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Climate adaptation funding falls short as developing nations face rising costs
Funding to help developing countries adapt to climate change has stalled or fallen since 2022, even as extreme weather risks grow. A UN report says wealthy nations’ support is far below what is needed, leaving countries that contributed least to global heating with fewer resources to protect people and infrastructure.
The 155 developing nations are estimated to need $305bn a year by 2035; finance from rich countries reached at most $32bn in 2024, below the $40bn target for 2025. A pledge to triple adaptation finance by 2035 would provide an estimated $85bn to $120bn a year, meeting only 20% to 29% of projected needs. Least developed countries and small island states face particularly high costs, while requests to a new loss and damage fund totalled $2.8bn, against initial funding of $342m.
In short
- Adaptation funding for developing countries has stalled.
- They may need $305bn annually by 2035.
- The 2035 pledge would cover at most 29% of needs.
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Originally published by The Guardian as “Funding to help poorer countries cope with climate crisis has stalled, says UN”.