Climate change is an immediate, grave, and growing threat to development, making the battle to overcome poverty ever harder and more expensive. International climate finance to developing countries is essential if we are to reduce and overcome the increased risk of floods, hunger, droughts, and disease, as well as growing inequalities within and between countries. The lives and livelihoods of poor women and men depend on it.
A commitment to increase and accelerate public finance is adaptation’s bottom-line. Without it, the Paris agreement will be a mitigation deal for big emitters, not a climate change agreement for all. This briefing sets out Oxfam's demands on adaptation finance post 2020 that need to be agreed in Paris at the end of this year, which include:
- A separate public finance target for adaptation by 2025.
- A commitment that at least half of all public finance will flow to adaptation.
- A commitment to establishing new and innovative sources of finance to address the growing gap between levels of finance and adaptation needs on the ground, and to stop the displacement on non-climate development aid.