, and enhanced social and environmental benefits.