The world has “missed” an opportunity to invest in more policies and measures to support climate adaptation, as only a small portion of about $17 trillion in Covid-19 recovery stimulus packages has gone into this area. Henry Neufeldt, the report’s chief editor and a senior UNEP researcher, said rising debt is “particularly burdensome” for low-income countries, urging advanced economies to offer more substantive debt relief. Aid charity CARE International said the UNEP report did not offer ideas on how the adaptation finance gap could be closed. “The solidarity you need is lacking,” he told the summit last week, referring to climate-vulnerable nations. “The biggest injustice is that the finance and the tools like debt-for-climate swaps can exist but are not on the table.”

Source: The Nation November 08, 2021 04:12 UTC