The cost of adapting to climate change is set to rise and is being hidden from the general public in rich countries, says a report from the New Economics Foundation (NEF). "Poor countries, who will suffer the impacts of climate change first and worst, are being fatally short changed, as industrialised nations abdicate responsibility for a problem they are overwhelmingly responsible for creating," says 'Cast Adrift', released this week.

The NEF says rich nations currently spend $73 billion every year subsiding industry that fuels climate change. This amount should be matched with funding to assist poor countries adapt to the impacts of climate change, says NEF.

"Given rich nations historical responsibility for global warming, and the resources at their disposal, at the very least the funds available for adaptation to the majority world should be raised substantially." But rich countries have currently committed $0.41 billion in additional funds to help poor countries adapt to the problem.