A landmark UN report was released this week which warned that time has nearly run out to ensure a liveable future for all. The report offers a sobering reality check of how dire the situation is, and offers a warning that far worse is in store in terms of species extinction, ecosystem collapse, insect-borne disease, severe heatwaves and megastorms, water shortages and reduced crop yields.

The report unequivocally conveys that we are approaching a point of no return because regardless of our efforts to curb carbon dioxide emissions, we must brace ourselves for a climate onslaught that cannot be avoided.

Even in more optimistic scenarios, the predictions are quite sobering. The report estimates that by 2050 there will be more than a billion people in coastal areas highly vulnerable to storm surges amplified by rising seas. An additional 410 million people will be exposed to water scarcity from severe drought at 2 degrees Celsius of warming, and up to 80 million will be at risk of hunger. As is always the case, the poorest and the marginalised will be the hardest hit.

Given the situation at this point in time, in addition to reducing emissions, countries need to start adapting to conditions of a warmer world. This is all the more urgent for countries that find themselves on the front line of climate change. However, these measures will require significant investment to finance new technologies and build new infrastructure—something which developing countries will not be able to manage on their own.

We need and must demand a collaborative approach to tackling this threat. Financial assistance should be obligatory on the nations that are major contributors while the global south faces the brunt of this crisis. It was reported recently that financial institutions from just six countries—the US, China, Japan, India, Canada and the UK—were found to be responsible for over 80 percent of coal financing and investment between January 2019 and November last year. This is dangerous behaviour to say the least; endangering the lives of millions around the world.

The threat to Pakistan is also acute, with 40 percent of the population being food insecure, and 80 percent citizens in urban centres lacking access to clean drinking water. Pakistani cities rank highest on the air pollution score, and smog has cut five years from life spans in Punjab and elsewhere. Adaptation is an area where Pakistan is severely lagging as it still lacks an adaptation plan in its final form. While of course we will need external financial assistance to tackle this threat, we cannot afford to wait around for help and should prioritise climate spending by diverting more resources from the national pool.