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UN report highlights $331 billion climate adaptation funding gap for developing nations

dawn.com — November 7, 2024, 08:01 PM UTC

A UN report reveals a significant funding gap for climate adaptation in developing countries. They need $359 billion annually, but received only $28 billion in 2022, despite the largest increase since the 2015 Paris Agreement.

Countries will discuss climate finance at COP29 in Azerbaijan from November 11 to 22. The focus will be on how much developed nations will contribute to help vulnerable countries cope with climate impacts, amid extreme weather events.

While 171 countries have adaptation plans, their effectiveness varies. Some fragile states lack any strategy. A separate report indicates the world may exceed its climate goal of limiting warming to 1.5 degrees Celsius.

Article metrics
Significance5.2
Scale & Impact5.7
Positivity4.5
Credibility8.5
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