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Mahesh

05/11/22 11:50 AM IST

Adaptation Gap Report 2022 raises alarm on climate finance

In News 
  • Global efforts in adaptation planning, financing and implementation are not enough to prepare vulnerable communities around the world to adapt to the rising risks from the impacts of climate change, according to United Nations Environment Programme’s (UNEP) Adaptation Gap Report, 2022.
Major Findings 
  • The current global efforts in adaptation planning, financing and implementation are insufficient to address the growing climate-related risks.
  • The world is currently on track for a 2.8°C increase in average global temperature over the average temperature obtained in the pre-industrialization era of 1850 to 1900. According to researchers, if global warming is above 2°C, it could cause catastrophic climate crisis.
  • The 2022 report found that at least 84% of parties to the UNFCCC (UN Framework Convention on Climate Change) have adaptation plans, strategies, policies and laws in place. This is a 5% increase when compared with the previous year.
  • More than 8 out of 10 countries have at least one national adaptation planning instrument that is improving and becoming more inclusive.
  • A third of the 197 parties of the UNFCCC have a quantified and time-bound targets focusing on climate adaptation.
  • Almost 90 per cent of planning instruments take into consideration gender and other vulnerable groups like indigenous communities.
  • nternational funding for the developing countries’ adaptation requirements is 5 to 10 times below the estimated needs and this gap continues to widen. The cost of the adaptation needs is expected to increase to 160-340 billion USD by 2030 and 315-565 billion USD by 2050.
Recommendations 
  • The report found that the linking of adaptation and mitigation actions from the outset in planning, finance and implementation can benefit climate actions significantly, while also minimising trade-offs like hydropower adversely affecting food security or irrigation increasing energy consumption.
  • A strong and unprecedented political will is required to increase investment in adaptation measures. Additional long-term investments are critical for preventing the adaptation gap from widening further.
About Report 
  • The Adaptation Gap Report (AGR) has been published each year since 2014 by the UNEP to provide science-based assessment of the global progress on adaptation planning, financing and implementation.
  • It recommends measures that can further the national and global adaptation efforts and provides in-depth assessment of various topics of interest.
Source- DTE 

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