What factors shape individuals' decisions to stay or migrate in the presence of climate change? We study how the relationship between different types of climate events and migration is moderated by individual and household characteristics pertaining to the adaptive capacity of affected individuals. Empirically, we employ survey data from five developing countries (Cambodia, Nicaragua, Peru, Uganda, and Vietnam) that include both migrants and non-migrants. The empirical results caution against sweeping predictions that future climate-relate events will be accompanied by widespread migration. Rather, the findings provide indicative evidence for immobility on the part of certain groups: less-educated and poor individuals are less likely to mig...