OECD climate finance assessment: Climate Action Network reaction

29 May 2024

In response to the OECD’s latest assessment of progress towards the goal for developed countries to provide and mobilise USD 100 billion in annual climate finance for developing countries, Global Lead Multilateral Processes at Climate Action Network, Rebecca Thissen said:

“Meeting an unambitious objective with an outrageous delay is not something to be congratulated. The newly released OECD numbers may show some progress regarding the increased role of public climate finance and more finance going to adaptation. However, loans are again taking the lion’s share of climate finance, which goes against any concept of climate justice. 

Before any self-congratulatory statements, we shall not forget that the 100 billion promise was never based on real needs for adapting to climate change or reducing emissions in the Global South, and totally ignored losses and damages caused by climate impacts. Looking ahead, we must ensure the future climate finance goal reflects those real needs, provisioned primarily by public grant-based finance. This should be the focus and the core of the next negotiations on the road to COP29.”

ENDS/

Contact: media@climatenetwork.org