- Department for Business, Energy & Industrial Strategy
- Part of:
- Climate change impact in developing countries and Climate change international action
- 24 October 2016
The United Kingdom, with Australia, has led developed countries to deliver a ‘Roadmap’ to meeting the collective goal of mobilising US$100 billion a year in climate finance for developing countries by 2020.
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The Roadmap aims to provide increased predictability and transparency about how the goal will be reached, and sets out the range of actions developed countries will take to meet it. Drawing on analysis by the Organisation of Economic Co-operation and Development (OECD), the Roadmap shows that developed countries are well-placed to meet the US$100 billion goal, through a combination of public and mobilised private finance.
The Paris Agreement was a historic demonstration of all countries’ collective commitment to address climate change. As part of the Paris outcome, developed countries were urged to scale-up their level of support with a concrete roadmap to achieve the goal of mobilising US$100 billion per year by 2020 for climate action in developing countries. In 2016, developed countries worked together to develop the Roadmap, including through consultations with developing countries.
To provide analytical support for the preparation of the Roadmap, a group of developed countries asked the Organisation for Economic Co-operation and Development (OECD) to analyse the possible impact of countries’ pledges on finance levels in 2020 based on what is known, or can be reasonably assumed, at the present time.
According to analysis by the OECD (2016), pledges made in 2015 alone will boost public finance from an average of US$41 billion over 2013-14 to US$67 billion in 2020 – an increase of US$26 billion. The OECD (2016) analysis indicates that the amount of public adaptation finance (bilateral and attributed multilateral) is projected to at least double in volume between 2013-14 and 2020.
Developed countries are confident that the US$100 billion goal will be met from a variety of sources, and reaffirm their commitment to doing so through the range of actions outlined in the Roadmap.
Published: 24 October 2016