Overview
- UNEP reports international public finance for adaptation to developing countries fell to about $26 billion in 2023, while needs are projected at roughly $310–365 billion a year by 2035.
- The 2021 pledge by wealthy nations to double adaptation finance to about $40 billion by 2025 is off track, with flows declining from $28 billion in 2022 to $26 billion in 2023.
- About 58% of adaptation finance currently comes as debt instruments, prompting warnings over affordability and the risk of an adaptation investment trap for vulnerable states.
- Brazil’s COP30 president says he will seek a resource package drawing from rich-country contributions, philanthropy and multilateral development banks, alongside a Baku‑to‑Belém roadmap to scale climate finance.
- UN Secretary‑General António Guterres calls the report a red alert and urges faster, simpler public finance, more private investment, and measures that do not increase debt burdens.