Deutsche
Klimafinanzierung Der deutsche Beitrag zur internationalen Klimafinanzierung

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.

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The publication by Heinrich-Böll-Foundation provides an overview of the most important developments and facts on international climate finance in 2024. This includes the New Collective Quantitative Goal (NCQG), trends in financing commitments, the increase of adaptation finance, the multilateral climate funds (including the Green Climate Fund (GCF) and the Loss & Damage Fund) and gender and human rights in climate finance.

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Climate finance should be “new and additional” and not compete with the Sustainable Development Goals (SDG). Yet, a recent analysis by CARE shows that 93% of all climate finance reported by industrialized countries from 2011 to 2019 is coming from the already strained budgets of Official Development Aid (ODA).

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CARE conducted an analysis of climate finance plans that 26 industrialized countries submitted to the UNFCCC climate secretariat. The analysis highlights the existing gaps in funding, particularly on the goal to increase adaptation finance to 50% of total climate finance.

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Oxfam’s Climate Finance Shadow Report analyses the state of international climate finance regarding the fulfilment of the industrialised countries’ promise to increase financial support for climate mitigation and adaptation in poorer countries to 100 billion US dollars annually by 2020. To do so, the report examines the latest available current data (2019 and 2020), such as the thematic distribution of funds or the financial instruments chosen. The Climate Finance Shadow Report also estimates the actual support that rich countries target for climate mitigation and adaptation (“climate-specific net assistance”), which for 2020 amounts to up to $24.5 billion, well below what the officially reported figure of $83.3 billion suggests.

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The CFAS publication contributes to the debate of integrating finance flows for just transition approaches into the global climate finance architecture. In this context, the publication emphasizes the needs for just transition finance of commodity-dependent developing countries. Previously debates on just transition approaches mainly centred on the energy sector and often focussed on developed country perspectives. Thus, this publication aims to broaden the discussion on just transition finance and reflects an emerging perspective that goes beyond the energy sector and takes into account factors such as dependency on export commodities and countries’ development status.

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