2020 was not only the year of the pandemic, it was also the year of record temperatures and growing climate change impacts: floods, droughts, storms, wildfires and locust plagues. Even more worrying is that, based on current pledges under the Paris Agreement, the world is heading for at least a 3°C temperature rise this century, which will only intensify these impacts. Strong action on reducing greenhouse gas emissions is essential to meet the Paris Agreement goals of holding global warming this century to well below 2°C and pursuing 1.5°C. This would limit, but not eliminate, the impacts on vulnerable countries and communities. However, given the current uncertainties around efforts to limit climate change, the world must plan for, finance and implement climate change adaption measures appropriate for the full range of global temperature increases or face serious costs, losses and damages. Adaptation – reducing countries’ and communities’ vulnerability to climate change by increasing their ability to absorb impacts and remain resilient – is a key pillar of the Paris Agreement. The Agreement requires all of its signatories to plan and implement adaptation measures through national adaptation plans, studies, monitoring of climate change effects and investment in a green future. The fifth edition of the UNEP Adaptation Gap Report finds that such action is lagging far behind where it should be. It finds that while nations have advanced in planning and implementation, huge gaps remain, particularly in finance for developing countries and bringing adaptation projects to the stage where they bring real reductions in climate risks. Public and private finance for adaptation must be stepped up urgently, while faster implementation is required on adaptation projects. The report has a special focus on nature-based solutions – locally appropriate actions that address societal challenges, such as climate change, and provide human well-being and biodiversity benefits by protecting, sustainably managing and restoring natural or modified ecosystems. Increasing financing for and scaling up nature-based solutions will be particularly critical to help meet the goals of the Paris agreement.