This publication describes the development and application of ICIMOD’s Poverty and Vulnerability Assessment (PVA), a household survey tool designed to capture key elements of poverty, vulnerability, and adaptive capacity in mountain contexts for the Hindu Kush Himalayan region. The tool combines general predictors of poverty with indicators that are particularly relevant in mountain contexts, where factors such as physical accessibility and a lack of access to basic facilities often exacerbate poverty and vulnerability to stresses such as those related to climate variability and change. The report argues that the PVA tool is particularly relevant in the context of development interventions aimed at building resilience and facilitating adaptation to climate variability and change. It argues that the PVA tool provides a vital foundation for the regular monitoring of poverty and vulnerability that will enable the success of development and adaptation interventions by governments and donors to be evaluated in a robust, empirically grounded manner.