News / #adaptation
First week of Baku talks marked by low turnout of leaders, Argentina’s withdrawal, and a gulf between blocs’ demands on a new finance goal.
Rich nations have the “legal and moral obligation” to pay the US$1.3 trillion that developing countries are asking for to endure climate impacts, say advocates. But some Southeast Asian countries may no longer rely on it to adapt to climate change.
The key issue at the UN climate change conference in Azerbaijan will be financing adaptation and mitigation, argues Shafqat Kakakhel.
The blended finance market is "maturing", with rising transaction volumes being driven by private sector investors, development finance institutions and multilateral development banks. But adaptation funding still lags mitigation, finds a new study.
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