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High hopes for increasing adaptation finance were scuppered in Belém.
Adaptation finance - money to help lower-income countries prepare for and live with climate change impacts - has lagged for years, with just $26 billion provided in 2023 (when hundreds of billions are needed annually).
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Experts fear the failure to deliver on adaptation finance is also likely to lead to more climate-related loss and damage.
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The Fund for Responding to Loss and Damage (FRLD) officially opened for business at COP30.
But while the Fund has been set up and is preparing to start accepting funding proposals, it remains greatly underfunded, and big questions remain over its future.
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"COP30 did not do enough to further discussions on how we make the climate finance architecture more suitable for the most under-served. It shied away from tough topics, like how to help people living in conflict-affected places, displaced people and refugees, and people living in areas under non-state armed groups," said Vazquez.
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