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14th November 2022 (7 Topics)

Behind the smokescreen around private climate finance

Context:

Grant-based and concessional international public climate finance has a key role in addressing the needs and priorities of developing countries.

Unachieved goals

  • $100 billion goal: UNFCCC Standing Committee on Finance (SCF), report says that the $100 billion goal is unaccomplished, & the mobilization of private funds by developed countries hasn’t yielded.
  • Sources of Data: The SCF report relied mainly on the Organisation for Economic Co-operation and Development (OECD) and Oxfam reports for aggregate climate finance trends.
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