Note(s): Table 1 reports region- and year-fixed-effects regressions for MEAN OF HII and RLI observed at t+1. The one-year lead establishes temporal ordering but does not identify the biological adjustment period. Longer-horizon timing diagnostics are reported in Figure A8 of the Online Appendix. MEAN OF HII is the logarithm of the mean Human Influence Index, and RLI is the logarithm of the Red List Index. CF adaptation and CF mitigation denote country-year climate adaptation and mitigation finance, respectively, defined in Section 3.2.2 and expressed in logarithmic form. Control variables are also in logarithms, with definitions provided in Section 3.1.3. Robust standard errors clustered at the country and year levels are reported in parentheses. ***p < 0.01, **p < 0.05, *p < 0.1