The finance gap to fund climate adaptation in low-income countries is at least 50% bigger than previously thought, a new report from the United Nations Environment Programme, or UNEP, has found.
According to the report, the gap — the difference between the adaptation needs of low-income countries and the finance currently available — has grown by hundreds of billions of dollars compared to previous assessments.
While the adaptation finance gap was estimated to be in a range of $140 billion to $300 billion per year in 2016, it now stands between $215 billion and $387 billion per year, the report states.