Adaptation Finance Stalls at Bonn as Developing Bloc Presses USD 120 Billion Goal
Negotiators closed the first week of the Bonn climate talks without moving the adaptation finance text, according to Rebecca Thissen of Climate Action Network International, who said there was "no progress happening in the finance rooms". She tied that stall directly to the outlook for the next Conference of the Parties (COP31).
The African Group of Negotiators asked that future text carry the COP30 commitment to triple adaptation finance, a request backed by every developing-country negotiating group, according to Climate Change News.
Developing countries and civil society representatives are coalescing around USD 120 billion a year, a figure built by tripling the earlier USD 40 billion-a-year goal set for 2025.
Adaptation finance reached USD 31.7 billion in 2024 and likely fell in 2025, according to Climate Change News, leaving delivery far short of the sum the developing bloc is demanding.
Marlene Achoki of CARE International called the USD 120 billion target a floor rather than an adequate response, citing a USD 300 billion gap between annual adaptation finance and developing countries' needs as estimated by the United Nations.
Finance was not the only pressure point. Trade reached the formal agenda for the first time, with the opening dialogue on trade under the UN climate regime held at Bonn on June 13, 2026.
The United Nations Conference on Trade and Development (UNCTAD) warned that building renewable energy projects with foreign investment that withholds technical know-how from developing countries does not guarantee broader economic gains and could create a new form of dependency in the name of the green transition.
Source: climatechangenews.com (opens in a new tab)1 sourcePermalink