NEW DELHI: A new UN report , released on Wednesday, warned that the developing countries will need at least $310-365 billion per year by 2035 for taking various adaptation measures to protect lives, livelihood, and economies from the impact of climate change , but the current financing lags far behind at around $26 billion (2023 values) — 12-14 times less than what is actually needed by them.
Released by the UN Environment Programme, the report, while noting the huge adaptation finance gap, said that the “world is gearing up for climate resilience without the money to get there”.
It also underlined that though the overall adaptation planning and implementation are improving, the Glasgow Climate Pact goal of doubling international public adaptation finance to $40 billion by 2025 from 2019 levels will not be achieved, and this gap will put millions at greater risk from floods, heatwaves and storms across the globe.
International public adaptation finance flows to developing countries was, in fact, down from $28 billion in 2022 to $26 billion in 2023.
“Climate impacts are accelerating. Yet adaptation finance is not keeping pace, leaving the world’s most vulnerable exposed to rising seas, deadly storms, and searing heat,” said UN secretary-general António Guterres in his message on the report.
He said, “Adaptation is not a cost – it is a lifeline. Closing the adaptation gap is how we protect lives, deliver climate justice, and build a safer, more sustainable world. Let us not waste another moment.”
The report, released ahead of the annual UN climate conference (COP30) which is scheduled to be held in Belem, Brazil during Nov 10-21, also flagged that the new goal for climate finance that calls for developed nations to provide at least $300 billion for climate action in developing countries per year by 2035 is “insufficient to close the finance gap”.
Though the amount ($300 billion per year) was agreed at COP29 in Baku last year, developing countries, including India, expressed their strong objections to it as they wanted it to be raised to $1.3 trillion per year by 2035.
Referring to the insufficient amount as the new climate finance goal, the report said that if the past decade’s inflation rate is extended to 2035, the estimated adaptation finance needed by developing countries goes from $310-365 billion per year in 2023 prices to $440-520 billion per year.
It further added that the $300 billion target is for both mitigation and adaptation, meaning that adaptation would receive a lower share.
“The Baku to Belém Roadmap to raise $1.3 trillion by 2035 could make a huge difference, but care must be taken not to increase the vulnerabilities of developing nations. Grants, and concessional and non-debt-creating instruments, are essential to avoid increasing indebtedness, which would make it harder for vulnerable countries to invest in adaptation,” said the report.
“Every person on this planet is living with the impacts of climate change: wildfires, heatwaves, desertification, floods, rising costs and more,” said Inger Andersen, executive director, UNEP.
She said, “As action to cut greenhouse gas emissions continues to lag, these impacts will only get worse, harming more people and causing significant economic damage.
We need a global push to increase adaptation finance – from both public and private sources – without adding to the debt burdens of vulnerable nations. Even amid tight budgets and competing priorities, the reality is simple: if we do not invest in adaptation now, we will face escalating costs every year,” said the executive director.
The UNEP’s ‘Adaptation Gap Report 2025’ also noted the progress in meeting climate pledges, saying the countries reported on over 1,600 implemented adaptation actions, mostly on biodiversity, agriculture, water and infrastructure, in their Biennial Transparency Reports submitted under the Paris Agreement. “However, few countries are reporting on actual outcomes and impacts, which are needed to assess their effectiveness and adequacy,” it said.
"This report confirms a staggering betrayal. The adaptation finance gap is a death sentence for communities on the frontline. For decades, the developing world has been told to prepare for a crisis they didn't cause. They have done their homework—172 countries now have adaptation plans—but rich nations have offered only lip service, with finance flows decreasing last year,” said Harjeet Singh, climate activist and founding director of the Satat Sampada Climate Foundation.
He further said, “The monumental gap—now at least 12 times what is provided—is the direct cause of lost lives, destroyed homes, and shattered livelihoods. This is a deliberate political choice by rich countries to abandon the developing world to climate impacts they had no role in causing. It is the very definition of climate injustice."
Released by the UN Environment Programme, the report, while noting the huge adaptation finance gap, said that the “world is gearing up for climate resilience without the money to get there”.
It also underlined that though the overall adaptation planning and implementation are improving, the Glasgow Climate Pact goal of doubling international public adaptation finance to $40 billion by 2025 from 2019 levels will not be achieved, and this gap will put millions at greater risk from floods, heatwaves and storms across the globe.
International public adaptation finance flows to developing countries was, in fact, down from $28 billion in 2022 to $26 billion in 2023.
“Climate impacts are accelerating. Yet adaptation finance is not keeping pace, leaving the world’s most vulnerable exposed to rising seas, deadly storms, and searing heat,” said UN secretary-general António Guterres in his message on the report.
He said, “Adaptation is not a cost – it is a lifeline. Closing the adaptation gap is how we protect lives, deliver climate justice, and build a safer, more sustainable world. Let us not waste another moment.”
The report, released ahead of the annual UN climate conference (COP30) which is scheduled to be held in Belem, Brazil during Nov 10-21, also flagged that the new goal for climate finance that calls for developed nations to provide at least $300 billion for climate action in developing countries per year by 2035 is “insufficient to close the finance gap”.
Though the amount ($300 billion per year) was agreed at COP29 in Baku last year, developing countries, including India, expressed their strong objections to it as they wanted it to be raised to $1.3 trillion per year by 2035.
Referring to the insufficient amount as the new climate finance goal, the report said that if the past decade’s inflation rate is extended to 2035, the estimated adaptation finance needed by developing countries goes from $310-365 billion per year in 2023 prices to $440-520 billion per year.
It further added that the $300 billion target is for both mitigation and adaptation, meaning that adaptation would receive a lower share.
“The Baku to Belém Roadmap to raise $1.3 trillion by 2035 could make a huge difference, but care must be taken not to increase the vulnerabilities of developing nations. Grants, and concessional and non-debt-creating instruments, are essential to avoid increasing indebtedness, which would make it harder for vulnerable countries to invest in adaptation,” said the report.
“Every person on this planet is living with the impacts of climate change: wildfires, heatwaves, desertification, floods, rising costs and more,” said Inger Andersen, executive director, UNEP.
She said, “As action to cut greenhouse gas emissions continues to lag, these impacts will only get worse, harming more people and causing significant economic damage.
We need a global push to increase adaptation finance – from both public and private sources – without adding to the debt burdens of vulnerable nations. Even amid tight budgets and competing priorities, the reality is simple: if we do not invest in adaptation now, we will face escalating costs every year,” said the executive director.
The UNEP’s ‘Adaptation Gap Report 2025’ also noted the progress in meeting climate pledges, saying the countries reported on over 1,600 implemented adaptation actions, mostly on biodiversity, agriculture, water and infrastructure, in their Biennial Transparency Reports submitted under the Paris Agreement. “However, few countries are reporting on actual outcomes and impacts, which are needed to assess their effectiveness and adequacy,” it said.
"This report confirms a staggering betrayal. The adaptation finance gap is a death sentence for communities on the frontline. For decades, the developing world has been told to prepare for a crisis they didn't cause. They have done their homework—172 countries now have adaptation plans—but rich nations have offered only lip service, with finance flows decreasing last year,” said Harjeet Singh, climate activist and founding director of the Satat Sampada Climate Foundation.
He further said, “The monumental gap—now at least 12 times what is provided—is the direct cause of lost lives, destroyed homes, and shattered livelihoods. This is a deliberate political choice by rich countries to abandon the developing world to climate impacts they had no role in causing. It is the very definition of climate injustice."
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