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Climate change adaptation could cost $500 billion by 2050: UN

Climate change adaptation will cost developing countries $300 billion annually by 2030, while a failure to meet mitigation targets will push the figure to $500 billion by 2050, the United Nations warned Thursday.

The current funding represents only a quarter of the $300 billion planned for 2030, warns a report by the United Nations Conference on Trade and Development (UNCTAD) issued ahead of the UN Climate Change Conference that kicks off in Glasgow on Friday.

“Fulfilling the $100bn a year pledge for the Green Climate Fund is a must at Glasgow,” UNCTAD Secretary-General Rebeca Grynspan said.

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