Analysis: Why climate-finance ‘flows’ are falling short of $100bn pledge

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One of the biggest and most contentious issues in climate politics is the provision of money to help poorer countries cut emissions and protect themselves from climate impacts.

In 2009, wealthy nations pledged to “mobilise” $100bn in “climate finance” annually by 2020 to help vulnerable nations deal with climate change. 

Nearly one year on from the deadline, a “delivery plan” released ahead of the COP26 climate summit has concluded that the target will not be met until 2023. 

Politicians and observers have warned that this failure could undermine trust between nations as they head into negotiations in Glasgow.

What is more, there are widespread concerns about the quality of finance being offered, with questions surrounding the use of loans instead of grants, different definitions of “climate finance” and insufficient funding for adaptation efforts.

In this article, which updates and builds on a previous analysis published in 2018, Carbon Brief assesses the state of international climate finance as nations prepare for COP26.

It uses the latest numbers collated by the Organisation for Economic Co-operation and Development (OECD), a club of mostly wealthy nations, many of which are responsible for contributing climate finance.

The first section examines the progress that has been made towards the $100bn target. The second uses detailed OECD project-level data for the years 2018 and 2019 to examine how finance is “flowing” around the world, including which nations are providing and receiving the most money and what form these funds are taking.

https://www.carbonbrief.org/analysis-why-climate-finance-flows-are-falling-short-of-100bn-pledge?utm_campaign=Feed%3A carbonbrief (The Carbon Brief)&utm_content=20211026&utm_medium=feed&utm_source=feedburner