By 2035, countries will need $305 billion a year for climate adaptation, while funding grows slowly

According to a new UNEP report, global warming is projected to exceed the critical threshold of 1.5 degrees Celsius, yet the world is not prepared for such changes. The scale of potential losses and damage is growing, while the funds allocated for adaptation remain significantly below the required amounts.

Insufficient financing and risks for developing countries

UN Secretary-General António Guterres stressed that developing countries receive only a small share of the necessary financing. According to him, "for every dollar developing countries need for adaptation, they receive only 10 cents."

The report's authors estimate that by 2035, developing countries' annual financing needs for adaptation measures will be about 305 billion dollars. At the same time, the growth of international public financing from developed countries is slowing, reaching between 28.2 and 31.7 billion dollars in 2024, just 1 billion more than a year earlier.

Demands on the international community

UNEP Executive Director Inger Andersen noted that the world as a whole is not prepared for current climate conditions, let alone the consequences of exceeding the 1.5 degrees Celsius threshold. According to her, at the upcoming UN Climate Conference (COP31) in Turkey, countries need to focus on stepping up efforts to triple adaptation financing by 2035, a goal agreed at COP30.

• Rising climate risks threaten human lives and livelihoods
• International financing is growing extremely slowly relative to countries' needs

Context

The report was published by the UN Environment Programme (UNEP), which addresses environmental issues at the global level. António Guterres is the UN Secretary-General.