In this new report, launched ahead of COP25, the authors track the newest patterns in climate finance, which crossed the USD half-trillion mark for the first time in 2017/2018.
Average annual public climate finance, in particular, totaled USD 253 billion in 2017/2018, representing 44% of total commitments. Domestic, bilateral, and multilateral development finance institutions (DFIs) continue to account for the majority of public finance, while the governments and their agencies doubled their commitment to a total of USD 37 billion in 2017/2018. The sectors benefiting the most from these expenditures are low-carbon transport, renewable energy and energy efficiency.
However, these commitment still fall short of the investments needed to achieved Paris Agreement targets. The authors argue for the public and private actors to coordinate rapidly, in order to scale up finance in sectors beyond renewable energy generation. To read the full report, follow the link to CPI’s website.