Climate Adaptation Efforts Must Be Significantly Stepped Up to Protect Vulnerable Populations
As climate impacts intensify and disproportionately affect the poorest populations, nations must significantly increase their climate adaptation efforts, starting with a concrete commitment to financing, according to the "The Adaptation Gap Report 2024: Come Hell and High Water" by UNEP (UN Environment Programme).
Developing countries, which are exposed to growing climate risks, are struggling to bridge the financing and adaptation gap, despite notable progress. It is imperative to intensify efforts and mobilize more resources to effectively respond to this threat.
International public financing flows for adaptation in developing countries increased from $22 billion in 2021 to $28 billion in 2022, recording the largest annual increase in absolute and relative terms since the Paris Agreement. This reflects progress towards the Glasgow Climate Pact, which urges developed countries to at least double adaptation financing for developing countries, from $19 billion (2019 levels) to 2025. However, even achieving this goal would only reduce the adaptation financing gap, estimated to be between $187 billion and $359 billion per year, by around 5%.
The report calls for an ambitious climate financing goal and strengthening adaptation in the next nationally determined contributions due in 2025. Bridging the financing gap requires innovative approaches, strengthening enabling factors, and shifting to strategic and transformative adaptation. It also highlights the importance of capacity building, technology transfer, and coordinating often dispersed and costly efforts.
