Background
The first Global Stocktake highlighted that current adaptation efforts are falling short of achieving the long-term goals set by the Convention and the Paris Agreement. It acknowledges the significant challenges that developing countries face in accessing the necessary finance to implement their National Adaptation Plans (NAPs). With a view to accelerate progress in NAPs and raise adaptation ambition, the NAP 3.0 initiative was launched by the UNFCCC Executive Secretary at the NAP Expo in April 2024. With the second five-yearly review of progress on NAPs initiated at COP 29, the NAP 3.0 refers to the third cycle, with a focus on positioning national adaptation plans (NAPs) to attract and secure financing from a wider variety of channels and modalities, to accelerate the achievement of adaptation goals.
Pillars
The NAP 3.0 has the following pillars:
- Promoting innovative and novel adaptation financing for NAPs
- Updating the NAP technical guidelines, including by integrating the global goal on adaptation
- Supporting expedited submission of NAPs to comply with the 2025 deadline
- Scaling up the capacity of countries to develop project proposals that can mobilize a broader range of sources and modalities of finance for NAP implementation.
