Tackle the crisis now
The irregular weather patterns over the past several years are pointing towards a harsh reality called climate change. These changes are not only leaving an impact Asia but across the globe. Even this winter we observed a serious change in weather patterns with many nations witnessing heavy snowfalls while other dying to see a drop of rain from the skies.
In in Jammu and Kashmir the situation was quite severe as till late January this year the winter proved almost snowless. So much so that most of the water bodies ran dry with water levels touching critical downfall limits.
Ironically, climate change is having huge impact across the globe with smaller and less developed countries having to bear most of the brunt on this serious issue. What is worrisome to note is that the developing countries will need up to USD 365 billion every year by 2035 to adapt to worsening climate impacts, but the money to protect vulnerable communities is drying up.
A new UN report (the Adaptation Gap Report, releases in late 2025) by UN Environment Programme (UNEP) said that adaptation finance flows from rich nations actually fell last year despite repeated pledges to scale up support.
According to the report, developing nations require USD 310 billion annually by 2035 based on modelled costs and USD 365 billion when based on needs listed in their Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs).
However, international public adaptation finance to these countries stood at just USD 26 billion in 2023, down from USD 28 billion in 2022, making the required funds roughly 12 to 14 times higher than current levels.
Ironically, developing countries in Asia, Africa and Latin America are among those facing the most severe climate impacts, from floods and droughts to rising heat stress.
And without urgent action from developed nations to meet their finance obligations, these regions will be forced to bear the growing costs of adaptation largely on their own.
The present situation demands that both public and private finance must increase substantially to meet adaptation goals, it is also estimated that the private sector can contribute around USD 50 billion annually by 2035 if backed by targeted policy measures and blended finance.
What is being felt is that the growing use of loans to finance adaptation in vulnerable countries will raise the share of non-concessional debt that will in turn deepen inequalities and trap nations in a cycle of climate-related indebtedness.
The developed world and more so the industrialised nations need to announce a huge rise in global adaptation finance if the world is to protect lives, livelihoods and economies from intensifying climate shocks and the burden must not fall on those who did the least to cause the crisis.
The developing countries at this juncture are faced with several crises due to the turmoil in trade and businesses. Therefore, the onus lies on the stronger and big economies to come forward with a plan to help the smaller nations in financing climate related projects.
The developing countries too have to adapt one national adaptation policy, strategy or plan to integrate climate adaptation into national development planning. We have to act now, tomorrow can prove to be too late.
