A new report from the United Nations says, rich countries have decreased the amount of funding they committed to helping developing countries, cope with the effects of climate change, even as the need for that spending has grown.

It said, in 2021, aid for climate adaptation fell to 21 billion US dollars, a drop of 15% from 2020, despite the fact that, developing countries will need between 215 billion and 387 billion US dollars annually this decade, to protect against climate shocks.


The report also found that, wealthy countries have fallen short of their commitments to disburse climate adaptation aid. The report calls on developed countries, to meet their pledges to double adaptation funds, and to levy a windfall tax on fossil fuel companies, to compensate for climate losses.