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The latest Global Environment Outlook report emphasised the need to invest against the trillion-dollar losses from climate change, biodiversity loss and land degradation. This includes overhauling fossil fuel subsidies and pricing in pollution.
The United Nations Environment Assembly takes place this week in Nairobi, at a time when wars, protectionist economic policies and global divisions are undermining nations’ ability to reach consensus on climate change, biodiversity loss and pollution – issues that require collective action.
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.
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