The international financial support provided for adapting to the consequences of global warming is currently vastly insufficient, according to a new report released by the United Nations Environment Programme (UNEP) on Wednesday.
Developing nations require approximately $305 billion US dollars annually by 2035 to strengthen their resilience and reduce risks. This total excludes the costs of climate change incurred by the private sector. Despite this immense need, the international funds allocated for adaptation measures amounted to only $28.2 to $31.7 billion in 2024-a mere one billion dollar increase compared to the previous year.
Last year, at the 30th World Climate Conference, industrialized nations pledged to triple adaptation aid for developing countries by 2035. However, the UNEP report concludes that even with this pledged increase, the funds will only cover between 20% and 29% of what the poorest nations require to cope with the outcomes of climate change.
Inger Andersen, Executive Director of UNEP, stated, “The world is not yet ready to adapt to the current climatic conditions, let alone what exceeding the 1.5-degree threshold will bring.” She emphasized that states participating in the upcoming climate conference in Turkey must recognize that they need to take further action to save lives, mitigate losses and damages, and protect economies.
Access to climate adaptation funds plays a crucial role in negotiations at global climate summits to reach a worldwide agreement. Additionally, Germany had pledged €6 billion annually for climate financing in the Global South. However, this promise was broken in 2025, with only €4.7 billion being available.
