Overview
- Wealthy nations' 2021 pledge to double public adaptation finance to roughly $40 billion by 2025 is off track, with flows falling from $28 billion in 2022 to $26 billion in 2023.
- UNEP projects developing countries will require more than $310 billion annually for adaptation by 2035, far beyond current funding levels.
- UNEP chief Inger Andersen says the downward trend in adaptation finance seems unlikely to reverse and urges more support that does not add to debt loads.
- The report estimates private investment potential at about $50 billion a year versus roughly $5 billion today, contingent on strong policy and public de-risking.
- UN officials and advocates cite squeezed donor budgets and U.S. policy shifts as factors in the shortfall, while COP30 leaders say adaptation will take centre stage at the Brazil talks starting November 10.