The United Nations Environment Programme (UNEP) released its Adaptation Gap Report 2020 recently, estimating a quadrupled annual cost of adapting to climate changes by 2050 for developing countries. As per the report, the current adaptation cost is around $70 billion, which may escalate to $140-$300 billion by 2030 and $280-$500 billion by 2050.
The Intricacies of Adaptation Cost and Adaptation Finance
Adaptation cost entails the expenses involved in planning, preparing, and implementing measures to adjust to climate change’s effects. It has been surging at a rate faster than the increase in adaptation finance, resulting in a widening Adaptation Finance gap.
Adaptation finance refers to resource allocation to help developing nations cope with climate change-induced weather catastrophes. While actual adaptation costs are heavier in developed countries, their impact on the GDP is more burdensome for developing nations.
Developing Countries Disproportionately Affected
Specifically, regions like Africa and Asia, which are least prepared to combat climate change, will bear the most significant brunt. This skewed impact distribution arises out of economic restrains and the lack of adequate resources or infrastructure to mitigate the effects.
Global Challenges: Rising Temperatures and More
The world is currently on track for a temperature rise of 3°C this century, even under the existing Paris Agreement pledges. Climatic adversities will be most severe in less affluent nations, even if global warming is restricted well below 2°C or 1.5°C. Additionally, the COVID-19 pandemic has further hampered adaptation efforts, although the precise degree of impact remains undetermined.
Apart from the pandemic, 2020 also witnessed an array of natural disasters such as floods, droughts, and locust plagues, affecting approximately 50 million people worldwide.
Global and National Initiatives to Combat Climate Change
Three-quarters of all countries have adopted at least one climate change adaptation planning tool. Most developing nations, including India, are devising national adaptation plans. Several Indian initiatives have also been put into effect which include the shift from Bharat Stage-IV to Bharat Stage-VI emission norms, the launch of the National Clean Air Programme and the distribution of over 360 million LED bulbs under the UJALA scheme.
The Jawaharlal Nehru National Solar Mission was initiated with the goal of achieving grid parity by 2022. The National Action Plan on Climate Change (NAPCC), launched in 2008, aims to raise awareness about the climate change threat and ways to counteract it.
Understanding United Nations Environment Programme (UNEP)
Established on 5th June 1972, UNEP is a global environmental authority. It sets the environmental agenda globally, promotes sustainable development within the United Nations system and advocates for international environment protection. UNEP releases major reports such as Emission Gap Report, Global Environment Outlook, Frontiers, Invest into a Healthy Planet and runs campaigns like Beat Pollution, UN75, World Environment Day and Wild for Life. Its headquarters are located in Nairobi, Kenya.
