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Brazil seeks adaptation-finance package ahead of COP30, says official
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Brazil is pushing for a climate-adaptation finance package ahead of COP30, noting a US$310 billion annual funding gap by 2035.
Brazil’s COP30 summit president Andre Correa do Lago said the country wants to help developing nations secure more financing for climate-change adaptation ahead of the UN conference in November. The United Nations’ Adaptation Gap Report estimates about US$310 billion will be needed annually by 2035. Brazil hopes to launch a “package of resources” combining rich-country commitments, philanthropy and development-bank backing. The aim is to close the large funding gap where developing nations currently receive only around US$26 billion annually.