New climate finance goal must have adaptation target

As the biggest gathering on climate change this year, the COP29 in Baku, Azerbaijan, approaches, decision-makers must recognise that the world’s ability to truly adapt to the impacts of climate change depends on the new climate finance goal. Moreover, they must recognise that the future of climate finance must be based on the Global Goal on Adaptation (GGA).

Thankfully, we have a solid basis for ambition in the GGA. The last such meeting, the COP28 in Dubai last year, marked a turning point with the operationalisation of the framework for the GGA, which is a key pillar of the Paris Agreement. It established ambitious targets for thematic areas, spanning water, agriculture, health and cultural heritage, as well as for dimensional phases of the policy cycle.