Climate finance efforts by developed countries are at a critical juncture. There are only two years before the deadline by which developed countries have committed to jointly mobilize $100bn per year to support climate action in developing countries. This $100bn commitment has a pivotal role to play in supporting developing countries to reduce their emissions and adapt to the impacts of climate change.
This year will also see governments at the 24th Conference of Parties (COP24) in Katowice agree new rules to govern how climate finance is accounted under the Paris Agreement – rules that will shape the quality and transparency of climate finance provision for many years to come.
This briefing paper offers an assessment of progress towards the $100bn goal. The second in a series, it looks at the latest donor figures for 2015–16, with a strong focus on public finance. It considers how close we are to the $100bn goal; where the money is coming from; where it is going; what it is being spent on; and how donors are counting the money they report.
Tracy Carty, Armelle Le Comte
