As climate impacts worsen, especially for the most vulnerable, the 2024 UNEP Adaptation Gap Report, ‘Come Hell and High Water‘, calls for more accelerated climate adaptation efforts, emphasizing the need for the attainment of finance commitments at COP29.
Global temperatures are nearing 1.5°C above pre-industrial levels, as evidenced in the UNEP’s Emissions Gap Report that warned of a potential 2.6–3.1°C increase by century’s end without drastic emission cuts.
This Adaptation Gap Report launched days ahead of COP29 in Baku, Azerbaijan, has emphasized how important it is for significant scaling-up of adaptation. It further points out how this has been hindered by a large gap between required and current adaptation finance with stalemates in the operationalization of the loss and damage fund as well as the New collective quantified goal.
“Climate catastrophe is harming health, deepening inequality, and destabilizing peace,” UN Secretary-General António Guterres highlighted, stressing the disproportionate burden on vulnerable populations and taxpayers, while fossil fuel profits soar.
UNEP’s Inger Andersen pointed to the urgent need for adaptation, citing widespread damage from storms, wildfires, and droughts that threaten lives and livelihoods. “People, their livelihoods, and the nature upon which they depend are in real danger from the consequences of climate change. Without action, this is a preview of what our future holds and why there simply is no excuse for the world not to get serious about adaptation, now,” she said.
Adaptation finance flows to developing countries grew from $22 billion in 2021 to $28 billion in 2022, the highest increase since the Paris Agreement. Despite this, reaching the Glasgow Climate Pact target by 2025 would close only 5% of the estimated $187–359 billion annual adaptation finance gap.
As climate-related losses rise, developing nations face escalating debt, making timely, fair adaptation crucial. The report calls for ambitious financial goals and stronger adaptation measures at COP29, with reinforced climate pledges expected by COP30.
Adaptation efforts, while increasing, remain insufficient. Currently, 171 nations have national adaptation plans, though 26 lack such frameworks. Effective adaptation planning requires dedicated support, especially in conflict-affected areas, to meet the UAE Framework for Global Climate Resilience by 2030.
However, nearly half of UNFCCC-supported adaptation projects are deemed unsustainable long-term, highlighting the need for improved implementation and a focus on some of the long-term strategies to address this gap.
Bridging the adaptation finance gap demands innovative financial solutions across sectors. Public initiatives could include climate funds, budget tagging, and adaptation planning, while the private sector could benefit from de-risking mechanisms.
UNEP advocates for a proactive, strategic approach to adaptation financing, avoiding piecemeal project funding. Addressing adaptation costs fairly is critical, as current models often place financial strain on developing nations, contradicting global equity principles.
Based on the UNEP Adaptation Gap Report 2024, capacity-building and technology transfer have proven vital for effective adaptation which entails meaningful engagement of everyone collectively from the stakeholders to communities on the frontline.
However, current efforts are often short-lived, fragmented, and costly, with limited impact on marginalized communities. UNEP advises capacity-building strategies that mobilize local resources, prioritize gender and social inclusion, and integrate with national development plans. A strong evidence base and sector-wide coordination are essential to create lasting, inclusive adaptation solutions.
