According to a new OECD study in collaboration with Climate Policy Initiative (CPI), public and private finance mobilised by developed countries for climate action in developing countries reached $62 billion in 2014. This is a 410billion increase from $52 billion in 2013.
Climate Finance in 2013-14 and the USD 100 billion goal provides a robust, up-to-date estimate of public and private climate finance mobilised by developed countries towards their UNFCCC 2010 Cancun commitment, in the context of meaningful mitigation actions and transparency on implementation, to jointly mobilise USD 100 billion per year by 2020 to address the needs of developing countries to tackle and adapt to climate change.
“We are about halfway in terms of time and more than halfway there in terms of finance, but clearly there is still some way to go,” said OECD Secretary-General Angel Gurría, presenting the estimate in Lima ahead of a ministerial climate financing meeting.
The estimate of climate finance was prepared at the request of the Peruvian and French governments in the context of their responsibilities as the current and incoming presidencies of the UNFCCC Conference of Parties (COP). Climate finance flows are an important element of the negotiations in the lead up to COP21 in Paris, where countries are expected to finalise a new universal agreement on responses to climate change beyond 2020.
The OECD’s estimate comprises public money provided by donor governments through various instruments and institutions, including non-concessional loans. It also includes private funding for climate-related projects that have been directly mobilised by developed country public financial interventions.

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