An economist specialising in climate adaptation says New Zealand must be innovative about handling the costs of climate change

The Climate Change Commission is warning in a first monitoring report that this country isn't moving at the pace or scale needed.

It calls on the Government to empower local councils to figure out a way to share the costs of adaptation.

Lincoln University professor Anita Wreford says private investment could help share the burden with central and local government.

She says the sooner plans and changes are made the less it will cost.