Glasgow: At a prosperous time when it is not delivered at $ 100 billion per year promised per year, a climate report, a report from the UN Environment Program (UNEP) on Thursday called for financial support and said the cost of annual adaptation was actually three times ( The tip is higher than $ 140-300 billion) in 2030 and five times more (end of $ 280-500 billion) in 2050 for developing countries to adjust to the challenges of climate change.
Conversely, climate financing flows into developing countries for mitigation, adaptation planning and implementation reaches only $ 79.6 billion in 2019.
So, the estimated overall cost of adaptation in developing countries will be “five to ten times” higher than financial flow Public adaptation today.
“While strong mitigation is the best way to reduce the impact and long-term costs, increase ambitions in adaptation, especially for financing and implementation, it is very important to maintain the gap that exists from widening,” said the 2021 adaptation gap report from UNEP, released here on Session 26 of the UN Climate Conference (COP26).
In addition, reports found that the opportunity to use fiscal recovery from the Covid-19 pandemic to prioritize green economic growth which also helps the state adapt to the effects of climate such as dryness, storms and fire mostly missed.
“When the world sought efforts to cut greenhouse gas emissions – efforts that are still not strong enough – it must also be dramatically playing to adapt to climate change,” Eser Andersen said, executive director of UNEP.
He said, “Even if we turn off the taps at the current greenhouse gas emissions, the impact of climate change will be with us for the coming decades.
We need changes in steps in adaptation ambitions for funding and implementation to significantly reduce damage and losses from climate change.
And we need it now.
“Previously, ‘the 2021’ emissions gap report, was released in October, it has marked that the promises currently in front of mitigation (emission cuts) under the Paris agreement point to global warming 2.7 ° C in the late century This and even if the world’s heating limit becomes 1.5 ° C or 2 ° C, as described in the agreement, many climate risk remains.
In this background, all developing countries including India have paired up for higher climate financing mobilization of rich countries which, became a historical polluters, has promised to mobilize $ 100 billion per year in 2020.
However, plans’ climate finance shipping “- The time released before the initial COP26 – has stated that developed countries can mobilize most of the finance only three years later (in 2023).
Marking this gap is strong enough by India in COP26, Prime Minister Narendra Modi while delivering a speech at the leader’s summit on Tuesday, “we all know this truth that the promises are made up to now because climate financing has proven hollow.
While all of us Increasing our ambitions of climate action, world ambitions on climate finance cannot remain the same as those at the time of the Paris Agreement.
“Today, when India has decided to advance with new commitment and new energy, the transfer of climate finance and low-cost climate technology has become more important.
India expects developed countries to provide climate finance of $ 1 trillion at the beginning.
“Modi also talked about monitoring the track record of developed countries about providing climate finance as promised by them back in 2009.
He said,” Today, because we need to track the progress made in climate mitigation, we also have to trace financing Climate, we also have to trace finances.
The right justice is that countries that do not meet their promises made in climate finance, the pressure must be put into it.
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