NEW DELHI: Climate adaptation finance currently meets less than 10 per cent of the estimated USD 310-365 billion required each year, and support continues to trail far behind mitigation efforts, the Climate and Sustainability Initiative (CSI) has warned in a White Paper.

Adaptation funding dropped to about USD 26 billion in 2023, and even doubling this amount under the Glasgow Climate Pact would narrow the gap by only around 5 per cent, it claimed.

In its report, ‘Bridging Global Agendas and Local Realities: Reflections on the COP30 Agenda,’ CSI said adaptation finance remains severely underfunded, fragmented, and inequitable despite increasing global commitments. With the COP30 conference in Brazil identified as an ”Implementation COP”, CSI stresses the urgency of translating climate pledges into localized actions. It calls for the adoption of a universal adaptation taxonomy and standardized metrics to measure progress.

With the COP30 conference in Brazil identified as an ”Implementation COP”, CSI stresses the urgency of translating climate pledges into localised actions. It calls for the adoption of a universal adaptation taxonomy and standardised metrics to measure progress.

Originally published in the Press Trust of India (PTI), The Week, and Devdiscourse.