50% of all Climate Finance Needed for Adaptation – António Guterres
One of the priority areas the UN Secretary-General identified was for developing countries to receive the necessary support and tools to make climate-resilient investment decisions and budget allocations, particularly for infrastructure.
(UN Climate Change News, 25 January 2021) –Speaking today at the virtual high-level Global Climate Adaptation Summit (CAS) hosted by the Netherlands, UN Secretary-General António Guterres called for 50% of the total share of climate finance to be spent on building resilience and adapting to the effects of a warming world.
With unprecedented climate extremes and volatility affecting lives and livelihoods on all continents, he spoke of a ‘heightened awareness of the importance of resilience,’ while pointing out the huge gaps that remain on financing for adaptation in developing countries. “Adaptation cannot be the neglected half of the climate equation,” he said.
Mr. Guterres called support for adaptation and resilience “a moral, economic and social imperative,” with one in three people today still not adequately covered by early warning systems. As illustrated by the Global Commission on Adaptation, just 24 hours warning of a coming storm or heatwave can cut the ensuing damage by 30%.
Read more at: UM Climate Change News