Global funding for adaptation to the increasingly devastating effects of climate change is woefully inadequate, a UN report warned on Thursday.
Adaptation, i.e. measures to reduce the exposure and vulnerability of countries and populations to the effects of climate change, is an important point of the 2015 Paris agreement aimed at limiting global warming. This treaty particularly emphasizes the aid needs of developing countries, which are often the most exposed.
But current levels of funding, at some $ 30 billion per year, are far from meeting the needs of developing countries alone, notes the United Nations Environment Program (UNEP). These needs are currently estimated at 70 billion per year and they should reach 140 to 300 billion in 2030 and 280 to 500 billion in 2050.
Efforts to be reinforced
Measures ‘far from up to the task’: UNEP calls for ‘urgently strengthening and faster implementation’ of public and private funding for adaptation, especially through ‘nature-based solutions’ , such as the protection and restoration of vulnerable ecosystems (reforestation for example).
‘The hard truth is that climate change is already here. Its effects will intensify and hit vulnerable countries and communities the hardest, even if we achieve the Paris Agreement target of keeping warming below 2 ° C ‘compared to the pre-industrial era. writes UNEP Director Inger Andersen.
In fact, with global warming of just over 1 ° C, the effects of climate change are already being felt – droughts, storms, floods, fires – particularly affecting the poorest countries. However, funds devoted to adaptation measures represent only 5% of funds committed for the climate, according to UNEP.
Yet, according to the report, such investments make economic sense, and reaching the 2 ° C ‘target could limit annual growth losses by up to 1.6%, compared to 2.2% for the 3 ° C trajectory. ‘, or the global warming trajectory corresponding to the countries’ current commitments under the Paris Agreement.
For its part, aid for the reconstruction of areas hit by climatic disasters is also lagging behind, the report notes. Thus, Mozambique, hard hit by two very close cyclones in early 2019, estimates that it has received less than a quarter of the three billion dollars needed for reconstruction.