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.