Inaction on climate change could lead to a continued rise in global temperatures by 2100 ranging from 2.5°C to 7.5°C above pre-industrial levels (IPCC, 2014a). This would increase the severity - and in some cases the frequency - of extreme weather events, with potentially catastrophic consequences for stable economic development, human life and prosperity. Doing nothing could be costly, equating to a permanent loss of over 14% in average world consumption per capita (OECD, 2012). Developing countries stand to be disproportionately affected by unabated climate change, eroding development gains made to date (IPCC, 2014a). Assessments suggest that a sizeable share of development assistance activities might be affected by climate risk, with estimates ranging from 10% to 40% per country depending on the development co-operation portfolio in each country context, when measured as a share of total official development assistance (ODA) (OECD, 2005).