Context

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 (UNFCCC, 2009[1]). The goal was further recognised in the Cancun Agreements adopted at COP16 in Cancun (UNFCCC, 2010[2]). At COP21 in Paris, it was then reiterated and extended to 2025 (UNFCCC, 2015[3]).

Since 2015, at the request of donor countries, the OECD has produced analyses of progress towards this goal. These analyses are based on best-available data and a robust accounting framework, consistent with the outcome of COP24 decided by all Parties to the Paris Agreement as regards the funding sources and financial instruments related to reporting of information on financial resources provided and mobilised through public interventions (UNFCCC, 2018[4]). OECD figures capture four distinct components of climate finance provided and mobilised by developed countries 1:

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.

This report adds aggregate figures for 2020 to the previously published 2013-2019 time series 2 (OECD, 2021[5]), thereby providing an assessment against the initial target year of the USD 100 billion goal. A complementary report, to be released in September 2022, will include further disaggregated 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. This complementary report will also provide lessons learned from observed trends, and consider questions relating to enabling environments, impacts and effectiveness of climate finance, as well as to meaningful mitigation action and transparency on implementation.

The present report was jointly prepared by the OECD’s Environment and Development Co-operation Directorates. It also benefited from dedicated 2020 data inputs by the OECD Trade and Agriculture Directorate (for the majority of export credits) as well as donor countries (provision of 2019-2020 bilateral public climate finance in advance of UNFCCC reporting, delayed to later in 2022).

Notes

← 1. For further information on each one of the four components please refer to Annex A.

← 2. The 2013-2019 time series was slightly revised to implement adjustments such as exchange rate corrections.

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