Wealthy Nations Fail to Deliver on Climate Finance Promises, Undermining Adaptation Effort
COPENHAGEN — Wealthy countries still fail to deliver the adaptation finance that developing nations urgently need to confront the escalating climate crisis, according to Hollow Commitments 2025, a new report by CARE Denmark.
The analysis of climate finance plans from 27 developed countries, including the G7 nations, finds that only three nations—Denmark, New Zealand, and the Netherlands—explicitly aim to allocate at least 50% of their climate funding to adaptation, as set forth in the Paris Agreement. Most other wealthy countries fall dangerously short of this commitment.
Despite repeated promises and pledges made in the Glasgow Climate Pact to double adaptation finance by 2025, CARE estimates that bilateral adaptation support will reach only $12 billion—just 30% of the $40 billion target—and could drop to $10 billion by 2026 due to projected aid cuts. This forces vulnerable countries—already burdened by heavy debt—to seek costly loans from multilateral development banks (MDBs), driving them deeper into indebtedness.
Read and download the full press below:
Wealthy Nations Fail to Deliver on Climate Finance Promises, Undermining Adaptation Effort
CARE’s 2025 Bonn Climate Change Conference Press Release