UNEP: Climate adaptation funding falls short for developing nations
UN Environment Programme warns climate adaptation funding is far below what developing countries need as global warming surpasses 1.5°C.
Key Takeaways
AIThe United Nations Environment Programme has stated that funding allocated to help communities adapt to climate change remains well below actual needs, even as global warming is set to exceed 1.5 degrees Celsius above pre-industrial levels.
In a new report released yesterday, according to the UN News website, the programme indicated that developing countries will require around $305 billion annually by 2035 to build resilience and reduce risks associated with climate change.
The report was published ahead of the United Nations Climate Change Conference (COP31), which begins next week in Antalya, Turkey.
The report noted that international public financial flows for adaptation reached between $28.2 billion and $31.7 billion in 2024, an increase of just $1 billion from the previous year.