Inger Andersen, executive director of the UNEP, said this is why climate finance — funding for low-income countries to fight the climate crisis — is vital. Adaptation costs for low-income countries will hit $140 to 300 billion each year by 2030 and $280 to 500 billion per year by 2050, UNEP reports. In 2019, only $79 billion of climate financing flowed into developing nations, according to the latest analysis. As the climate crisis intensifies, adaptation measures are becoming more critical. But Thursday's report suggests this threshold will be breached sooner than previously imagined, and some climate impacts are already irreversible.

Source: CNN November 05, 2021 06:58 UTC