UN Environment Programme: Growth in climate adaptation finance flows to developing countries slows

The United Nations Environment Programme released the "2026 Adaptation Gap Report" on the 4th, stating that the growth of international public adaptation finance flowing from developed to developing countries has slowed and remains far below actual needs. In 2024, such finance amounted to USD 28.2 billion to 31.7 billion, an increase of USD 1 billion from 2023; after adjusting for inflation, funding flowing to least developed countries and small island developing states remained below the 2022 peak. The report estimates that by 2035, developing countries will need approximately USD 305 billion per year in adaptation finance. COP30 calls on developed countries to double adaptation finance from 2019 levels by 2025 and triple it by 2035; even if the targets are met, after accounting for inflation this would cover only 20% to 29% of needs at that time. Adaptation finance provided among developing countries through multilateral development banks and South-South cooperation rose from USD 3.8 billion in 2019 to USD 9.6 billion in 2024.