{"id":9786,"date":"2026-11-05T10:02:59","date_gmt":"2026-11-05T10:02:59","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/05\/rich-countries-fall-far-short-on-climate-adaptation-funding-un-says-businessday-ng\/"},"modified":"2026-11-05T10:02:59","modified_gmt":"2026-11-05T10:02:59","slug":"rich-countries-fall-far-short-on-climate-adaptation-funding-un-says-businessday-ng","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/05\/rich-countries-fall-far-short-on-climate-adaptation-funding-un-says-businessday-ng\/","title":{"rendered":"Rich countries fall far short on climate adaptation funding, UN says &#8211; Businessday NG"},"content":{"rendered":"<p>Rich \u200bcountries are falling well short of the $305 billion needed each year \u200cto help developing nations adapt to climate change, even as extreme weather events become more frequent and severe, a UN report said on Wednesday.\n<\/p>\n<p>Funding from developed countries rose by $1 billion to $28.2\u200bbillion in 2024, but remained a fraction of what is required \u200bto help poorer nations cope with worsening heatwaves, droughts, wildfires and \u2060floods, the UN\u2019s 2026 Adaptation Gap Report found.\n<\/p>\n<p>Countries are preparing to meet in Turkey \u200bon November 9 to 20 for the next round of climate talks, where negotiators \u200bwill examine why nations remain off track to meet a COP29 pledge made in Baku to deliver $300 billion a year in climate finance to developing countries \u2014 close to the UN\u2019s estimated \u200brequirement of $305 billion.\n<\/p>\n<p>With global temperatures projected to exceed the critical 1.5 degrees Celsius (2.7 \u200bdegrees Fahrenheit) threshold within a few years, countries need to accelerate efforts to adapt by restoring \u200cecosystems and \u2060strengthening infrastructure.\n<\/p>\n<p>The report said an agreement at last year\u2019s climate talks in Brazil to triple adaptation finance for developing countries, with the aim of reaching $120 billion a year by 2035, would still leave a funding gap of more than two-thirds.<\/p>\n<p>Adaptation \u200bfinance needs in developing \u200bcountries are expected \u2060to reach $420 billion a year by 2035, the report found.\n<\/p>\n<p>\u201cThe world is not ready to adapt to current climatic conditions, \u200bnever mind what overshoot of 1.5 C will bring,\u201d said \u200bInger Andersen, \u2060executive director of the UN Environment Programme.\n<\/p>\n<p>The report also pointed to growth in other sources of funding. Financing from multilateral development banks is likely to have increased significantly \u2060in \u200b2025, while financial flows between developing countries have \u200bcontinued to rise.\n<\/p>\n<p>Funding channelled through development banks and between developing countries more than doubled to $9.6 billion in \u200b2024 from $3.8 billion in 2019, it said.\n<\/p>\n<p>Scientists say they have made the world\u2019s first biodegradable party balloon.<\/p>\n<div class=\"bday-read-also\">\n<h4>Related News<\/h4>\n<\/p><\/div>\n<div class=\"bday-google-badges\">\n\t<a href=\"https:\/\/www.google.com\/preferences\/source?q=businessday.ng\" target=\"_blank\" rel=\"noopener noreferrer\"><br \/>\n\t\t<img decoding=\"async\" src=\"https:\/\/globalnigerianews.com\/wp-content\/uploads\/2026\/11\/Rich-countries-fall-far-short-on-climate-adaptation-funding-UN-says-Businessday-NG.jpg\" alt=\"Add BusinessDay as a preferred source on Google\"\/><br \/>\n\t<\/a><br \/>\n\t<a href=\"https:\/\/news.google.com\/publications\/CAAqKQgKIiNDQklTRkFnTWFoQUtEbUoxYzJsdVpYTnpaR0Y1TG01bktBQVAB?hl=en-NG&amp;gl=NG&amp;ceid=NG%3Aen\" target=\"_blank\" rel=\"noopener noreferrer\"><br \/>\n\t\t<img decoding=\"async\" src=\"https:\/\/globalnigerianews.com\/wp-content\/uploads\/2026\/11\/Rich-countries-fall-far-short-on-climate-adaptation-funding-UN-says-Businessday-NG-1.jpg\" alt=\"Follow BusinessDay on Google News\"\/><br \/>\n\t<\/a>\n<\/div>\n<p>Source: <\/p>\n<div class=\"nSourse\">Businessday NG<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Rich \u200bcountries are falling well short of the $305 billion needed each year \u200cto help developing nations adapt to climate change, even as extreme weather events become more frequent and&hellip; <\/p>\n","protected":false},"author":1,"featured_media":9787,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/9786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=9786"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/9786\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/9787"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=9786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=9786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=9786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}