OECD Report Reveals Developed Countries Missed Climate Finance Pledge

According to a report released on 16th November, 2023 by the Organisation for Economic Co-operation and Development (OECD), economically developed countries failed to fulfil their commitment to jointly mobilize $100 billion annually for climate mitigation and adaptation in developing countries, falling short by $10.4 billion in 2021.

Key Points

  • Missed Target: Developed nations, including the U.S., the U.K., Germany, and others, mobilized $89.6 billion in 2021, missing the 2020 deadline for the promised $100 billion annual climate finance for developing nations.
  • Adaptation Finance Decline: The report highlighted a 14% decrease in finance for adaptation in 2021 compared to the previous year, ....
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