A new report from the United Nations has found that rich countries have decreased the amount of funding they committed to helping developing countries cope with the effects of climate change, even as the need for that spending has grown. In 2021, aid for climate adaptation fell to U.S.$21 billion, a drop of 15% from 2020.
have decreased the amount of funding they committed to helping developing countries cope with the effects of climate change, even as the need for that spending has grown. In 2021, aid for climate adaptation fell to U.S.$21 billion, a drop of 15% from 2020. This is despite the fact that developing countries will need between U.S.$215 billion and U.S.$387 billion annually this decade to protect against climate shocks.
The report comes as the world enters the last quarter of the hottest year on record. The average global temperature has already exceeded 1.5C over pre-industrial levels on a third of days in 2023.), a major United Nations climate summit to be held in Dubai later this month, where assistance to developing countries will be a top agenda item.
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