The UN Environment Programme warns that tripling adaptation finance by 2035, as pledged at COP30, will leave developing countries with 70 percent of their climate adaptation needs unmet.

According to the UNEP's Adaptation Gap Report 2026, developing countries need around $305 billion annually for adaptation by 2035, rising to $420 billion when adjusted for inflation. Even under the most ambitious interpretation of the COP30 commitment, international adaptation finance would reach only $120 billion annually by 2035, covering just 20 to 29 percent of estimated needs.

International public adaptation finance from developed to developing countries reached $28.2 billion to $31.7 billion in 2024, an increase of just $1 billion from the previous year. Private adaptation finance mobilised through international public finance doubled between 2019 and 2024 to reach $3 billion, though the report warns against treating private finance as a replacement for public funding. A further $3 billion in private flows is tracked globally, although the figure is likely to underestimate actual investment.

The report finds that funding alone will not guarantee implementation, as developing countries face institutional, capacity and technology constraints. It identifies eight institutional factors that influence whether adaptation policies are implemented, including legal frameworks, government responsibilities and coordination between institutions. Among 118 countries examined, 89 percent refer to loss and damage in their national climate commitments or adaptation plans. However, only 54 percent have a system for collecting information on loss and damage, while 38 percent have a relevant legal framework.

Support from developing countries to other developing countries increased from $3.8 billion in 2019 to $9.6 billion in 2024, though these flows do not count towards existing developed-country finance targets.