needs of developing countries are 10-18 times as big as international public finance flows—over 50 percent higher than the previous range estimate.
The modeled costs of adaptation in developing countries are estimated at US$215 billion per year this decade and are projected to rise significantly by 2050. The adaptation finance needed to implement domestic adaptation priorities, based on extrapolation of costed Nationally Determined Contributions and National Adaptation Plans to all developing countries, is estimated at US$387 billion per year.
The report points to a study indicating that the 55 most climate-vulnerable economies alone have experienced losses and damages of more than US$500 billion in the last two decades. These costs will rise steeply in the coming decades, particularly in the absence of forceful mitigation and adaptation.