COPENHAGEN — The world’s richest countries made good on their promise to provide at least $100 billion in annual climate aid to developing nations for the third year running, new data shows.
Climate finance provided by developed countries hit €136.7 billion in 2024 and €132.8 billion in 2023, according to a report released Thursday by the OECD.
That marks a significant increase from the €115.9 billion reached in 2022, the first year that rich countries managed to meet — belatedly — a 2009 pledge to arrive at €100 billion by 2020. The failure to deliver the promised amount in time has stoked tensions between developed and developing nations at global climate conferences.
A secondary target of doubling funding for poorer countries to prepare their infrastructure and economies for climate disasters to roughly $40 billion by 2025 remains elusive, the OECD data shows, with the amount earmarked for such efforts reaching only €34.7 billion in 2024.
