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Global Landscape of Climate Finance 2023
November 17 , 2023
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- Average annual flow of climate finance in 2021 and 2022 was $1.3 trillion, twice the $653 billion of 2019 and 2020.
- Renewable energy (RE) and transport continue to display most growth, with the former comprising 44 per cent of total mitigation finance and the latter 29 per cent of it.
- The United States, Europe, Brazil, Japan, China and India received 90 per cent of the funds for clean energy.
- Adaptation finance has reached an all-time high of US $63 billion.
- But still does not measure up to the estimated needs of $212 billion per year by 2030 just for developing nations.
- East Asia and the Pacific, US and Canada and Western Europe accounted for a total of 84 percent of all the climate finance.
- Developing and low-income countries continue to face a paucity of funds. Less than 3 per cent of a total $30 billion went to or within least developed countries.
- The 10 countries most affected by climate change between 2000 and 2019 received just $23 billion; less than 2 per cent of total climate finance.
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