Civil Society Raise Concerns Over UN Report On Adaptation GAP
Civil society raise concerns over the recently released report on Adaptation Gap.
Despite the clear signs of accelerating climate risks and impacts worldwide, the adaptation finance gap is widening and now stands at between US$194 billion and US$366 billion per year. Adaptation finance needs are 10–18 times as great as current international public adaptation finance flows at least 50 per cent higher than previously estimated, according to the lates UN report on Adaptation Gap
South Asian Climate Action Network Director Sanjay Vashist states that developing nations should be concerned, despite the urgent need to accelerate and scale up international public adaptation finance to developing countries, these flows have actually declined, since 2020 the adaptation finance gap is likely 10–18 times as great as current international adaptation finance flows – at least 50 per cent higher than previous range estimate. Almost all South Asia nations are caught in a loop of climate induced disasters and consequent economic losses. Many have ready adaptation plans, however as the latest adaptation gap report clearly indicates they have neither received adequate assistance or compensation from the rich and historical polluting countries. COP28 is where the developed and rich countries must deliver on finance, technology and know how to help developing nations adapt to impacts of climate change.