UN Warns Global Climate Adaptation Efforts Fall Behind Rising Risks
(MENAFN) Global efforts to prepare for increasingly severe climate impacts remain insufficient, while developing nations are struggling with widening financial shortages and mounting climate-related damage, the United Nations Environment Programme (UNEP) warned Wednesday.
According to its Adaptation Gap Report 2026, international public financing allocated to climate adaptation in developing countries rose by only $1 billion between 2023 and 2024, reaching an estimated $28.2 billion to $31.7 billion last year.
The report projected that developing economies would require approximately $305 billion annually by 2035 to respond effectively to growing climate threats.
It further warned that even if governments fulfill the COP30 ambition of tripling international public funding for adaptation by 2035, available resources would still meet only 20% to 29% of the estimated financial requirements.
"The world is not ready to adapt to current climatic conditions, never mind what overshoot of 1.5°C will bring," UNEP Executive Director Inger Andersen said.
Andersen called on governments preparing to participate in COP31 in Türkiye to substantially increase financial assistance, stressing that existing commitments would not be enough to shield communities and economies from the consequences of climate change.
Climate Damage Exceeds Available Financial Support
The assessment also pointed to an expanding imbalance between financial assistance requested by vulnerable countries and the resources currently available to address climate-related loss and damage.
According to its Adaptation Gap Report 2026, international public financing allocated to climate adaptation in developing countries rose by only $1 billion between 2023 and 2024, reaching an estimated $28.2 billion to $31.7 billion last year.
The report projected that developing economies would require approximately $305 billion annually by 2035 to respond effectively to growing climate threats.
It further warned that even if governments fulfill the COP30 ambition of tripling international public funding for adaptation by 2035, available resources would still meet only 20% to 29% of the estimated financial requirements.
"The world is not ready to adapt to current climatic conditions, never mind what overshoot of 1.5°C will bring," UNEP Executive Director Inger Andersen said.
Andersen called on governments preparing to participate in COP31 in Türkiye to substantially increase financial assistance, stressing that existing commitments would not be enough to shield communities and economies from the consequences of climate change.
Climate Damage Exceeds Available Financial Support
The assessment also pointed to an expanding imbalance between financial assistance requested by vulnerable countries and the resources currently available to address climate-related loss and damage.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment