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Climate funding gap widens for poor states

Reuters November 05, 2026 Less than a minute read

A boat stranded on the shore of Thatta after a flood. As a consequence of climate change, frequency of floods has increased, forcing entire communities living in the coastal areas to uproot themselves. After every devastation, fishermen, along with their meagre belongings are left with little choice to move elsewhere in search of livelihood. PHOTO: JAHANZEB TAHIR (@jt76007)

LONDON:

Wealthy countries are providing only a fraction of the funding developing nations need to cope with climate change, with annual support falling far short of the estimated $305 billion requirement, a United Nations report said on Wednesday.

Funding from developed countries increased by $1 billion to $28.2 billion in 2024, but remained insufficient as poorer nations face increasingly frequent and severe heatwaves, droughts, wildfires and floods, according to the UN's 2026 Adaptation Gap Report.

The findings come ahead of the next round of climate talks in Turkey from November 9 to 20, where negotiators will examine why countries remain off track to meet a COP29 pledge made in Baku to provide $300 billion annually in climate finance to developing nations.