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Climate finance and the USD 100 billion goal: Insights to date and opportunities looking ahead
Oct 27, 2022 | 10:00 AM - 11:30 AM
Oct 27, 2022 | 10:00 AM - 11:30 AM
Description
At COP15 in 2009, developed countries committed to a collective goal of mobilising USD 100 billion per year by 2020 to support climate action in developing countries. Since 2015, at the request of donor countries, the OECD has been measuring progress towards this goal.
In its latest analysis, the OECD found that in 2020 developed countries jointly mobilised USD 83.3 billion in climate finance, USD 16.7 short of the goal. Although support for adaptation action, Least Developed Countries (LDCs) and Small Island Development States (SIDS) continued to grow, climate finance largely focused on mitigation activities and was concentrated in a few high-emitting countries. The mobilisation of private climate finance was lower than anticipated and mostly took place in middle-income countries with relatively conducive enabling environments and relatively low-risk profiles.
This event will discuss what can be learned from aggregate and disaggregated trends of climate finance provided and mobilised to date. During the discussions, presenters and panellists will delve into issues relating to the split between adaptation and mitigation finance, the distribution and concentration of climate finance across different country groupings, the use and role of different financial instruments in different contexts, the role played by enabling environments in scaling-up private finance, and more, with the aim of also highlighting opportunities for the future.
