This document discusses adaptation finance. It begins by defining adaptation and adaptation finance, noting that adaptation finance is context specific, dynamic, and not solely about providing money. It then discusses accountability and transparency efforts through the Adaptation Finance Accountability Initiative. The document reviews estimates of needed adaptation finance amounts and whether current funding is on track. It analyzes adaptation finance flows in Nepal, Philippines, Uganda, and Zambia based on five principles of good delivery: transparency, ownership, responsiveness, participation, and equity. The analysis finds room for improvement in meeting all five principles. The document concludes by outlining next steps for in-depth tracking of adaptation finance in selected districts and funds in each country.