Nov. 3 (UPI) — Countries need to drastically increase funding to adapt to the effects of global climate change, says the U.N. Environment Program 2022 Adaptation Gap Report released Thursday.
The report found that international adaptation finance flows to developing countries were five to 10 times below what is needed to address the effects of climate change.
“Climate change is landing blow after blow upon humanity, as we saw throughout 2022: most viscerally in the floods that put much of Pakistan under water,” program Executive Director Inger Andersen said.
While the implementation of adaptation measures related to agriculture, water, ecosystems and cross-cutting sectors is increasing, the report noted that the cost of adaptation could outpace available resources.
It estimated that international adaptation costs will reach $160 billion to $340 billion by 2030 and $315 billion to $565 billion by 2050.
“Adaptation needs in the developing world are set to skyrocket to as much as $340 billion a year by 2030. Yet adaptation support today stands at less than one-tenth of that amount,” U.N. Secretary-General António Guterresse said in a statement marking the release of the report.
The report notes that combined adaptation mitigation finance flows to developing nations in 2020 were at least $17 billion short of the $100 billion pledged.
The report comes ahead of the Cop27 climate change conference which will be held Sunday through Nov.18 in Sharm El Sheikh, Egypt.
The program posted a video to YouTube on Thursday to explain the challenge of adapting to climate change.
