UNEP: Nations Must Step Up Adaptation—Starting with Bold Finance Action at COP 29

• by Umar Manzoor Shah (nairobi)
• Thursday, November 07, 2024
• Inter Press Service

It stresses that robust, well-funded adaptation strategies are vital to safeguarding those most at risk and calls for immediate, substantial global action in adaptation planning, finance, and implementation. With the surging demands of a warming planet. Released ahead of the COP 29 climate conference in Baku, Azerbaijan, the report—titled Come Hell and High Water—projects a bleak future where vulnerable communities bear the brunt of climate-induced hardships. 

It stresses that robust, well-funded adaptation strategies are vital to safeguarding those most at risk and calls for immediate, substantial global action in adaptation planning, finance, and implementation.

Wildfires, floods, and rising temperatures continue to inflict devastating impacts on people worldwide, especially the poor. UNEP Executive Director Inger Andersen has underlined the urgency of scaling up adaptation efforts: "The world is failing to adapt to current climate impacts, let alone those that will come if we do not cut greenhouse gas emissions decisively.

"It is time to treat adaptation as one of humanity's top priorities, alongside emissions reduction. Those already facing the consequences deserve effective, fair adaptation actions that address their unique needs."

Furthermore, the report stresses that the scale of climate impacts is moving faster than the world's response.

"Adaptation is no longer a distant option; it is now a priority," says UNEP's Chief Scientific Editor Henry Neufeldt, summarizing the report's call for urgent action. The report arrives at a time when nations are expected to boost their financial commitments for adaptation as part of the Glasgow Climate Pact.

This Pact urges developed countries to double adaptation finance to developing nations by 2025, a goal that aligns with the need for a New Collective Quantified Goal (NCQG) on climate finance, slated for negotiation at COP29.

Also, UNEP notes that adaptation finance reached only USD 28 billion in 2022, up from USD 22 billion the previous year. While this is a notable increase, it remains far below what is needed to address the vast scale of climate change impacts. According to UNEP, estimated global adaptation needs range between USD 215 billion and USD 387 billion per year through 2030, leaving a significant financing shortfall. Even doubling current financing flows would close only a small fraction of the adaptation finance gap.

"We can't rely on one source alone. The financial burden is too great," says Neufeldt. "We must pursue creative financing models and mobilize both public and private sectors to ensure resources reach those who need them most."

According to the report, 87 percent of the world's countries have at least one adaptation plan in place, though the quality and coverage vary significantly.

Out of the 197 UN member countries, 171 have established at least one national adaptation instrument, yet 10 nations—most grappling with internal conflict or political instability—are yet to initiate formal adaptation planning. Furthermore, many adaptation plans lack specific timeframes and budgets, undermining their effectiveness.

Anne Hammill from the International Institute for Sustainable Development, who co-authored a chapter on adaptation planning, writes in the report, "There's a noticeable increase in awareness and preparation for adaptation planning globally. However, for some nations, fragility and limited capacity present obstacles to formulating and executing these plans."

Moreover, UNEP finds that only 68 percent of countries with national adaptation plans align these strategies with their Nationally Determined Contributions (NDCs), the climate pledges under the Paris Agreement. This disconnect, as per the report, has resulted in overlapping efforts and inefficient resource use.

"When countries update their NDCs, they must ensure these are harmonized with adaptation plans," Hammill notes. "This alignment is essential to avoid duplicated efforts and to streamline investments where they matter most."

The uneven quality of adaptation plans means that even those countries with established strategies may struggle with execution. In many cases, adaptation projects—particularly those with international funding—don't have long-lasting effects. For example, almost half of the projects evaluated were rated either unsatisfactory or unsustainable without continued external funding.

"Adaptation actions need long-term funding and local support to be effective. Temporary measures, while beneficial in the short run, often fail to address underlying vulnerabilities in the long term," reads the report.

Slow Implementation Leaves Vulnerable Communities Exposed

The report reveals that implementation of adaptation measures lags significantly behind planning efforts, leaving at-risk communities dangerously exposed to climate impacts. An analysis of data shows that adaptation implementation has not kept pace with the accelerating rate of climate change. Floods, wildfires, and extreme weather events increasingly affect millions, yet financial and institutional barriers stymie progress in implementing effective adaptation measures.

The report elaborates, "The data on adaptation implementation is concerning. Many countries start strong with initial adaptation projects, but sustaining them has proven challenging. This gap between planning and action often leads to severe consequences for vulnerable communities."

In addition to the need for more robust financing mechanisms, UNEP underlines the importance of inclusive adaptation measures that integrate the voices of marginalized communities. Many of the most impacted groups, including women, indigenous peoples, and economically disadvantaged populations, are frequently excluded from the planning process.

"Adaptation must be inclusive and equitable," Hammill says. "Vulnerable groups often face the worst climate impacts, yet their voices remain underrepresented in the adaptation process."

The Adaptation Finance Gap: A Call for New Approaches

A central focus of the report is the persistent adaptation finance gap. Although public adaptation finance flows to developing countries saw a record year-on-year increase, UNEP stresses that even substantial gains fall far short of what is required. "Current financing levels are simply inadequate. Doubling the finance might reduce the gap by about 5%, but we need much more ambitious targets to meet the needs."

To bridge the finance gap, the report advocates a shift from reactive, project-based funding to a more proactive, transformative approach. This requires financing for anticipatory and systemic adaptation actions, such as building climate-resilient infrastructure and enhancing social protection. According to UNEP, innovative financing instruments, such as resilience bonds, risk insurance, and payments for ecosystem services, could mobilize new sources of adaptation funding.

The report points out that the private sector has a key role to play. "While public funds are essential, we need private investments to scale up adaptation," it explains, adding that in sectors such as agriculture, water, and infrastructure, private finance can be instrumental if de-risking measures are implemented. However, private finance is often inaccessible to the most vulnerable; there is a need for public-private partnerships and targeted government support.

Capacity-Building and Technology Transfer for Effective Adaptation

Beyond finance, UNEP's report also calls for stronger investments in capacity-building and technology transfer. These efforts are vital to empowering developing nations to manage climate impacts effectively. According to the report, developing countries require additional support for building local adaptation capacity in sectors like agriculture, water management, and public health.

The report also highlights the importance of a multifaceted approach. "Capacity-building must go beyond technical solutions. It requires investing in human resources, policy frameworks, and long-term community engagement. While we see capacity needs highlighted in many national plans, a strategic, coordinated approach is still missing."

The report indicates that sectors such as food and agriculture receive the most technology-related development finance, yet other crucial areas like coastal protection and disaster preparedness need more support. For example, developing countries face obstacles in adopting technologies like solar-powered irrigation due to high installation and maintenance costs, making widespread use challenging. It suggests that bridging this technology gap will require both public investment and private sector involvement.

Path Forward at COP 29 and Beyond

As COP 29 approaches, the 2024 Adaptation Gap Report has pinned the need for decisive action in Baku to secure global adaptation commitments. At the heart of these discussions is the establishment of a New Collective Quantified Goal (NCQG) on climate finance, a successor to the USD 100 billion annual goal set in 2010. This new target, UNEP argues, must prioritize adaptation and recognize the unique challenges faced by developing nations.

Andersen, who will lead UNEP's delegation to COP 29, expresses hope that the international community will rally around adaptation as a central theme.

In addition to setting an ambitious finance goal, COP 29 will discuss mechanisms for better tracking adaptation actions, establishing loss and damage funding, and addressing the debt burdens that restrict developing nations from prioritizing adaptation investments. UNEP advocates for debt relief and restructuring as a way to free up funds for climate adaptation, particularly in nations where high debt costs eclipse adaptation funding.

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© Inter Press Service (2024) — All Rights ReservedOriginal source: Inter Press Service

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