Deutsche
Klimafinanzierung Der deutsche Beitrag zur internationalen Klimafinanzierung

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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In 2009, high-income countries promised to provide $100bn a year in climate finance to low- and middle-income countries by 2020. They have failed to keep this promise. Their official reports claim that the climate finance they provided and mobilized reached $83.3bn in 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, net support value of climate-targeted finance to low-income countries may have amlounted to a mere $21-24.5 billion, much lower than what officially reported figures suggest. The analysis also shows that there are too many loans, too much debt, too few grants, too little for adaptation, and too much misleading accounting in climate finance.

This paper sets out recommendations for action at COP27 and beyond to rectify these issues, restore trust in climate finance and stop the world’s poorest climate-vulnerable countries and communities being short-changed of the climate finance they urgently need, and to which they are entitled.

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Download Methodological Note (PDF, 7 Pages)

Germany’s presidency of the 2022 G7 process offers a unique opportunity for the new German government to advance the global climate finance agenda – and make good for some of the rich countries’ (including Germany’s) shortfalls of the past. This policy brief jointly produced by Germanwatch, CARE and Oxfam describes five key areas for advancing climate finance in 2022 by the G7.

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The publication “Unpacking Finance for Loss and Damage” draws lessons from COVID‑19 for addressing loss and damage in vulnerable developing countries and gives an overview from and needs and potential sources for financing loss and damage.

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