Climate finance in 2013-14 and the USD 100 billion goal
Developed countries committed to mobilise jointly USD 100 billion a year in climate finance by 2020 for climate action in developing countries. Five years after the initial commitment was made at COP15 in Copenhagen in 2009 and six years ahead of the target date of 2020, this report provides a status check on the level of climate finance mobilised by developed countries in 2013 and 2014. There has been significant progress in meeting this goal. The preliminary estimates provided in this report are that climate finance reached USD 62 billion in 2014 and USD 52 billion in 2013, equivalent to an annual average over the two years of USD 57 billion. The report aims to be transparent and rigorous in its assessment of the available data and the underlying assumptions and methodologies, within the constraints of an aggregate reporting exercise. Methodological approaches and data collection efforts to support estimates such as this one are improving. Nevertheless, there remains significant work to be done to arrive at more complete and accurate estimates in the future, as outlined in the report. The OECD and CPI stand ready to support such efforts.