COP27: New funding for poor nations battling climate
STORY: Currently, international finance flowing to developing countries is between 5 and 10 times below what is needed, according to a United Nations Environment Programme report released last week.
The adaptation funds are often put into programs like improving food security by planting crops that are resilient to heat and drought, or in infrastructure, such as sea walls to help keep rising waters at bay.
Africa, in particular, has struggled to respond to worsening weather extremes. Current annual adaptation spending on the continent is $11.4 billion — or about 40 percent of all climate finance, according to a report by the Global Center on Adaptation.
