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Climate Finance in 2013-14 and the USD 100 billion goal A report by the OECD in collaboration with Climate Policy Initiative Summary
Summary
Climate Finance in 2013-14 and the
USD 100 billion goal
A report by the OECD in collaboration with
Climate Policy Initiative
Summary
Improving transparency on climate finance and the USD 100 billion goal
• Climate Finance in 2013-14 and the USD 100 billion goal, launched on
7 October in collaboration with Climate Policy Initiative, provides an up-to-
date estimate of public and private climate finance in relation to the UNFCCC
commitment by developed countries in 2010 to mobilise USD 100 billion per year
by 2020 to address the needs of developing countries.
• The project was initiated at the request of the current and outgoing presidencies
of the UNFCCC Conference of Parties (COP), France and Peru, in the context of
enhancing transparency on climate finance ahead of COP21 in Paris.
• Building on efforts by the UNFCCC Standing Committee on Finance and the
international community, this report aims to be rigorous in its assessment of
the available data and is transparent about the underlying assumptions and
methodologies.
There have been significant improvements in the tracking of climate finance
Efforts are underway across the international community to improve definitions,
methodologies as well as the quality, consistency and coverage of available
data on climate finance. The report builds on these efforts and the significant
engagement of countries and development finance institutions, in order to present:
• Comprehensive (though preliminary) figures for public climate finance in 2013 and 2014.
• Partial estimates of mobilised private climate finance.
The accounting framework (illustrative, not to scale)
Concessional Non-concessional
Mobilised private finance
Exportcredits
Official developmentassistance (ODA)
Other officialflows (OOF)
The report transparently describes the accounting framework, methodologies, working
classifications and definitions drawn on to provide estimates of climate finance. These
assumptions were made without prejudice to any decisions under the UNFCCC.
The data and underlying methodologies build on efforts by the international community
over a number of years to improve the tracking of climate finance, in particular by
developed Parties to the UNFCCC, a group of Multilateral Development Banks (MDBs)
and members of the International Development Finance Club (IDFC) as well as by
the OECD (the Development Assistance Committee (DAC) and the OECD-hosted
Research Collaborative), CPI and other institutes.
Despite improvements to methodological approaches and data collection efforts that
support estimates such as this one, there remains significant work to be done to arrive
at improved estimates in the future.
Climate finance reaches USD 62 billion in 2014
Public and private finance mobilised by developed countries for climate action in
developing countries reached an estimated USD 62 billion in 2014, up from USD 52
billion in 2013. That represents an average of USD 57 billion annually over the 2013-14
period.
This aggregate volume does not include finance related to coal projects. However,
Japan and Australia consider that financing for high efficiency coal plants should also
be considered as a form of climate finance and, in addition to the figures in this report,
Japan has provided USD 3.2 billion for such projects in 2013-14.
Breakdown of climate finance in 2013, 2014 & the average over 2013-14 (USD billions)
2013 2014 Avg. 2013-14
Private co-finance mobilised (attributed)
Export creditsMultilateral public finance (attributed)
Bilateral publicfinance
22.5 bn 23.1 bn 22.8 bn
15.4 bn20.4 bn 17.9 bn
1.6 bn
1.6 bn1.6 bn
12.8 bn
16.7 bn14.7 bn
Total: 52.2 bn
Total: 61.8 bn
Total: 57.0 bn
The estimates presented in the report are preliminary and, in some instances partial
The vast majority of climate finance was public in origin – some 71% –
through either bilateral or multilateral channels. The figures are based on a
dedicated survey of what developed countries expect to report to the UNFCCC in
January 2016, and finance reported by key multilateral climate change funds and
Multilateral Development Banks that can be attributed to developed economies.
Mobilised private climate finance currently represents an estimated 26%.
The figures are based on private co-financing directly associated with public finance
interventions. As such, they do not capture the indirect mobilisation effect of capacity
building, policy-related interventions and the role played by broader enabling
environments. The estimate should also be considered as partial in so far as current
data availability across institutions and instruments varies. These limitations reflect
that the measurement and reporting of mobilised private finance is in its infancy and
remains work in progress, with varying degrees of data coverage currently available
across institutions and financial instruments.
Most climate finance is allocated towards climate change mitigation objectives
Of the aggregate estimate, 77% of climate finance is allocated towards climate
change mitigation objectives, 16% towards climate change adaptation and 7% to
activities that target both. The imbalance between mitigation and adaptation finance is
estimated to be greater for private finance (90% versus 10%) than public finance.
Mobilised climate finance in 2013-14, thematic allocation
Bilateral
PrivateExport credits
MDBs (attributed) Climate Funds
Mitigation
Mitigation
Adaptation
Adaptation
Cross-cutting
18 %
68 %
14 %
77 % 7 % 16 %
20 %
76 %
90 %100 %
10 %
69 %
29 %
2 %4 %
Why the OECD and CPI?
The OECD has extensive experience and expertise in tracking and analysing
international climate finance, both through the OECD Development Assistance
Committee (DAC) statistical framework and data on climate-related development
finance, and the work of the OECD-hosted Research Collaborative on Tracking Private
Climate Finance.
Climate Policy Initiative brings substantial knowledge on the overall landscape on
climate finance, and since 2011 has worked at the forefront of efforts to systematically
track global climate finance, and to address related methodological and
definitional issues.
The OECD and CPI remain committed to working with the international community to
help improve the understanding and transparency of climate finance.
More information
Access the report here:
www.oecd.org/environment/cc/oecd-cpi-climate-finance-report.htm
Contact us
(Head of the Climate, Biodiversity and Water Division)
(Lead analyst and Project manager)
(Policy analyst, private climate finance)
Senior Director of Climate Finance, CPI
OECD work on climate
www.oecd.org/environment/cc/
OECD at #COP21
www.oecd.org/environment/cc/cop21.htm
CPI
www.climatepolicyinitiative.org
