In 2009, rich countries promised to ramnp up climate finance to $100bn a year by 2020 to support climate action in lower-income countries low- and middle-income countries. According to the OECD, climate finance in 2022 stood at nearly $116 billion, reaching an surpassing the level originally promised for 2020.
In this new analysis, Oxfam estimates the impact of generous accounting pracitices that lead to significant over-estimation of provided support. By that estimate, the actual, support effort by developed countries specifically targeting climate action may have amlounted to a mere $28-35 billion, much lower than what officially reported figures seem to suggest.
This Methodoloy Note explains how the estimate was calculated.
Download Methodological Note (PDF, 17 Pages)
