This study aims to determine the extent to which recipient countries' climate vulnerability influences the allocation of climate adaptation finance in development cooperation (climate development finance). To analyze the extent to which climate vulnerability affects the allocation of climate change adaptation finance by six of the top donors of climate cooperation among OECD/DAC members, Korea, the United States, Japan, Germany, France, and Sweden, we used three different climate vulnerability indicators (INFORM, WRI, and ND), enhancing the reliability of the results. To explore the determinants of climate adaptation resource allocation by the six donors for 115 recipient countries, we used a panel standard error correction (PCSE) model, allowing for more efficient estimation by taking into account both within-panel correlation and between-panel heteroscedasticity when the covariance matrix assumption is violated. Each of the three indicators yielded slightly different results, with Sweden being the only country to be significantly affected by all three indicators. Japan showed statistically significant relationships with INFORM and WRI, South Korea and Germany with ND and WRI, respectively, while the United States and France were not affected by any of the indicators. For the factors related to co-committed donor interests, recipient country needs, and aid effectiveness, there were some differences, but in general, we found similarities with donors' development finance alloc