Nations Push for Tripled Climate Adaptation Funding

Nations Push for Tripled Climate Adaptation Funding at UN TalksA coalition of countries is advocating for a significant increase in funding for climate adaptation at the upcoming UN climate talks. They aim to triple the current amount, targeting one hundred twenty billion dollars annually, to help vulnerable nations cope with the impacts of a warming planet. This push comes as global climate pollution escalates and adaptation funding lags behind.The call for enhanced adaptation funding is happening amidst a backdrop of reduced international aid from wealthy nations. Sierra Leones climate minister, Jiwoh Abdulai, stressed the need for tangible actions, not just ideas, to address adaptation needs. He emphasized the importance of setting ambitious goals, providing financial support, facilitating technology transfer, and building local capabilities.The group, comprising least-developed countries, small island states, and African nations, is working together to secure funding for projects that protect people, property, and crops from extreme weather events. They also seek to establish metrics for evaluating the effectiveness of adaptation funding, similar to those used for reducing pollution funding.As global temperatures approach the one point five degree Celsius limit, adaptation funding becomes increasingly crucial. A recent UN report indicated that a previous goal for wealthy countries to provide forty billion dollars in adaptation funding by 2025 is unlikely to be met. The report found that only twenty-six billion dollars reached vulnerable countries in 2023, a fraction of the estimated three hundred ten billion dollars needed annually by 2035.The vulnerable countries are also advocating for streamlined processes and reduced bureaucracy for funding requests, arguing that immediate resources should not be hindered by excessive paperwork. Evans Njewa from Malawi, who chairs the Least Developed Country Group, emphasized the need for countries to deliver on their promised adaptation funding.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.