UN considered slow and irregular financing for climate change

UN considered slow and irregular financing for climate change
Fecha de publicación: 
5 November 2022
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The UN Secretary General, António Guterres said that the world leaves people unprotected from the impact of climate change, as progress in financing is slow and irregular.

The head of the largest international organization assured that according to estimates, adaptation needs in the world range between 160 and 340 billion dollars by the end of the decade, and up to 565 billion by 2050.

His remarks coincided with the publication of the Adjustment Gap Report 2022 ahead of the United Nations Climate Conference COP27, which opens this weekend in Sharm El-Sheikh, Egypt.

Guterres pointed out that 80% of countries have at least one planning instrument on environmental issues, while only one third of the 197 member governments of the United Nations Framework Convention on Climate Change have incorporated quantified and time-bound targets on adaptability.

In this regard, he stressed the need for strong political will to increase investments and results, and suggested working on four critical tracks, the first aimed at increasing the quantity and quality of financing for developed countries to support with up to US$40 billion per year by 2025.

Guterres highlighted the need to improve data and information on climate risks that are crucial to protect lives and livelihoods in vulnerable countries and communities.

Finally, the UN official stressed the importance of fulfilling his call for universal early warning systems within five years and called for the necessary financial and technical support to implement an action plan to be presented by the World Meteorological Organization at COP27.

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