The 2024 edition of the UN Environment Programme's (UNEP) Adaptation Gap Report paints a sobering picture of the global climate adaptation landscape. While international public adaptation finance flows to developing countries have increased, the report underscores that this falls far short of closing the widening adaptation finance gap, now estimated to be between USD 187 billion and 359 billion per year. The report calls for decisive action at the upcoming UN Climate Change Conference (UNFCCC COP 29) to address this critical issue and drive a more robust and equitable global response to the escalating climate crisis.

Unlocking Adaptation Finance: A Clarion Call for Urgent Action

Adaptation Finance: A Widening Gap

The report reveals that international public adaptation finance flows to developing countries increased from USD 22 billion in 2021 to USD 28 billion in 2022, marking the largest absolute and relative year-on-year increase since the adoption of the Paris Agreement on climate change. However, this progress is overshadowed by the stark reality that the adaptation finance gap remains alarmingly wide, now estimated to be between USD 187 billion and 359 billion per year. This underscores the urgent need for a more concerted and ambitious global effort to mobilize the necessary resources to support climate adaptation in the world's most vulnerable regions.

Towards a Stronger Collective Commitment

The report acknowledges the progress made in response to the Glasgow Climate Pact, which urged developed countries to at least double adaptation finance to developing countries by 2025 (from USD 19 billion in 2019). However, it emphasizes that more is needed to bridge the widening adaptation finance gap. The report calls for the 2024 UN Climate Change Conference (UNFCCC COP 29) to adopt a strong new collective quantified goal for climate finance (NCQG) and to include stronger adaptation components in the next round of nationally determined contributions (NDCs), due in 2025.

Accelerating Adaptation Planning and Implementation

The report finds that while 171 countries have at least one national adaptation policy, strategy, or plan in place, adaptation planning and implementation are "generally increasing," but not fast enough to keep pace with the escalating climate impacts. The report underscores the need for more ambition and support to drive a dramatic acceleration in adaptation efforts, starting with a commitment on finance at COP 29.

Unlocking Adaptation Finance: Enabling Factors and New Approaches

To unlock adaptation finance from both the public and private sectors, the report calls for enabling factors, new approaches, and financial instruments. Emphasizing the need for greater volumes of adaptation finance and a more strategic approach to investment, the report states that "the question of who pays for adaptation is… not being adequately addressed."

Capacity Building and Technology Transfer: Catalyzing Adaptation in Developing Countries

The report outlines the central role of capacity building and technology transfer in enhancing adaptation in developing countries, arguing that "changes to how they work are needed to accelerate adaptation actions on the ground." The report recommends that interventions mobilize existing capacities, provide a balanced emphasis on technologies and enabling conditions, and place gender equality and social inclusion considerations at their center. It also calls for capacity building and technology transfer plans that support adaptation across sectors, scales, and development priorities, and for adaptation strategies to be developed based on a holistic understanding of the needs.

Strengthening the Evidence Base for Adaptation

The report emphasizes the need for a more robust evidence base, including evidence from monitoring and evaluation on the capacity and technology needs, which approaches work, and their actual costs. This, the report argues, is crucial to inform and guide the design and implementation of more effective and impactful adaptation interventions.

A Call to Action: Urgent Steps Towards a Climate-Resilient Future

In his video message for the launch of the Adaptation Gap Report 2024, UN Secretary-General António Guterres underscored the urgency of action, stating that "2024 is on track to be the hottest year ever recorded." He called for urgent action in four key areas: clearly stating adaptation planning, financing, and implementation needs in the new round of NDCs; protecting all by effective early warning systems by 2027; unlocking an NCQG to ensure "a massive increase in adaptation finance from public and private sources"; and the Group of 20 (G20) leading on limiting global warming to 1.5°C by cutting emissions 9% each year to 2030, phasing out fossil fuels "fast and fairly," and accelerating "the renewables revolution."UNEP Executive Director Inger Andersen echoed the call for an ambitious NCQG at COP 29, emphasizing the need for "well-financed and effective adaptation that incorporates fairness and equity." The Adaptation Gap Report 2024 serves as a clarion call for the global community to come together and take decisive action to bridge the adaptation finance gap and build a more climate-resilient future for all.