OECD Climate Change

Climate Finance and the USD 100 Billion Goal

At the 15th Conference of Parties (COP15) of the UNFCCC in Copenhagen in 2009, developed countries committed to a collective goal of mobilising USD 100 billion per year by 2020 for climate action in developing countries, in the context of meaningful mitigation actions and transparency on implementation. The goal was formalised at COP16 in Cancun, and at COP21 in Paris, it was reiterated and extended to 2025.

At the request of donor countries, the OECD has been tracking progress towards this goal since 2015. It produces regular analyses of progress made, based on a robust accounting framework that is consistent with the COP24 outcome agreed by all Parties to the Paris Agreement on funding sources and financial instruments.

Spotlight: 2020 trends

This report adds aggregate figures for 2020 to the previously published 2013-19 time series, providing an assessment against the initial target year of the USD 100 billion goal. It also includes an overview of climate finance provided and mobilised by climate theme, sector, financial instrument and regions for 2016-2020.

Key findings:

    • USD 83.3 billion was provided and mobilised for climate in 2020, USD 16.7 billion short of the intended USD 100 billion level in the initial target year of the goal;

    • Mitigation finance remained the main focus, although adaptation finance continued to grow;

    • Loans remained the main instrument used to provide public climate finance;

    • Climate finance mainly targeted Asia and middle-income countries.

  • Read the analysis: EnglishVersion française 

  • Read the statement by OECD Secretary-General Mathias Cormann: English | Version française 

Watch this space

A complementary report to be released in September 2022 will include further data analysis, including by exploring key trends within individual climate finance components as well as the distribution and concentration of climate finance provided and mobilised across different recipient country characteristics and groupings. The report will also provide lessons learned from observed trends, and consider questions relating to enabling environments, impacts and effectiveness of climate finance.

What is included as climate finance in OECD figures?

OECD figures capture four distinct components of climate finance provided and mobilised by developed countries:

    • Bilateral public climate finance provided by developed countries’ institutions, notably bilateral aid agencies and development banks;

    • Multilateral public climate finance (provided by multilateral development banks and multilateral climate funds), attributed to developed countries;

    • Climate-related officially supported export credits, provided by developed countries' official export credit agencies, and;

    • Private finance mobilised by bilateral and multilateral public climate finance, attributed to developed countries.

OECD publications relating to the USD 100 billion goal also include less regular forward analyses. The most recent one, released in 2021 ahead of COP26, provided scenarios for the period 2021-2025, based on most recent pledges made by bilateral and multilateral public climate finance providers. It indicates that the USD 100 billion could be met as of 2023.

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