UN Report Highlights Climate Adaptation Finance Gap
Developing countries receive only a fraction of the international finance needed to adapt infrastructure for escalating climate impacts.
According to the UN Environment Programme (UNEP) adaptation gap report, developing nations require over $310bn annually between now and 2035 to prepare for climate change impacts.
- In 2023, developed nations provided just $26bn in international adaptation finance to developing nations.
- UNEP warns that current trends indicate developed nations will miss their goal of doubling 2019 international adaptation finance by 2025, agreed at the COP26 climate summit in Glasgow.
Developing countries need more than $310bn annually to prepare for climate change impacts.
Author's summary: Climate adaptation finance gap remains a significant issue.
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