PARIS - Released on 16 November 2023 by the OECD Secretary-General, this report presents aggregate trends of annual climate finance provided and mobilised by developed countries for developing countries for the period 2013-21. It includes breakdowns by climate theme, sector, financial instrument and region for the period 2016-21.

In 2021, total climate finance provided and mobilised by developed countries for developing countries amounted to USD 89.6 billion, showing a significant 7.6% increase over the previous year.

This shows a positive trend, representing close to an 8% increase over 2020, which is significantly higher than the 2.1% average annual growth observed from 2018 to 2020. However, one year after the 2020 target, developed countries remain just over USD 10 billion short of the goal to mobilise USD 100 billion a year.

Two components of climate finance remain stubbornly low. First, adaptation finance dropped by USD 4 billion (-14%) in 2021, resulting in a decrease in its share of total climate finance from 34% to 27%. At the same time, cross-cutting finance, increased from USD 6 billion in 2020 to USD 11.2 billion in 2021.

Second, mobilised private climate finance, for which comparable data are only available from 2016, amounted to USD 14.4 billion in 2021, or 16% of the total.

For more information, visit: https://www.oecd.org/newsroom/growth-accelerated-in-the-climate-finance-provided-and-mobilised-in-2021-but-developed-countries-remain-short.htm?utm_campaign=env-news-17-nov&utm_content=Climate%20finance%20press%20release&utm_term=env&utm_medium=email&utm_source=Adestra