Climate finance gap could reach $359bn, UNEP warns ahead of COP29

The United Nations Environment Programme has warned that the global finance gap for climate adaptation could soar to $359 billion annually.

“Raging storms are flattening homes, wildfires are wiping out forests, and land degradation and drought are degrading landscapes. People, their livelihoods and the nature upon which they depend are in real danger from the consequences of climate change.” The report estimates that the gap for annual adaptation financing could range from $187 billion to $359 billion yearly.

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