The Adaptation Gap Report 2024, released by the United Nations Environment Programme (UNEP), highlights the urgent need to boost climate adaptation efforts, starting with a strong financial commitment at COP29. The report calls for a substantial increase in adaptation finance to address escalating climate impacts on vulnerable populations.
As climate impacts intensify, the report warns that global temperatures are nearing 1.5°C above pre-industrial levels, with potential rises to 2.6-3.1°C by the century’s end if greenhouse gas emissions are not drastically reduced. Presented ahead of COP29 in Baku, Azerbaijan, the report underscores the need to scale up adaptation this decade, focusing on finance, capacity-building, and technology transfer.
Finance: A critical gap
International adaptation finance to developing countries rose from $22 billion in 2021 to $28 billion in 2022. However, even if the Glasgow Climate Pact goal of doubling adaptation finance to $38 billion by 2025 is achieved, it would only reduce the estimated $187-359 billion adaptation finance gap by around 5%. UNEP calls for innovative finance mechanisms and commitments to close this gap, as current funding is insufficient to match the growing adaptation needs.
UN Secretary-General António Guterres criticized the fossil fuel industry, highlighting the burden climate change imposes on the world’s most vulnerable populations. “Climate catastrophe is hammering health, widening inequalities, and destabilizing sustainable development,” he stated. “The vulnerable are hardest hit, while the purveyors of this destruction reap massive profits.”
Escalating demand from urbanization and decarbonization
UNEP’s report shows that urbanization and decarbonization are driving increased demand for critical minerals, with implications for Africa and other regions rich in natural resources. According to Martin Lokanc, Senior Mining Specialist at The World Bank, the global shift toward decarbonization has intensified the demand for resources such as copper, which could see demand double by 2050.
With 60% of the global population expected to live in cities by 2050, particularly in Africa and India, UNEP emphasizes the importance of ensuring mining profits stay within local economies through local beneficiation. This could help support economic stability in regions with high mineral concentrations that are also vulnerable to poverty.
Adaptation planning and implementation: Falling short
The report reveals that 171 countries now have at least one national adaptation plan (NAP) or strategy, but 26 countries still lack one, with 10 showing no intent to develop such plans. The effectiveness of NAPs in developing nations is also mixed, highlighting the need for targeted support to translate planning into impactful action.
UN evaluations show that approximately half of the adaptation projects funded by UNFCCC entities are unsustainable without ongoing financial support. While adaptation efforts are increasing, the pace and scale of implementation remain insufficient. UNEP stresses that nations must expedite their adaptation initiatives to keep pace with rising climate risks.
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Mobilizing additional financial resources
Bridging the adaptation finance gap will require innovative financial solutions and enabling factors. For the public sector, UNEP recommends establishing funds, climate fiscal planning, budget tagging, and mainstreaming climate adaptation into national plans. For the private sector, UNEP calls for de-risking mechanisms to encourage private investments in adaptation projects, supported by adaptation accelerators and platforms.
UNEP emphasizes that adaptation financing must move from reactive, incremental projects to anticipatory, transformational actions. Public funds should be used more strategically to foster adaptation that is sustainable and scalable. Additionally, UNEP points out that developing countries often shoulder the costs of adaptation, conflicting with principles of equity and the polluter pays principle.
Capacity-building and technology transfer: Essential for effective adaptation
Beyond finance, UNEP underscores the need for strengthened capacity-building and technology transfer to enhance adaptation effectiveness. Key sectors like water, food, and agriculture require coordinated efforts to support marginalized and under-represented groups, although such efforts are often fragmented and expensive.
The report offers several recommendations to improve capacity-building and technology transfer:
- Prioritize interventions that leverage existing capacities, balance technologies with enabling conditions, and focus on gender equality and social inclusion.
- Develop a more robust evidence base through monitoring and evaluation to assess actual costs and effectiveness of various approaches.
- Design capacity-building and technology transfer plans that support cross-sectoral and multi-scale adaptation needs, integrating them within broader development priorities.
- Adaptation strategies should align with a comprehensive understanding of local needs rather than promoting specific technologies, making them part of long-term development strategies.
As COP29 approaches, UNEP urges global leaders to intensify adaptation efforts, adopt a quantified climate finance goal, and integrate stronger adaptation components into their climate pledges. Meeting the adaptation challenge will require not only financial commitments but also a unified global approach to capacity-building and technology transfer that aligns with equitable and sustainable development goals.
