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Global Landscape of Climate Finance 2024: Insights for COP29 (Climate Policy Initiative)

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ReportClimate Policy InitiativeJanuary 202421 pages32 min readOriginal source

Summary

  • Global climate finance flows almost doubled between 2018 and 2022.p.5
  • Fossil fuel investment continued to increase since 2020.p.6
  • A fivefold increase in climate finance is required through 2030.p.7
  • Adaptation finance more than doubled between 2018 and 2022 but is currently at just one-third of the volume required.p.11
  • Grants increased from 42% to 49% of total international public finance to LDCs between 2018 and 2022.p.16
  • Emerging markets and developing economies (EMDEs) are a diverse group of 163 countries.p.14

Key insights

  1. The report reflects on key trends observed between 2018 and 2022.p.2
  2. Delaying action will result in higher costs and increased financing needs in the future.p.8
  3. Energy, industry, AFOLU and waste sectors have high mitigation potential but are starkly underfunded.p.10
  4. The climate finance gap narrowed marginally, driven by increased flows in advanced economies and some EMDEs.p.13
  5. Many EMDEs (excluding LDCs) made significant progress in mobilizing domestic climate finance.p.15
  6. Energy and transport sectors show a solid sign of maturity in advanced economies.p.17

Topics and entities

GlobalClimate and impact investmentPublic funding and grantsClimate Policy InitiativeUNFCCC

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