My thesis explores three interconnected areas related to climate change: vulnerability, the equitable distribution of adaptation resources, and resilience building. In the first two chapters, I examine the flow of funding from international climate organizations to municipalities in Central America and the Caribbean. I explore the role that clientelism plays in the allocationof adaptation funds at the municipal level and assess whether the most vulnerable communities are receiving the funds they need. In my third chapter, I evaluate which types of social vulnerabilities, experiences, and interventions predict impacts and recovery from hurricanes. Overall, I find that political clientelism diverts funds away from truly vulnerable areas, that subnational targeting needs to incorporate more comprehensive and intersectional approaches to climate vulnerability, and that even under favorable conditions, resilience building remains elusive for disaster-prone communities.