Slow climate adaptation threatening lives and economies. PHOTO/ Duncan Moore/UNEP.
By PATRICK MAYOYO
newshub@eyewitness.africa
In a powerful address at the Adaptation Gap Report side-event at COP30, Inger Andersen, Executive Director of the United Nations Environment Programme (UNEP), issued a stark warning that the world is “running on empty” when it comes to adaptation finance, as climate impacts continue to intensify.
With heatwaves, floods, droughts, mudslides and destructive storms like Hurricane Melissa wreaking havoc across the globe, Andersen stressed the need for urgent action to avoid even greater economic and human costs in the future.
Andersen’s comments came in the wake of severe damage caused by Hurricane Melissa, one of the strongest storms to hit the Caribbean in recent years.
In the aftermath, Jamaican Prime Minister Andrew Holmes revealed that the economic impact of the hurricane could amount to about one third of the country’s GDP, highlighting the devastating cost of climate change, particularly for vulnerable nations.
“Every nation is facing climate impacts,” Andersen noted. “The poor and vulnerable are dying. Livelihoods are being destroyed. Infrastructure is being wiped out. And without significant financial support for adaptation, we will see even more severe consequences.”
According to UNEP’s latest Adaptation Gap report, the financial gap to address climate adaptation needs is widening. The report estimates that developing countries will require between US$310 billion and US$365 billion annually by 2035 to adapt to the impacts of climate change.
However, international public finance has actually decreased; from US$28 billion in 2022 to just US$26 billion in 2023, leaving a yawning gap that must be addressed to meet global adaptation goals.
“We are nowhere near where we need to be,” Andersen said, emphasising that international financial support for adaptation, especially to developing countries, is essential to meeting the targets set by the Glasgow Climate Pact and the New Collective Quantified Goal for climate finance. “Unless finance starts pouring in, we will miss these critical targets.”
Despite the grim financial outlook, Andersen pointed to some positive developments in the adaptation space. The first Biennial Transparency Reports (BTRs) revealed encouraging progress, with 172 countries now having national adaptation plans in place and a significant number of countries integrating adaptation into broader policy frameworks.
Jamaica Red Cross teams in St. Elizabeth conducted damage and needs assessments in the aftermath of Hurricane Melissa, which were followed by the distribution of food, hygiene items, cleaning kits, blankets, and tarpaulins. PHOTO/Clarisse Smitas/JRC.
Small island Developing States (SIDS), in particular, were noted for their leadership in mainstreaming resilience strategies into national planning.
But Andersen was clear: finance must flow now. She pointed to the Baku- Belem Roadmap, a proposal that could mobilise up to US$1.3 trillion annually by 2035 to fund climate adaptation if new financial instruments, concessional finance, and private sector involvement are scaled up.
“This is a huge opportunity,” Andersen said, “but only if finance providers step up to the plate.”
Highlighting innovative mechanisms, Andersen drew attention to Brazil’s new Tropical Forest Forever Facility (TFFF), which has already secured US$5.5 billion in funding.
The initiative, aimed at protecting and restoring tropical forests, could become one of the largest multilateral funding schemes ever created, offering significant financial support to more than 70 developing countries with tropical forests.
The UNEP Executive Director’s speech underscored the urgency of the situation. “The smart choice is to invest in adaptation now; this is not just a climate issue, but an economic one. Either we pay now, or we pay far more later,” she concluded.
As COP30 negotiations continue, the pressure is mounting for negotiators to ensure that climate adaptation is adequately financed to close the gap and build resilience in the face of mounting climate impacts.
