The hosts of COP27 have launched the Sharm-El-Sheikh Adaptation Agenda, outlining 30 goals to be achieved by 2030 to help vulnerable nations adapt to the effects of climate change.

A climate fund of up to $300 billion per year will be mobilised from private and public investors to aid 4 billion people living in the most climate vulnerable communities. Half of the total amount will go towards adaptation; helping communities adapt to the effects of climate change, like natural disasters.

The event, aptly titled “Making Good On Promises”, adjusts a previous commitment of $100 billion per year in climate financing from developed nations by 2020. Studies suggest that the cost of adaptation alone will come close to $400 billion per year.

Urgent targets on the Sharm-El-Sheikh Adaptation Agenda include a transition to sustainable agriculture practices which could cut emissions by 21%, while increasing yields by 17%.

The agenda also cited the need for: early warning systems to protect 3 billion people from severe weather events; expanded clean cooking options for 2.4 billion people; and a $4 billion investment into mangrove restoration, which can protect against flooding.

“The Sharm el-Sheikh Adaptation Agenda firmly puts key human needs at its core, along with concrete, specific action on the ground to build resilience to climate change,” said UN climate chief Simon Stiell.