Climate change adaptation faces significant funding shortfall; calls for increased support - United Nations Environment Program

On the 4th, the United Nations Environment Program (UNEP) released a report on funding for "adaptation measures" to reduce the damage caused by climate change. It points out that developed countries are far short of contributing to the goal of at least tripling funding by 2035. He called for expanded support, calling it "an essential investment to manage climate risks."

The goal of efforts to increase funding was agreed upon at the 30th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP30) last year. According to the report, the amount needs to be expanded to between 85 billion and 120 billion dollars (approximately 13.43 trillion to 18.96 trillion yen) a year by 2035.

However, in 2024, the amount of funds provided by developed countries to developing countries was only 28.2 billion to 31.7 billion dollars (approximately 4.46 trillion to 5 trillion yen). Growth in the amount of support has also peaked at 1 billion dollars (approximately 158 billion yen) compared to 2023.

The report also notes the "loss and damage" that could result from shortfalls in adaptation measures and greenhouse gas emissions reductions. By expanding support, it will be possible to improve the current situation in which developing countries with low emissions are being harmed.