UN report finds huge gap in adaptation finance ahead of COP31

Developing nations require approximately $305 billion annually by 2035 for climate change adaptation efforts. Rich countries' collective pledge could only reach $85-120 billion each year by 2035. While current financial contributions are around $28.2-31.7 billion, this is still inadequate. UN Environment Programme emphasizes the urgent need for increased adaptation financing and overcoming institutional barriers. Action on climate adaptation is essential…