The UN Environment Programme warned on November 4 that funding to help developing countries adapt to climate change remains far below their needs. Its 2026 Adaptation Gap Report, released in Nairobi, estimates annual needs of about $305 billion by 2035, as communities face intensifying climate risks.
International public adaptation finance from developed to developing countries reached $28.2–31.7 billion in 2024, UNEP said, increasing by only $1 billion from 2023. Reuters reported that the shortfall leaves poorer nations struggling to prepare for worsening heatwaves, droughts, wildfires and floods.
The report estimates that even achieving the COP30 aspiration to triple international public adaptation finance by 2035 would cover just 20–29% of needs after inflation. UNEP said the $305 billion estimate largely excludes businesses’ own adaptation requirements, which could almost double the figure. The target therefore does not represent full funding of future needs.
UNEP also highlighted pressure on support for climate-related losses and damages. The first round of the Fund for responding to Loss and Damage attracted requests worth $2.8 billion against an initial funding envelope of $342 million. The agency said this reveals unmet demand, but the global financing gap for loss and damage is not yet known.
According to UNEP, money alone cannot ensure effective adaptation. Governments are strengthening climate laws, coordination and systems to manage finance, but institutional barriers still constrain implementation. The agency called for simpler access to support, predictable resources and participation by affected communities in shaping responses to losses and damages.
The findings precede COP31 in Türkiye, scheduled for November 9–20, according to Reuters. UNEP executive director Inger Andersen urged countries to pursue the tripling ambition while recognising that more will be needed to protect lives and economies. UNEP said negotiations must turn commitments into accessible funding and measurable progress on resilience.
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