International equity/distributive justice (a fair share for each recipient country) and global efficiency (biggest global bang for the buck) provided the bang in question is well defined for all the relevant activities are both legitimate resource allocation objectives that need to be addressed.
Generally, efficiency and equity cannot be achieved simultaneously through a single allocation which is why the proposed way forward is to deal with the two objectives in separate allocations, whereby each funding envelope is divided into two (not necessarily equal) sub-envelopes: one guided purely by efficiency, and the other purely by equity considerations. The exact nature of the allocation methods in the two sub-envelopes and their relative size will depend on the funding theme.
This Submission focuses on the allocation of adaptation resources in the context of taking account of recipient country needs. While it is possible to estimate adaptation funding needs of countries, it is not straightforward, if at all possible, to compare adaptation activities with respect to their cost-effectiveness: there is no globally comparable 'bang' in this context. This is why adaptation resources should be allocated principally in proportion to adaptation funding needs (in conjunction with the basic floor allocations)