JOHANNESBURG - Pressure is mounting on wealthy nations to honour past climate finance pledges, with adaptation still critically underfunded.
Developing countries receive less than a tenth of what they need, as climate disasters from KwaZulu-Natal’s floods to Hurricane Melissa intensify.
With debt rising, innovative tools like South Africa’s proposed Credit Guarantee Vehicle may be key to closing the adaptation finance gap.
COP30 is currently underway in Brazil.
We find out more from Msizi Khoza, Managing Executive for ESG at Absa Corporate,
and Investment Banking.