OECD climate finance report confirms increasing reliance on private sector and loans
Guest blog by Bertha Iris Argueta Tejeda, Senior Policy and Advocacy Officer, Climate Justice Eurodad - the European Network on Debt and Development. She is an economist, and t focused on public policy in general and on the agricultural sector in particular. Originally published here. The OECD’s latest report on Climate Finance Provided and Mobilised by Developed Countries (covering 2013-2024) confirms a significant shift in how climate finance for Global South countries is being delivered. While the US$ 100 billion climate finance goal was exceeded for the third consecutive year, this is not being driven by increases in bilateral public funding, but by a growing reliance on private finance mobilisation and multilateral development banks (MDBs). Meanwhile, adaptation finance continues to lag behind despite growing needs in many vulnerable countries. This shift raises important questions about the future of climate finance under the New Collective Quantified Goal (NCQG) , wh...