Investment in infrastructure or management practices in some sectors will potentially increase greenhouse gas emissions (referred to here as mitigation-relevant sectors) and the effectiveness of climate finance to advance mitigation will in part depend upon how well it influences these larger sectoral trends of both public and private financial flows. Similarly for adaptation, how climate finance affects the overall risk and vulnerability to climate across the economy will be important and will depend on to what extent new investments take climate change risk into account. Some analysts, for example, have demonstrated the potentially high exposure of development co-operation portfolios to future climate change underscoring the need for attention to climate change in development planning (OECD, 2005; AGF, 2010a).