On the occasion of the upcoming United Nations Climate Change Conference, the United Nations Conference on Trade and development recently issued the second part of the trade and development report 2021, calling on the international community to adopt a transformative approach to climate adaptation, especially the developed economies to better support developing countries in managing the pressure caused by climate change without affecting their development goals. The report suggests that most agenda settings on climate issues focus on mitigation and ignore adaptation. Climate adaptation is not a risk management issue, but a development planning issue. For developing countries, climate shocks are undermining their growth prospects and forcing governments to divert scarce resources from productive investment. According to statistics, the relative economic losses caused by climate related disasters in developing countries are three times that of high-income countries. The cost of climate adaptation in developing countries has doubled over the past decade. With the rise of temperature, the annual climate adaptation cost of developing countries is expected to reach 300 billion US dollars in 2030 and 500 billion US dollars in 2050. The report believes that the formulation of green industry policies is the key for developing countries to adapt to the pressure of climate change. In this regard, UNCTAD has proposed a development led climate adaptation model to enable developing countries to build a more resilient economy through structural transformation and reduce their dependence on a few climate sensitive activities. However, the report also points out that the scale of investment required for climate adaptation is huge, so developed economies need to further expand their financial commitments to developing countries. Rebecca Greenspan, Secretary General of UNCTAD, said: "Governments of developing countries need sufficient policy and financial space to mobilize large-scale public investment to face future climate threats and ensure that such investment can contribute to the achievement of development goals. To align their ambitions and actions, concerted reform efforts at the multilateral level are needed to ensure that sufficient funds are provided to developing countries to adapt to the increasing climate threat Climate change has no boundaries, so our strategy to adapt to climate change must be globally coordinated. " In its report, UNCTAD proposed a reform vision of the international financial system to enable more climate adaptation funds to flow to developing countries, including expanding official development assistance commitments and increasing the proportion of additional funds dedicated to climate change adaptation and enhancing resilience; putting debt relief and restructuring of developing countries on the climate agenda; and adopting multilateral development banks The bank subsidized the additional funds needed by developing countries for climate adaptation action in the form of grants and extremely preferential loans; increased support for developing countries to improve the construction of regulatory mechanism of green bond market, etc. UNCTAD also pointed out that key green technologies should be classified as public goods so that everyone can afford to use them. The international community can support initiatives to change intellectual property rules and expand the agreement on trade related aspects of intellectual property rights The flexibility of climate related goods and services to developing countries, so as to promote the realization of mechanism innovation, so as to improve the accessibility of key green technologies protected by patents and support climate adaptation and mitigation efforts. (outlook new era)