Syllabus: GS3/ Environment
Context
- The “Adaptation Gap Report 2024: Come Hell and High Water” was released by the United Nations Environment Programme.
Adaptation Gap Report (AGR)
- It is an annual publication by the United Nations Environment Programme (UNEP).
- Its purpose is to assess global progress on climate change adaptation, i.e. the efforts made by countries to adjust and prepare for current and future climate impacts.
- Adaptation gap refers to the difference between the actual adaptation efforts being implemented and the adaptation needs required to mitigate the risks posed by climate change.
Key Highlights
- Adaptation Finance Gap: Although international public adaptation finance for developing countries increased to $28 billion in 2022, the overall gap remains substantial.
- Even doubling adaptation finance from 2019 levels, as targeted by 2025 under the Glasgow Climate Pact, would only reduce the finance gap by about 5%.
- Adaptation Planning and Implementation: 87% of countries now have at least one national adaptation planning instrument. Of these, 51 per cent have a second, and 20 per cent have a third.
- Aligning National Adaptation Plans (NAPs) and Nationally Determined Contributions (NDCs) is crucial for strategic implementation.
- UAE Framework for Global Climate Resilience (FGCR): Progress towards UAE FGCR targets, agreed at COP 28, is mixed, with thematic areas like poverty reduction and cultural heritage protection needing more focus.
- Many NAPs reference UAE FGCR targets but lack comprehensive data and planning for all sectors.
- Capacity-Building and Technology Transfer: Enhancing capacity and technology transfer in developing countries is vital but currently lacks effectiveness due to uncoordinated, short-term efforts.
Challenges in bridging the Finance Gap
- Complexity of Financing Instruments: The adaptation finance landscape includes resilience bonds, debt-for-adaptation swaps, and performance-based climate grants.
- Implementing these instruments effectively requires strong institutional capacity, which is lacking in developing nations.
- Policy Barriers: An absence of robust enabling policies, such as climate risk disclosure frameworks and adaptation taxonomies, hinders private sector engagement.
- High Dependence on Public Finance: The report highlights the limited involvement of the private sector, which could contribute more, especially in sectors where there are revenue-generating opportunities.
Policy Recommendations
- Adaptation efforts must prioritize fairness and equity to avoid exacerbating existing inequalities, especially concerning gender and disadvantaged communities.
- The principle of “common but differentiated responsibilities” should be reinforced in climate finance discussions.
- Implement holistic approaches that cover adaptation finance, capacity-building, and technology transfer as part of an integrated development strategy.
India’s Nationally Determined Contribution (NDCs) Goals – India seeks to achieve following targets by 2030; 1. Emission Reduction: India aims to reduce the emissions intensity of its GDP by 45% by 2030, compared to 2005 levels. 2. Renewable Energy: The country seeks to achieve 50% of its energy needs from non-fossil fuel sources by 2030, with a target of installing 500 GW of renewable energy capacity. 3. Carbon Sink: India plans to create an additional carbon sink of 2.5 to 3 billion tonnes of CO2 equivalent through afforestation and reforestation efforts. |
Source: UNEP
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