Climate finance for developing countries reached USD 71 billion in 2017

wind

(Luca Bravo, Unsplash)

This article is brought to you in association with OECD.


Climate finance provided and mobilised by developed countries for climate action in developing countries reached USD 71.2 billion in 2017, up from USD 58.6 billion in 2016, according to new estimates from the OECD.

While the 2016 and 2017 totals cannot be directly compared with earlier years due to improvements in data and methodology relating to private finance, Climate Finance Provided and Mobilised by Developed Countries in 2013-17 shows the overall trend is upwards.

“The goal to reach USD 100 billion in annual climate finance by 2020 is still attainable, but we must urgently step up our efforts to provide public climate finance and improve its effectiveness in mobilising private finance,” said OECD Secretary-General Angel Gurría.

The report gives estimates for mobilised private finance and public flows (estimates on public flows were already published in November 2018). It shows public climate finance is increasing again, after stalling in 2015, and is consistent with projections made by the OECD in 2016. Estimates of private finance in 2016-17 suggest that more needs to be done.

“Our estimates for 2013-2017 show that developed countries are making progress on climate finance and the indications are that this upward trend will continue. Multilateral development banks are reporting a significant rise in their climate finance outflows in 2018, which we will be analysing as soon as their activity-level data is available to us,” said Mr Gurría.

The amount of climate finance going to adaptation activities rose to USD 13.3 billion in 2017 from USD 9.1 billion in 2013, meaning adaptation now accounts for 19% of total climate finance, up from 17% in 2013. The share of climate finance going to mitigation activities was 73% in 2017, compared to 76% in 2013, with the rest going to crosscutting activities.

For public climate finance, the ratio of grants to loans was relatively stable over 2013-17. Grants made up over a third of bilateral and about 10% of multilateral finance, while loans represented 60% of bilateral and nearly 90% of multilateral finance. The share of grants in public climate finance in 2016-17 is higher for least-developed countries (36%) and small-island developing states (54%) than for developing countries as a whole (24%).

The private component of climate finance consists of private funding for climate projects mobilised by developed countries’ public climate finance instruments. These include investments in companies and special purpose vehicles, loan guarantees, credit lines, loan syndications and co-financing schemes. The public component consists of bilateral climate finance and multilateral climate finance attributable to developed countries. Officially supported climate-related export credits are accounted for as a separate component.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

From Hangzhou to Rwanda: how Jack Ma brought Chinese e-commerce to Africa

CDU-SPD agree the terms for EU’s Banking Union

Budget MEPs approve €34m in EU aid to Greece, Poland, Lithuania and Bulgaria

Spring 2019 Standard Eurobarometer: Europeans upbeat about the state of the European Union – best results in 5 years

America writes-off Iran, blocks Europe’s Tehran talks

Tech companies are changing, for the better

How music can help children with autism connect

UN chief welcomes event reuniting families on the Korean Peninsula

Central America: drought, resulting crop losses threaten food security of two million people, UN warns

Bertelsmann Stiftung @ European Business Summit 2014: Transatlantic Free Trade Agreement (TTIP) needs balanced approach

Prolonged economic crisis and drought demands urgent response for Zimbabwe’s ‘hardest hit’: UN relief chief

Impact investment favours expats over African entrepreneurs. Here’s how to fix that

ECB readies itself for extraordinary monetary measures defying Germany

Adoption of new rules to better protect children caught in cross-border parental disputes

EU budget: Commission helps prepare new Cohesion programmes with Regional Competitiveness Index and Eurobarometer

At epicentre of Indonesia disaster, Guterres praises resilience of Sulawesi people

Women ‘vital’ to peace efforts and ensuring long-lasting stability in Afghanistan

Online platforms: improving transparency and fairness for EU businesses

FROM THE FIELD: For refugees and migrants in Europe, healthcare’s essential but a challenge to find

Migrants and refugees face higher risk of developing ill-health, says UN report on displaced people in Europe

Human rights chief calls for international probe on Venezuela, following ‘shocking accounts of extrajudicial killings’

MARKUP initiative to boost market access to Europe for East African SMEs

“Two Pack” approved: Is democracy chased away from Brussels?

Medical ethics in the age of the social media influencers

The 2019 European elections: A pro-European – and young – electorate with clear expectations

Here are three technology trends changing the way you travel

The Junior Enterprise concept: Business & Education

Invisibility outside the closet: health as a right for all

We can build an inclusive workplace, and it starts with empathy

Misinformation and growing distrust on vaccines, ‘dangerous as a disease’ says UNICEF chief

Explained, the economic ties between Europe and Asia

How Islamic finance can build resilience to climate change

Key economic forum in Russia: New technology a ‘vector of hope’ but also ‘a source of fear’ says Guterres

‘Virtual Biopsy’ device detects skin tumours in 15 minutes

Dangerous Trumpism in the Middle East with an anti-European edge

Cameroon: Clear ‘window of opportunity’ to solve crises rooted in violence – Bachelet

Business models inspired by nature are the future

EU elections: The louder the threats and the doomsaying the heavier the weight of the vote

EU-wide rules for safety of drones approved by European Parliament

New Zealand has unveiled its first ‘well-being’ budget

#EUBeachCleanUp: EU organises record number of cleaning actions worldwide

Monday’s Daily Brief: global homicide figures, neo-Nazi recruitment, Kashmir, and migrants’ plight in USA

These clothes grow with your child

There are 3 barriers blocking good menstrual hygiene for all women. Here’s how we overcome them

Silicon Valley can do more to achieve the #GlobalGoals

16 foods that are good for you – and the planet

OECD Donor countries need to reform development finance to meet 2030 pledge

Use space technology to build a better world for all, urges UN chief

Final preparations for DCX and IFRA Expo 2019, in association with The European Sting

Parliament votes for €1 billion in aid to Ukraine

4 ways sporting events are becoming more sustainable

How bad could British healthcare get for its citizens abroad post-Brexit?

DR Congo: Ebola claims over 1,000 lives, Guterres commits ‘whole’ UN system, to help ‘end the outbreak’

2019 Innovation Scoreboards: The innovation performance of the EU and its regions is increasing

UN Envoy urges Burundi leaders to ‘seize opportunities for national unity and peace’

Banks launch green charter to help shipping reduce its carbon footprint

Tuesday’s Daily Brief: violence surges in Nigeria, anti-Semitism on the march, taxing pollution to tackle climate crisis, and more

Brexit Preparedness: European Commission adopts final set of “no-deal” contingency measures for Erasmus+ students, social security coordination rules and the EU budget

A Sting Exclusive: “China is Making Good Stories not Bad Ones”, Ambassador Yang highlights from Brussels

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s