Adaptation funds

Climate–adaptation funds have not reached half of ‘most vulnerable’ nations, study finds (via Carbon Brief)

By Josh Gabbatiss

Many countries in Africa and those experiencing armed conflict are struggling to access money set aside to prepare them for climate change, according to new research.

The study finds that nearly half of the world’s most climate–vulnerable nations, from Haiti to Afghanistan, missed out on the first round of grants for adaptation projects from the UN’s Green Climate Fund (GCF).

African nations were particularly badly affected, with no money going to projects in 13 of the 30 “least developed” states across the continent.

The largest fund of its kind, GCF was explicitly created to help the parts of the world that are most exposed to climate hazards. It handed out more than $5bn during its first wave between 2015 and 2019, contributing to wealthy nations’ wider climate finance obligations.

The fund says its portfolio of projects has roughly doubled in value since the new study’s cut–off date in 2019 and “huge strides” have been taken to improve access since then.

However, some vulnerable nations are still yet to receive adaptation support and experts tell Carbon Brief that lack of resources, data and infrastructure continue to restrict access.

‘Particularly vulnerable’

The idea that “developed” countries should give climate finance to “developing” nations is enshrined in the UN Framework Convention on Climate Change (UNFCCC). Many see it as an issue of climate justice, based on historical responsibility for global warming.

A commitment by wealthy nations to give collectively $100bn in climate finance a year by 2020 was a core element of the Paris Agreement, yet they are not expected to reach this goal until 2023.

The GCF was established under the UNFCCC as a key part of this effort. It is mandated to mobilise funds for cutting emissions and adapting to global warming in developing countries, with a particular focus on those with low incomes and high climate vulnerability.

Read the full story by Carbon Brief here.