Climate finance campaigners have raised red flags over $343 billion of climate finance after conducting an analysis of data reported to the Organisation for Economic Co-operation and Development.
“Nearly two-thirds of climate finance commitments counted by the OECD between 2013 and 2021 — a staggering $343 billion — are never reported as disbursed or had little connection to climate,” the ONE Campaign, an anti-poverty organization, said in a press release.
Today marks the first day of the COP 28 United Nations climate conference. World leaders are expected to use the annual event to announce that they have hit a target to provide $100 billion of climate finance to lower-income countries, albeit two years late.
Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).
About the author
David Ainsworth@daveainsworth4
David Ainsworth is business editor at Devex, where he writes about finance and funding issues for development institutions. He was previously a senior writer and editor for magazines specializing in nonprofits in the U.K. and worked as a policy and communications specialist in the nonprofit sector for a number of years. His team specializes in understanding reports and data and what it teaches us about how development functions.
