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OECD
CLIMATE FINANCE
Developed countries exceed USD 100 billion climate finance goal for third consecutive year
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Climate finance has continued to grow with developed countries providing and mobilising USD 132.8 billion in climate finance for developing countries in 2023 and USD 136.7 billion in 2024, according to new OECD data.
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Developed countries provided and mobilised USD 136.7 billion in climate finance for developing countries in 2024
The goal of USD 100 billion for climate finance – already exceeded in 2022 with USD 115.9 billion – was surpassed again in both 2023 and 2024 by a growing margin. Climate finance remained concentrated in middle-income countries, while support for low-income countries declined to USD 8.4 billion in 2023 and recovered only partially to USD 9.6 billion in 2024, remaining below its peak of 11.1 USD billion in 2022.
Mitigation finance continued to account for the majority of climate finance provided for developing countries, at nearly two thirds of the total. Mobilised private finance – primarily through direct investment in companies, guarantees and syndicated loans – continued its upward trajectory reaching USD 30.5 billion in 2024. Adaptation finance, which helps developing countries to build resilience to the impacts of climate change, continued to grow but at a slower pace.
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