Developing world faces multi-billion climate adaptation cash gap, U.N. report says

Inger Andersen, Executive director of the United Nations Environment Programme speaks at the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 18, 2024. REUTERS/Denis Balibouse/File Photo

LONDON (Reuters) - The amount of finance provided to developing countries to help them adapt to the impacts of climate change is far short of the $359 billion a year needed even after the biggest annual increase yet, a U.N. report on Thursday showed.

Funding from the developed world hit $28 billion in 2022 after a $6 billion rise, the most in any one year since the U.N. Paris deal in 2015 to try and limit the impacts of global warming, the annual U.N. Environment Programme report said.