UN Warns That Action to Protect Against Climate Crisis is Woefully Inadequate
A new UN report has issued a stark warning, revealing that the world is ill-prepared for the escalating impacts of the climate crisis that are already affecting billions of people across the globe. The report highlights that international funding to safeguard communities against heatwaves, floods, and droughts is just 5-10% of the required amount. In fact, funding actually declined by 15% in 2021, at a time when extreme weather events were becoming more severe.
According to the UN Environment Programme (Unep) report, poor and vulnerable countries alone require annual funding ranging from $215 billion to $387 billion for climate adaptation in this decade. However, funding has fallen to just $21 billion in 2021. While rich nations pledged at the 2021 UN climate summit in Glasgow to provide $40 billion by 2025, this funding is deemed crucial for the upcoming Cop28 summit, along with carbon emission reductions.
The report emphasizes the cost-effectiveness of adaptation measures. For instance, an investment of $1 billion in coastal flood protection can result in a $14 billion reduction in economic damages. Such protective measures can help limit future compensation payments through a new loss and damage fund that developing countries are advocating for at Cop28.
The report points out that every country is underprepared for climate impacts, making adaptation a "matter of survival." In the UK, a recent adaptation plan was considered inadequate for protecting lives and livelihoods and is facing legal challenges.
Inger Andersen, the executive director of Unep, stated, "As a civilization, we are underprepared – we don't have adequate planning or investments, and that leaves us all exposed." She highlighted recent climate-related events, including flooding in Europe and China, extreme heat and wildfires in the US and Canada, and drought in East Africa.
Andersen expressed significant concern about the decline in adaptation funding, noting that it has serious implications for people facing the full force of climate impacts without adequate protection. She also emphasized the importance of acting promptly to limit loss and damage, warning that delaying adaptation will result in greater future suffering.
António Guterres, the UN secretary-general, called for action to address the adaptation gap and deliver climate justice. He urged governments to tax the windfall profits of the fossil fuel industry, which he said contributed to the climate crisis.
Tom Evans at the thinktank E3G stressed that adaptation is essential for survival in the face of increasingly severe climate impacts. He called on political leaders to prioritize adaptation and take it more seriously, especially considering the rapid and severe onset of climate disasters.
The report concluded that current climate action is woefully inadequate to meet the goals of the Paris Agreement. Over the past two decades, the 55 most climate-vulnerable countries have incurred damages of over $500 billion, and these costs are expected to rise significantly in the coming decades without substantial emissions reductions.
Measures needed for climate adaptation include coastal defenses, flood prevention, urban heatwave adaptation, and resilient farming practices. The report also highlighted the importance of increasing and restoring green areas, early warning systems, reforms at international finance institutions, and exploring innovative sources of finance to address the growing costs of loss and damage.
The burning of fossil fuels remains the primary driver of the climate crisis. Some have proposed a global windfall tax on soaring oil and gas profits, paid by the wealthiest petrostates, as a means to provide funding for climate action and adaptation efforts.
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