By Nina Chestney
LONDON, Jan. 14 (Reuters) – Half of global climate change funding is expected to go to help poorer countries adapt to the effects of global warming, such as droughts, rising seas and flooding, said Thursday the United Nations Environment Program (UNEP).
Extreme weather conditions over the past year, such as torrential rains in Africa, record-breaking heat waves and warmer temperatures over tropical oceans, are compatible with climate change, scientists say.
The past year has been one of the hottest on record and as the impacts intensify, governments around the world must adapt better or face serious costs, damage and loss, the report said. 2020 UNEP on Adaptation Gaps.
The 2015 Paris Agreement aims to reduce warming to less than 2 degrees Celsius, preferably 1.5 ° C, this century.
As part of the pact, governments also agreed to implement adaptation measures such as flood defenses, greener houses and drought-tolerant crops, with financial assistance for the poorest countries. .
“As the UN Secretary-General has said, we need a global commitment to devote half of all global climate finance to adaptation next year,” said Inger Andersen, Executive Director of UNEP .
“This will allow a huge leap forward in adaptation – in everything from early warning systems to resilient water resources to nature-based solutions.”
UNEP’s annual report on progress towards adaptation found that 72% of countries have adopted at least one adaptation planning instrument at the national level.
However, huge funding gaps remain to help developing countries adjust to the worst effects.
Further progress is also needed to bring adaptation projects to the stage where they provide real protection.
International funding for adaptation is slowly increasing by $ 30 billion, or 5% of climate funds tracked, each year.
But adaptation costs in developing countries are estimated at $ 70 billion per year, according to the report. This is expected to reach $ 140 to $ 300 billion in 2030 and $ 280 to $ 500 billion in 2050.
Reducing greenhouse gas emissions will reduce the impacts and costs of climate change, according to the report. Achieving the 2C target could limit annual growth losses up to 1.6%, compared to 2.2% for a 3C path.
The Global Commission on Adaptation, launched in 2018 by the United Nations, in 2019 estimated that an investment of $ 1.8 trillion in adaptation actions from 2020 to 2030 would bring a return of 7.1 trillion dollars. dollars in cost savings and other benefits by 2030 (Report by Nina Chestney; Editing by Andrew Cawthorne)