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Coastal flooding could bring US$500 billion of annual damages to the Asia-Pacific by the year 2100, if countries do not adapt to rising sea levels.
China is starting to proactively adapt but its climate-finance systems remain focused on cutting emissions.
One of the headline outcomes to emerge from COP30 was a new target to “at least triple” finance for climate adaptation in developing countries by 2035.
Ensuring funds reach countries most in need, quickly and equitably, is climate finance’s biggest challenge.
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