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UN report shows climate adaptation finance rises to $28 billion but gap remains large

economictimes.indiatimes.com — November 7, 2024, 01:01 PM UTC

International funding for climate change adaptation in developing countries rose to $28 billion in 2022, up from $22 billion in 2021. Despite this increase, a significant funding gap remains, estimated between $187 billion and $359 billion annually.

The UN report emphasizes that even meeting the Glasgow Climate Pact goals would only slightly reduce this gap. Developed nations are urged to double their adaptation funding by 2025, as reiterated at the recent climate summit in Dubai.

The report also highlights that while many countries have established adaptation policies, the current financing approach is insufficient. It calls for a shift towards more strategic and anticipatory funding to effectively address climate change impacts.

Article metrics
Significance5.6
Scale & Impact6.0
Positivity5.1
Credibility8.5
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