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UN report: Developing countries need $420bn annually for climate adaptation by 2035 – EnviroNews
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Developing countries will require up to $420 billion annually by 2035 to adapt to worsening climate change impacts, but even a tripling of international adaptation finance by wealthy nations would cover less than one-third of their needs, a new United Nations report has warned.
The UN Environment Programme (UNEP) disclosed this in its Adaptation Gap Report 2026, which highlights a widening gap between the resources required by developing countries to protect their populations from climate impacts and the funding currently available.
According to the report, developing countries will need approximately $305 billion annually by 2035 to implement adaptation measures, rising to about $420 billion when future inflation is considered.
However, depending on how governments interpret the commitment made at the 30th Conference of the Parties (COP30) to triple adaptation finance, international funding could reach only between $85 billion and $120 billion annually by 2035.
This would cover just 20 to 29 per cent of the estimated requirements, leaving more than 70 per cent of the funding needs unmet.
The report further revealed that developed countries provided approximately $30 billion in adaptation finance to developing countries in 2024, representing only a slight increase over the previous year.
The findings have heightened calls for governments to make climate finance a central issue at the 31st Conference of the Parties (COP31), with climate advocacy organisations urging wealthy nations to move beyond negotiating financial targets and provide resources that reflect the actual needs of vulnerable countries.
Pooja Dave, Adaptation Lead at Climate Action Network International, said even if wealthy countries fulfilled the commitment to triple adaptation finance by 2035, developing countries would still face a funding shortfall exceeding 70 per cent.
She said the continuing shortfall threatened the ability of vulnerable populations to protect themselves against floods, droughts, heatwaves and other climate-related disasters.
“Floods, droughts and heatwaves won’t wait for governments to act, and every year of delay costs more lives, homes and livelihoods,” Dave said.
She called on COP31 to agree on a credible financing plan capable of delivering at least $120 billion annually in adaptation finance well before 2035.
According to her, the funding should consist of new and additional public, grant-based resources that directly reach communities most exposed to climate risks.
She also urged wealthy governments to explain how they intended to close the remaining gap and meet the full adaptation needs of developing countries.
“Adaptation is not charity. It is a legal and moral obligation,” she said.
The funding challenge also extends to addressing loss and damage resulting from climate change.
The report’s accompanying concerns highlighted the limited resources available through the Fund for Responding to Loss and Damage, which received funding requests totalling $2.8 billion during its first funding round but had only $342 million available.
This means the fund could meet approximately one-eighth of the total amount requested.
Teresa Anderson, Global Lead on Climate Justice at ActionAid International, said the UNEP estimates might underestimate the actual financial requirements of developing countries.
She described the funding shortfall as evidence of inadequate global investment in protecting populations from escalating climate impacts.
“The Earth is heating up but adaptation spending is just a fraction of the money needed to keep humanity safe,” Anderson said.
She urged wealthy countries to increase their financial contributions and ensure that COP31 produced a new climate finance goal capable of addressing the scale of adaptation needs.
Similarly, Marlene Achoki, Global Climate Justice Policy and Advocacy representative at CARE International, said the adaptation finance deficit reflected a failure to match climate commitments with the realities confronting vulnerable communities.
Achoki warned that inflation could further reduce the purchasing power of future financial commitments, making it more difficult for developing countries to implement adaptation programmes.
She stressed that progress should not be measured by financial targets announced at international climate negotiations but by the actual resources reaching communities in need.
“We cannot measure progress by targets announced, but by resources that actually reach vulnerable communities. COP31 must put grant-based public adaptation finance at the centre of the response,” she said.
Baboucarr Nyang, Coordinator of Climate Action Network Africa, also called for adaptation finance to be assessed against the actual needs of vulnerable communities rather than the amount wealthy countries were willing to provide.
He said developing countries needed up to $420 billion annually by 2035 to address worsening climate impacts, warning that inadequate funding could leave millions without the resources required to strengthen resilience and protect their livelihoods.
Nyang urged COP31 to deliver adaptation finance that was needs-based, adequate, predictable and accessible, with financial commitments reflecting the priorities of developing countries.
Dr. Sanjay Vashist, Director of Climate Action Network South Asia, said the widening funding gap was already translating into human suffering and lost development opportunities.
Citing devastating floods in Nepal and Bhutan, he said vulnerable countries were increasingly exposed to climate disasters without adequate financial resources to prepare for and respond to them.
Vashist criticised developed countries for failing to fulfil their climate finance obligations and called on them to implement the commitment to triple adaptation finance.
He said support must be adequate, predictable, accessible and provided in the form of grants to help developing countries address their climate vulnerabilities.
The growing adaptation finance deficit is expected to feature prominently in preparations for COP31, as developing countries seek stronger financial commitments to protect their populations, infrastructure, food systems and economies from the escalating consequences of climate change.
