Brasilia: Brazil is calling for stronger global financial support to help developing countries adapt to the worsening impacts of climate change. The appeal comes ahead of the COP30 summit, as a new UN report warned that the world will need to spend nearly $310 billion a year by 2035 to cope with rising sea levels, extreme heat, and other climate threats.
That figure is around 12 times higher than the current annual spending on adaptation, according to the UN Adaptation Gap Report released. Despite repeated promises at past COP summits, funding for adaptation still lags far behind investments in renewable energy and emissions reduction technologies.
The release of the report coincided with the devastation caused by a Category 5 hurricane in Jamaica, highlighting the growing urgency of climate preparedness. Scientists say warming oceans are driving more frequent and intense storms, heavier rainfall, and greater storm surges.
UNEP’s new #AdaptationGap Report warns that developing countries will need at least US$310 billion per year by 2035 to protect lives, livelihoods, and economies. Yet, current financing lags far behind.
Discover how to close this gap: https://t.co/vM7qhphC4C pic.twitter.com/eofIURzWLf
— UN Environment Programme (@UNEP) October 29, 2025
Andre Correa do Lago, Brazil’s COP30 summit president, said that the meeting, scheduled for November 10–21 in Belem, will prioritise securing a package of resources to boost adaptation funding.
“More than ever, the public and governments want resources for adaptation. Some will come from rich countries, some from philanthropy, and above all, from the attention of multilateral development banks,” he said. “
The UN report found that international public finance flows for adaptation projects in developing countries reached only $26 billion in 2023, far short of the required levels.
Earlier this week, Bill Gates urged world leaders to shift their focus toward funding efforts that improve and protect lives, rather than solely pursuing emission targets.
Amid rising heat and climate impacts, developing countries face a dangerous shortfall in climate adaptation finance.@UN Secretary General @antonioguterres calls for urgent investment to close the gap.
Full statement: https://t.co/EIn0tk5yR4 pic.twitter.com/23drIzVlhs
— UN Environment Programme (@UNEP) October 29, 2025
With the United States, the world’s largest economy, stepping back from climate commitments, Brazil hopes COP30 will reassure the global public that the fight against climate change continues.
Climate finance has long been a divisive issue at UN summits. The COP29 agreement in Baku, Azerbaijan, pledged $300 billion annually by 2035, but developing nations criticised the figure as insufficient.
Azerbaijan and Brazil are now drafting a ‘Baku to Belem Roadmap’, exploring ways to scale climate finance to $1.3 trillion annually, tapping private investors, development banks, and philanthropic sources.
