The report finds that "even if global greenhouse gas emissions are cut to the level required to keep global temperature rise below 2°C this century, the cost of adapting to climate change in developing countries is likely to reach two to three times the previous estimates of $70-100 billion per year by 2050."
"This startling report opens up a window onto a nightmarish future, where the global economy is crippled and the most vulnerable countries are even further disadvantaged," said Sandeep Chamling Rai, WWF's Senior Global Adaptation Policy Advisor. "This is not a gap, it's an abyss. We can avoid falling into it, but we're running out of time."
"We need delegates in Lima to provide heavily scaled-up public funding for adaptation for a global agreement in Paris. But there are clear limits to climate change adaptation - loss and damage will become more prominent and this will increase exponentially if we don't drastically cut emissions now."
"This sobering report shows that climate change is going to bankrupt the world and we're letting it happen," said Mariana Panuncio, WWF's Climate Change Director for Latin America & the Caribbean. "The Latin American region is going to be hard hit under these funding gap scenarios, and that will severely undercut development efforts in many of our countries. You can't create prosperity if you're going broke trying to adapt to climate change."
"Investing in adaptation now - making it a central element of domestic development planning and of the new global climate agreement - must be a top priority. Ramping up the necessary finance and transfer of both knowledge and technology is essential to help the most vulnerable meet this tremendous challenge."
The original article is published on the Africa Green Media website and can be found at: http://africagreenmedia.co.za/wwf-responds-to-the-release-of-unep-adaptation-gap-report/