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OECD 2022: Developed Nations Funded $115.9B for Climate Change in Developing Countries

Published on June 04, 2024
Current Context: The OECD released a report titled “Climate Finance Provided and Mobilised by Developed Countries in 2013-2022” on 29 May 2024.
OECD 2022: Developed Nations Funded $115.9B for Climate Change in Developing Countries
  • Developed countries provided and mobilised a total of USD 115.9 billion in climate finance for developing countries in 2022.
  • This is the first time the annual goal of USD 100 billion has been exceeded.
  • Public climate finance accounted for close to 80% of the total in 2022.
  • Adaptation finance reached USD 32.4 billion in 2022, three times the 2016 level.
  • Mitigation represented 60% of the total.
  • Private finance mobilised by public climate finance grew by 52%.
  • The report underscores the need for international providers to significantly scale up their efforts in adaptation finance and the mobilisation of private finance.

Question:

1. How much did developed countries provide and mobilise in climate finance for developing countries in 2022?

  • A) USD 115.9 billion
  • B) USD 100 billion
  • C) USD 80 billion
  • D) USD 150 billion
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