The hosts of the COP27 climate talks on Tuesday launched a global plan to help the world’s poorest communities withstand the impacts of global warming.
Unveiling the Sharm-El-Sheikh Adaptation Agenda, named after the Egyptian resort where the talks are being held, the plan sets out 30 goals to hit by the end of the decade to enhance the lives of 4 billion people.
Other goals include protecting 3 billion people from catastrophic weather events by installing early warning systems to help them prepare; investing $4 billion into mangrove restoration, which protects against flooding; and expanding clean cooking options to 2.4 billion people to reduce indoor air pollution.
In total, the plan seeks to mobilize up to $300 billion a year from private and public investors. By contrast, the world’s biggest multilateral development banks spent $17 billion on adaptation finance for poorer countries in 2021, a report by the lenders published last month showed.
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