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UNEP’s 2025 Adaptation Gap Report
November 4 , 2025
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- The United Nations Environment Programme (UNEP) has released its Adaptation Gap Report (AGR) 2025, titled “Running on Empty”.
- The report updates the cost of adaptation finance needed in developing countries, putting it at US$310 billion per year in 2035, when based on modelled costs.
- The needs expressed in Nationally Determined Contributions and National Adaptation Plans, figure rises to US$365 billion a year.
- But, international public adaptation finance flows to developing countries were US$26 billion in 2023, down from US$28 billion the previous year.
- This makes adaptation financing needs in developing countries 12-14 times as much as current flows.
- If current finance trends continue, the Glasgow Climate Pact goal of doubling international public adaptation finance from 2019 levels by 2025 will not be achieved.
- The private sector could do more – with potential to provide around US$50 billion per year if backed by targeted policy action and blended finance solutions.
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