A fair share of climate finance? The adaptation edition

Developed countries committed to provide and mobilise $100 billion of climate finance each year between 2020 and 2025. However, the target has been missed every year to date. In a bid to strengthen accountability, ODI publishes an annual report assessing each developed country’s progress towards its ‘fair share’ of the $100 billion based on each country’s historical responsibility for cumulative greenhouse gas emissions, its gross national income and population size. In this third edition of ODI’s series of working papers with the Zurich Flood Resilience Alliance, we have also conducted a new assessment for adaptation finance. We present new evidence on each country’s progress towards providing its fair share of adaptation finance, which aligns closely with the needs and priorities of developing countries but has received much less funding than mitigation historically, to the point that provider countries were urged to double adaptation finance flows at the Glasgow COP in 2021.