Adaptation Gap Report 2026

The report finds that international public adaptation finance flows from developed to developing countries reached US$28.2-31.7 billion in 2024, a US$1 billion increase over the previous year. Flows to least developed countries (LDCs) and small island developing states (SIDS) rose in real terms between 2019 and 2024 but declined from a 2022 peak, when they should be increasing. 

These flows are far below the estimated needs of US$305 billion annually by 2035. Even if the COP30 aspiration to triple international public finance flows to developing countries by 2035 is achieved, this would only cover 20-29 per cent of what is needed. More positively, tripling flows to LDCs and SIDS could meet 49-84 per cent of their needs. 

Meanwhile, climate-related losses and damages are substantial. Finance for loss and damage is falling short of identified needs, while complex procedures and limited capacity make support difficult to access. The first round of the Fund for responding to Loss and Damage generated requests worth US$2.8 billion, far outstripping the initial funding envelope of US$342 million.

The report does point to some positive developments. Efforts under the Glasgow Climate Pact to double finance from 2019 levels to US$40 billion by 2025 could still be met, as Multilateral Development Banks are likely to have increased their financing significantly in 2025. South-South support and private sector adaptation finance are also increasing. Governments are strengthening the institutional factors that help translate adaptation action priorities into implemented measures.