UN adaptation report finds $305 billion annual funding need by 2035.

The United Nations Environment Programme's 2026 Adaptation Gap Report, issued on 4 November ahead of COP31, estimates developing countries will need about $305 billion a year by 2035 for climate adaptation. International public adaptation finance from developed countries reached only $28.2 billion to $31.7 billion in 2024, according to the report. UNEP says even achieving the COP30 aspiration to triple international public adaptation finance by 2035 would cover only about 20–29% of estimated needs. These are measured past flows and projected future needs, not funding commitments secured at COP31. Reuters independently reported the new assessment.