Amid tight financial constraints, the world faces an urgent need to turn commitments into concrete action, making COP31 a test of the determination and responsibility of all parties in tackling climate change.
One of the key issues expected to dominate discussions at COP31 is the mobilisation and allocation of climate finance, particularly resources for developing countries. A report released by the United Nations Environment Programme (UNEP) ahead of the conference has highlighted a worrying shortfall in funding for climate change adaptation.
Developing countries will need approximately 305 billion USD annually by 2035, yet the funding they currently receive amounts to only around 10% of that figure. International public finance from developed countries for this purpose reached just 28.2-31.7 billion USD in 2024, a slight increase from the previous year.
Under climate agreements, developed countries, which account for a large share of global greenhouse gas emissions, are obliged to provide financial support to help developing countries adapt to climate change and transition to cleaner energy sources.
Adaptation finance is intended to protect countries against climate impacts through measures ranging from building coastal and river dykes to planting drought-resistant crops and reinforcing houses to better withstand natural disasters. However, the gap between commitments and actual delivery raises a fundamental question for climate negotiations: how can financial pledges be translated into tangible resources for the countries and communities that need support?
Without increased international funding, developing countries risk having to devote an ever-greater share of their resources to recovering from natural disasters, rather than investing in education, healthcare, infrastructure and economic development. Against this backdrop, increasing investment in vulnerable communities is a key priority.
The 2026 flash floods in Nepal demonstrate how investment in knowledge, response capabilities and early warning systems can make the difference between survival and loss of life. Equipped with disaster preparedness knowledge, a school principal managed to evacuate pupils to higher ground before the floodwaters arrived, saving every child even though the school building was destroyed.
The overarching message ahead of COP31 is that the world does not lack scientific and technological solutions to climate change, but rather the speed of implementation, adequate resources and sufficiently strong international coordination. COP31 comes at a crucial juncture in global efforts to address climate change.
Advances in clean energy technologies, early warning systems and nature-based solutions are opening up new opportunities. However, these opportunities can only be fully realised if backed by financial resources, technological capabilities and international policy coordination.
Climate finance should not be measured solely by the total amount countries pledge to contribute, but also by accessibility, lending conditions, disbursement speed and how well funding meets the actual needs of individual countries. The prospects for reaching consensus on climate finance at COP31 cannot be separated from the broader geopolitical and economic context.
Strategic competition, regional conflicts, fluctuations in energy markets, inflationary pressures and budgetary constraints are forcing many governments to reconsider their investment priorities. When financial commitments remain unfulfilled or support is difficult to access, developing countries have less incentive to embrace ambitious transition targets. Meanwhile, a lack of trust between parties undermines the effectiveness of cooperation mechanisms.
COP31's challenge, therefore, is not simply to secure an agreed document, but also to build trust, share responsibility and establish long-term cooperation mechanisms in the global fight for survival against climate change.
