Rich nations gave $32.4 bn for adaptation in 2022, gap remains

07 Nov 2024 CW Team

However, a UN report from November 2023 highlighted that developing countries require between $215 billion and $387 billion annually to protect themselves from climate change impacts.

At the UN climate conference in Glasgow in 2021, developed countries were urged to double their adaptation funding by 2025, using 2019 as the baseline. This call was reiterated at the UN climate summit in Dubai in December 2023, with a request for progress updates in 2024.

The report, published on the UNFCCC website, revealed that in 2022, $11.6 billion of international public finance was provided as grants, $17.2 billion as loans, and $100 million as equity. Compared to 2019, grants saw a 63 per cent increase, and loans rose by 48 per cent.

Of the total $32.4 billion mobilized in 2022, $10.6 billion was given as bilateral aid, while $18.3 billion went through multilateral channels, such as development banks and climate funds. Additionally, $3.5 billion in private adaptation finance was mobilized through public initiatives.

The growth in adaptation finance from 2019 to 2022 was attributed to several factors, including a 57 per cent increase in multilateral finance, mainly from multilateral development banks (MDBs), a 47 per cent rise in bilateral aid, and a 133 per cent growth in private finance mobilized by public interventions.

Regionally, Africa and Asia received the largest share of the funding from 2019 to 2022, with 39 per cent and 37 per cent, respectively. Latin America and the Caribbean received 13 per cent, while Europe and Oceania each received 2 per cent. Another 7 per cent went to multiple countries or regions.

The report emphasized that the increased adaptation finance targeted the countries most vulnerable to climate change, particularly least developed countries (LDCs) and small island developing states (SIDS). In 2022, LDCs received over $11.2 billion, and SIDS received more than $1.6 billion. From 2019 to 2022, LDCs received an average of $8.87 per person, while SIDS received $20.16 per person.

In 2022, developed countries provided a total of $32.4 billion to assist developing countries in adapting to climate change, with $28.9 billion coming from public funding, according to a recent report. This amount was approximately 23 per cent higher than in 2021 and 54 per cent higher than in 2019. The report was submitted by a group of developed nations to the UN Framework Convention on Climate Change (UNFCCC). However, a UN report from November 2023 highlighted that developing countries require between $215 billion and $387 billion annually to protect themselves from climate change impacts. At the UN climate conference in Glasgow in 2021, developed countries were urged to double their adaptation funding by 2025, using 2019 as the baseline. This call was reiterated at the UN climate summit in Dubai in December 2023, with a request for progress updates in 2024. The report, published on the UNFCCC website, revealed that in 2022, $11.6 billion of international public finance was provided as grants, $17.2 billion as loans, and $100 million as equity. Compared to 2019, grants saw a 63 per cent increase, and loans rose by 48 per cent. Of the total $32.4 billion mobilized in 2022, $10.6 billion was given as bilateral aid, while $18.3 billion went through multilateral channels, such as development banks and climate funds. Additionally, $3.5 billion in private adaptation finance was mobilized through public initiatives. The growth in adaptation finance from 2019 to 2022 was attributed to several factors, including a 57 per cent increase in multilateral finance, mainly from multilateral development banks (MDBs), a 47 per cent rise in bilateral aid, and a 133 per cent growth in private finance mobilized by public interventions. Regionally, Africa and Asia received the largest share of the funding from 2019 to 2022, with 39 per cent and 37 per cent, respectively. Latin America and the Caribbean received 13 per cent, while Europe and Oceania each received 2 per cent. Another 7 per cent went to multiple countries or regions. The report emphasized that the increased adaptation finance targeted the countries most vulnerable to climate change, particularly least developed countries (LDCs) and small island developing states (SIDS). In 2022, LDCs received over $11.2 billion, and SIDS received more than $1.6 billion. From 2019 to 2022, LDCs received an average of $8.87 per person, while SIDS received $20.16 per person.

Infrastructure Transport

06 May 2026

Pune To Build Nine Km Link Road Between Highways

The Pune Municipal Corporation (PMC) has decided to appoint an expert to plan the development of a nine km long, 60 metre wide road from Khadi Machine chowk to Wadki chowk as an extension to the Katraj-Kondhwa road to link the Mumbai-Satara and Pune-Solapur national highways. The scheme is intended to divert heavy vehicle traffic away from the city and improve access between the two arterial routes. The project has been prioritised by the PMC and forms part of a larger set of schemes in which 19 roads have been identified for development at a combined cost of Rs 9.82 billion (bn) to address c..

Infrastructure Transport

06 May 2026

Barabanki Bahraich Six Lane Highway Approved in Uttar Pradesh

The Uttar Pradesh government has approved construction of a new six-lane highway linking Barabanki and Bahraich as part of National Highway 927, and the cabinet has cleared the project. The alignment will pass through Mustafabad and Kaiserganj and extend for about 101.5 km, creating a key corridor for local and long-distance movement. The National Highways Authority of India will oversee the work and has signalled the scheme is intended to strengthen regional connectivity and cross-border access to Nepal. The project carries an estimated total cost of Rs 69,690 million, equivalent to Rs 69.69..

Infrastructure Transport

06 May 2026

Toll At Kharegaon Likely As Highway Upgrade Nears Completion

A section of the highway at Kharegaon has undergone an upgrade and is approaching completion, and authorities have indicated plans for a toll to be introduced once works finish. The project has focused on strengthening the carriageway, improving drainage and upgrading intersections to enhance safety and capacity. Officials have said the toll will be used to recover construction costs and fund ongoing maintenance. The upgrade included resurfacing of the pavement, widening of certain stretches and installation of modern signage and lighting to reduce accident risk. Contractors completed most ma..