At the COP30 climate summit, nations heavily affected by climate disasters have called for $120 billion in financial support to adapt to worsening climate conditions. The demand for adaptation funding is growing as global greenhouse gas emissions continue to rise, intensifying the damage experienced by poorer countries. Delegates from low-income nations, including Bangladesh, the Philippines, and Small Island Developing States, are urging developed economies to fulfill their promises for climate financing, particularly the $100 billion annual commitment first made in 2009.
The United Nations Framework Convention on Climate Change (UNFCCC) is hosting the COP30 meeting in Bhubaneswar, India, where discussions are expected to focus on both mitigation and adaptation strategies. Environmental scientists warn that the current rate of emissions is leading to more frequent and severe weather events, such as hurricanes, droughts, and flooding, which disproportionately affect developing regions. While some wealthy nations have pledged additional funds, many are falling short of their commitments, raising concerns about the feasibility of meeting the adaptation needs of vulnerable populations.
Climate negotiators are also facing challenges in aligning funding mechanisms with the specific needs of disaster-prone areas. Issues such as the allocation of resources, transparency in fund usage, and the role of private sector investment in adaptation efforts remain contentious. As the summit progresses, there is a growing emphasis on the need for accelerated climate action and increased financial support to ensure that the most affected nations can build resilience against future climate shocks.