UN says developing countries need €263bn a year for climate adaptation
The UN Environment Programme’s 2026 Adaptation Gap Report estimates developing countries will need $305 billion (€263 billion) a year by 2035 to adapt to climate change; developed countries provided $28.2 billion (€24.3 billion) in 2024. Even if the commitment to triple adaptation finance by 2035 is met, UNEP says it would cover only 20–29% of estimated needs.
Bottom line — UNEP puts annual adaptation needs at up to $420 billion (€362 billion) by 2035 when inflation is included.
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UNEP estimates that tripling finance would mean $85–120 billion (€73–103 billion) annually by 2035.
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The Guardian reports that adaptation finance from rich countries was down from its 2022 peak.
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UNEP says finance for least developed countries and small island states fell from its 2022 peak, despite rising in real terms between 2019 and 2024.
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The Mail & Guardian reports loans made up 55% of adaptation finance in 2024, while grants accounted for 44%; about half of lending was on commercial terms.
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UNEP says finance between developing countries rose from $3.8 billion (€3.3 billion) in 2019 to $9.6 billion (€8.3 billion) in 2024.
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The Guardian reports that 119 developing countries requested $2.8 billion (€2.4 billion) in the first round of the loss and damage fund, which had $342 million (€295 million) available.
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The report says the Glasgow Climate Pact goal of doubling adaptation finance from 2019 levels to $40 billion (€34.5 billion) by 2025 could still be met.