Funding climate action: all in all...
It’s all there! For the first time in 2022, the amount raised exceeded the $100 billion per year promised at COP15 in Copenhagen (2009), which had previously fallen short of the target ($89.6bn in 2021 and $83.3bn in 2020). This represents no less than $115.9 billion to help emerging countries reduce their GHG emissions and adapt to climate change, and the trend is continuing: the countries of the world meeting in Baku at the end of November 2024 for COP29 approved an agreement providing at least 300 billion dollars in annual funding for developing countries. How does this financial aid work?
Who provides the funding and how?
How much?
THE TARGET of $100bn/year set at COP15 in Copenhagen for 2020 – confirmed at COP21 in 2015 and extended to 2025 – was exceeded for the first time in 2022. At the end of November 2024, the countries of the world meeting in Baku for COP29 approved an agreement providing at least 300 billion dollars in annual funding for developing countries.
WHO GETS THE MONEY?
REGIONS RECEIVING CLIMATE FINANCING
(All funding combined, in billions of dollars, 2022 annual average).
REGIONS RECEIVING CLIMATE FINANCING (All funding combined, in billions of dollars, 2022 annual average).
IN WHICH SECTORS?
DISTRIBUTION OF PROVIDED AND MOBILIZED CLIMATE FINANCE IN 2021/2022 (%)
DISTRIBUTION OF PROVIDED AND MOBILIZED CLIMATE FINANCE IN 2021/2022 (%)
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