Climate financing in the region is concentrated in Brazil, which receives a third of the region's funding, with 41 mitigation activities receiving more than 6 times that of adaptation from multilateral climate funds. By the size of its GDP, Brazil receives the largest amount of financing; this leaves the poorest countries with little or no financing and therefore reinforces a vicious circle of poverty and vulnerability. Whether this is due to Brazil's being more successful at presenting eligible projects, a lack of commitment from other developing countries or some other structural factors is an open question. In any case, compensation schemes for the most vulnerable countries appear as needed, given the differences in vulnerability to climate-related damage . This is aggravated by the fact that fund management is in the hands of supranational entities while inequalities remain in regions within a country, particularly in highly centralised countries, as is the case for countries in the region.
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report