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Adaptation Gap Report 2024: Urgent Call for Increased Climate Adaptation Efforts
Context:
The UNEP’s Adaptation Gap Report 2024: Come Hell and High Water, released on November 7, 2024, emphasises the critical need for increased climate adaptation efforts globally, especially focusing on finance commitments at COP29.
Background:
- Released ahead of COP29 in Baku, Azerbaijan, the report addresses the urgent need for enhanced adaptation efforts, as 2024 witnessed catastrophic weather impacts in developing nations.
- Highlights include the Nepal floods, which killed 224 people, and severe summer floods across Africa, attributed to climate change.
Adaptation Finance Needs and Gaps:
- Current State: Adaptation finance flows to developing countries rose from $22 billion (2021) to $28 billion (2022).
- Requirement: Developing countries need $387 billion annually by 2030; the current increase, while notable, is insufficient.
- Finance Gap: Meeting the Glasgow Climate Pact goal of $38 billion by 2025 would only reduce the gap by 5%, leaving a shortfall of $187-359 billion per year.
Impact of Debt on Adaptation Needs:
- Developing countries facing catastrophic climate impacts also grapple with rising debt burdens, intensifying their adaptation needs.
- The report urges financing options that do not increase debt, such as grants and concessional loans.
Proposed Innovative Financing Instruments:
- Suggested alternatives include risk finance, resilience credits, debt-for-adaptation swaps, and ecosystem service payments.
- These approaches align with proposed reforms for international finance institutions and multilateral development banks.
Progress in Adaptation Planning and Implementation:
- Global Progress: 171 countries have at least one national adaptation plan, but only 20% have advanced to a third-stage plan.
- UAE Framework for Global Climate Resilience: Established at COP28, sets targets for planning, implementation, and sector-specific adaptations (e.g., agriculture, water, health).
- Challenges in Conflict-Affected States: Seven fragile states require tailored support to achieve adaptation goals.
Shift to Transformational Adaptation:
- UNEP advocates for a move from reactive, project-based adaptation to transformational adaptation—long-term, strategic actions.
- Debate continues over defining transformational adaptation, with concerns from developing countries about feasibility and implementation challenges.
Monitoring and Evaluation Concerns:
- The report notes that metrics for tracking national adaptation progress under the UAE-FGCR are still undeveloped.
- Without established indicators, assessing true progress remains challenging.
Challenges in Adaptation Project Sustainability:
- Evaluations show that nearly half of UNFCCC-supported projects may be unsustainable without ongoing funding.
- Urges sustainable project designs to ensure long-term impact.
Equity and the Polluter Pays Principle:
- Current adaptation finance structures often burden developing nations with costs, conflicting with the polluter pays principle.
UNEP calls for an equitable approach, reflecting common but differentiated responsibilities.
