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DD News 2026-11-05
UN Reports Rich Countries Lag on Climate Adaptation Funding A UN report released on Wednesday reveals that wealthy nations are significantly underfunding climate adaptation efforts for developing countries, providing only $28.2 billion in 2024, far below the $305 billion needed annually. As extreme weather events increase, the report highlights the urgency for nations to address the funding shortfall ahead of climate talks scheduled in Turkey from November 9 to 20. Despite a commitment made at COP29 to deliver $300 billion in climate finance, the current funding levels remain inadequate to meet the escalating needs of poorer nations. The report warns that without immediate action, adaptation finance requirements could soar to $420 billion annually by 2035, leaving a substantial gap even if current pledges are met.
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