$150 billion a year for climate adaptation

File 31931

Grant-based finance for adaptation in developing countries will need to increase from US$3-5 billion in 2013, to at least US$50 billion per year by 2020, and at least US$150 billion per year by 2015.

Bangladesh needs $2.6 billion per year till 2030.

ActionAid’s new report titled Mind the Adaptation Gap (released globally today - 17 November 2015) is the first to calculate the actual figures developed countries should pay as grant. Grant-based adaptation financing to developing countries is crucial.

While developed countries are hesitant to increase the total amount of grant-based finance provided to cope with climate change and adaptation in developing countries, Bangladesh needs $40b from 2015 to 2030, according to the Government of Bangladesh’s INDC published in September 2015.

The impacts of climate change on vulnerable communities in Bangladesh and other developing countries are already massive. At COP21 in Paris, we need to see a roadmap that shows the scaling-up of public finance to at least $50 billion per year by 2020, and at least $150 billion per year by 2025, so that developing countries like Bangladesh can start implementing the adaptation work that is so urgently required.

- says Farah Kabir, Country Director, ActionAid Bangladesh.

The report Mind the Adaptation Gap asserts the responsibility of rich countries to financially support developing nations to adapt to the climate crisis. The report based on investigations in six countries shows that developing countries are falling well short of providing adequate money to help people in developing countries already suffering the harsh impacts of climate change.

The report finds:

  • The USA needs to increase its contributions by more than 154 times, from the $0.44b it gave in 2013 to a fair share of $67.5b in 2025.
  • France, host of December’s landmark climate conference COP21, needs to increase its contributions by more than 75 times – from the $0.07b it gave in 2013 to $5.5b in 2025.
  • European Union members collectively need to increase contributions by more than 11 times – from $3.2b in 2013 to $36.9b in 2025.
  • Australia needs to increase its contributions by 20 times – from $0.22b in 2013 to $4.4b in 2025.

The rich and emerging economies contribute to almost 80% of the global emission where Bangladesh contributes only about 0.16% (0.4 tonnes per capita). This is almost negligible considering any calculation especially population and development needs.

According to the report, developed countries, which have produced the majority of greenhouse gas emissions in the earth’s atmosphere and have the responsibility for climate change, must acknowledge their obligation to support developing countries in adapting to climate change impacts. This must be done through providing means of implementation such as climate finance, technology transfer and capacity building.

The report comes as world governments prepare for the UN climate conference COP21 in December where a landmark global deal on climate is expected to be reached.

Adequate grant-based climate finance will be a key barometer of success for the world’s leaders at the climate summit in Paris next month. Developed countries must deliver their fair shares of adaptation finance in the new global deal.

- Farah Kabir added.

Developing countries are particularly vulnerable to climate change. Adaptation in these countries will be challenging and costly, and must take place in addition to ongoing development efforts. There is still a great deal of assessment, trial and learning to be done with regard to adaptation. Investment in technology, communications, infrastructures, institutions, trainings, outreach and many other approaches will all be required.

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