Developed countries provided and mobilized USD 115.9 billion in climate finance for developing countries in 2022.

International

The Organisation for Economic Co-operation and Development (OECD) has released its latest climate finance data, according to which developed countries provided and mobilized USD 115.9 billion in climate finance for developing countries in 2022. This is the first time developed countries have met the USD 100 billion per year commitment, two years later than the initial target date of 2020. The commitment was later extended through to 2025.


      The report titled, ‘Climate Finance Provided and Mobilised by Developed Countries in 2013-2022,’ reveals that in 2022, climate finance was up by USD 26.3 billion from 2021, representing a 30% year-on-year increase, which is the biggest to date.

      According to the report, public funds from bilateral and multilateral channels accounted for 80% of the total climate finance provided.

     

 

     


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