Climate Finance Provided and Mobilised by Developed Countries in 2013-2022

Data and methods

Accounting framework and scope

OECD analyses and assessments of progress towards the USD 100 billion goal are based on best-available data and a robust accounting framework. This framework is consistent with the outcome of CMA1, decided by all Parties to the Paris Agreement regarding the funding sources and financial instruments for reporting information on financial support provided and financial support mobilised through public interventions. OECD figures capture four distinct components of climate finance provided and mobilised by developed countries:

• Bilateral public climate finance provided by developed countries’ institutions, notably bilateral aid agencies and development banks,

• Multilateral public climate finance provided by multilateral development banks and multilateral climate funds, attributed to developed countries,

• Climate-related officially supported export credits, provided by developed countries’ official export credit agencies, and

• Private finance mobilised by bilateral and multilateral public climate finance, attributed to developed countries.

These four components are captured drawing on three sources of official activity-level data reported by bilateral and multilateral providers of climate finance. Table 2 summarises the different time lags in the availability of the relevant data, which accounts for the time required each year to produce verified and quality-assured figures of progress toward the USD 100 billion goal. Producing aggregate figures within a shorter timeframe requires international providers to report ahead of official reporting arrangements. This applies in particular to bilateral providers, as under the UNFCCC Enhanced Transparency Framework (ETF) reporting rules, there would be a 3–4-year time lag between the reported year and when information is made available.

Table 2. Overview of time lags in availability of official climate finance data

Dataset	Source	2019	2020	2021	2022	2023	2024	2025
Bilateral public	UNFCCC	Q1 2022	Q1 2022	Q1 2025	Q1 2025	Q1 2027	Q1 2027	Q1 2029
Multilateral public	OECD DAC	Q1 2021		Q1 2023	Q1 2024	Q1 2025	Q1 2026	Q1 2027
Export credits	OECD ECG
Mobilised private	OECD DAC

Note: DAC: Development Assistance Committee; ECG: Export Credit Group. The timing indicated relates to standard reporting and quality assurance practices. Experience shows that some countries and institutions typically report earlier, while others experience delays. Starting in 2024, reporting to the UNFCCC is to be based on the Paris Agreement’s Enhanced Transparency Framework (ETF); while the implementation of the ETF is intended to result in more climate finance data being reported to the UNFCCC (e.g. on private finance mobilised), it also increased time lags as relevant Parties are to report at the end of every second year rather than the start of such year under pre-ETF arrangements.

Detailed information on the methodologies used to account for climate finance provided and mobilised towards the USD 100 billion goal are presented in Annex A of (OECD, 2022[8]). The following sections of the present report provide a selection of important methodological elements relating to the geographical scope of the USD 100 billion goal: a full list of individual countries considered respectively as developed countries (providers) and developing countries (beneficiaries), and the percentages calculated by the OECD to account for the share of finance attributable to developed countries that is provided and mobilised by multilateral institutions.

Developed and developing countries

For the purpose of this report’s analysis and figures, the following classifications are used, without prejudice to the definitions of those terms, noting that neither group is defined under the Paris Agreement:

• “Developing countries”, which refer to countries and territories included on the 2018 Development Assistance Committee (DAC) List of Official Development Assistance (ODA) Recipients for development finance and/or on the non-Annex I list of Parties to the UNFCCC.

• “Developed countries”, which include Annex II Parties to the UNFCCC, all Member States of the European Union, as well as Liechtenstein and Monaco.

Countries and territories that do not fall in these categories (most notably Russia) are not covered by the analysis.

Table 3. Developing countries: Non-Annex I Parties to the UNFCCC on the DAC List of ODA Recipients in 2018

Afghanistan	Dominica	Liberia	Saint Lucia
Albania	Dominican Republic	Libya	Saint Vincent and the Grenadines
Algeria	Ecuador	Madagascar	Samoa
Angola	Egypt	Malawi	Sao Tome and Principe
Antigua and Barbuda	El Salvador	Malaysia	Senegal
Argentina	Equatorial Guinea	Maldives	Serbia
Armenia	Eritrea	Mali	Sierra Leone
Azerbaijan	Eswatini	Marshall Islands	Solomon Islands
Bangladesh	Ethiopia	Mauritania	Somalia
Belize	Fiji	Mauritius	South Africa
Benin	Gabon	Mexico	South Sudan
Bhutan	Gambia	Micronesia	Sri Lanka
Bolivia	Georgia	Moldova	Sudan
Bosnia and Herzegovina	Ghana	Mongolia	Suriname
Botswana	Grenada	Montenegro	Syrian Arab Republic
Brazil	Guatemala	Morocco	Tajikistan
Burkina Faso	Guinea	Mozambique	Tanzania
Burundi	Guinea-Bissau	Myanmar	Thailand
Cabo Verde	Guyana	Namibia	Timor-Leste
Cambodia	Haiti	Nauru	Togo
Cameroon	Honduras	Nepal	Tonga
Central African Republic	India	Nicaragua	Tunisia
Chad	Indonesia	Niger	Turkmenistan
China (People’s Republic of)	Iran	Nigeria	Tuvalu
Colombia	Iraq	Niue	Uganda
Comoros	Jamaica	North Macedonia	Uzbekistan
Congo	Jordan	Pakistan	Vanuatu
Cook Islands	Kazakhstan	Palau	Venezuela
Costa Rica	Kenya	Panama	Viet Nam
Côte d’Ivoire	Kiribati	Papua New Guinea	West Bank and Gaza Strip
Cuba	Kyrgyzstan	Paraguay	Yemen
Democratic People’s Republic of Korea	Lao People’s Democratic Republic	Peru	Zambia
Democratic Republic of the Congo	Lebanon	Philippines	Zimbabwe
Djibouti	Lesotho	Rwanda

Table 4. Developing countries: Non-Annex I Parties to the UNFCCC beyond DAC ODA Recipients in 2018

Andorra	Chile	Republic of Korea	Saint Kitts and Nevis
Bahamas	Israel	San Marino	Trinidad and Tobago
Bahrain	Kuwait	Saudi Arabia	United Arab Emirates
Barbados	Oman	Seychelles	Uruguay
Brunei Darussalam	Qatar	Singapore

Table 5. Developing countries: DAC ODA Recipients in 2018 beyond Non-Annex I Parties to the UNFCCC

Belarus	Montserrat	Türkiye	Ukraine
Kosovo	Saint Helena	Tokelau	Wallis and Futuna

Table 6. Developed countries

Australia	European Union	Latvia	Portugal
Austria	Finland	Liechtenstein	Romania
Belgium	France	Lithuania	Slovak Republic
Bulgaria	Germany	Luxembourg	Slovenia
Canada	Greece	Malta	Spain
Croatia	Hungary	Monaco	Sweden
Cyprus	Iceland	Netherlands	Switzerland
Czechia	Ireland	New Zealand	United Kingdom
Denmark	Italy	Norway	United States
Estonia	Japan	Poland

Shares for attributing multilateral finance to developed countries

Data on multilateral public climate finance and private climate finance mobilised by multilateral agencies’ interventions presented in the series of OECD reports on “Climate Finance and the USD 100 billion goal” only considers the share of finance that is attributable to developed countries. Multilateral institutions are typically funded or capitalised by core contributions from both developed and developing countries. Institutions that operate with a financial business model use these contributions as a basis for raising additional finance from the capital markets.

A specific methodology is, therefore, needed to calculate, for each institution, the share of its outflows attributable to developed countries, with the remainder being attributable to developing countries (see Box 3 above). Such calculation considers the most recent and historical replenishment participations by individual countries, as well as, where applicable, the institutions’ capacity to raise funds from the capital markets. Table 7 provides the resulting attribution shares, which were last updated in 2020, except for the International Monetary Fund Resilience and Sustainability Trust (IMF RST) that first committed funds in 2022, and for which an attribution share was calculated in the context of preparing the present report.

Table 7. Calculated shares of multilateral climate finance attributable to developed countries

Type of institution	Institution name	Abbreviation	2015	2018	2020	2024
Multilateral Development Banks	African Development Bank	AfDB	59.0%	56.4%	61.2%	-
	African Development Fund	AfDF	94.0%	93.6%	93.4%	-
	Asian Development Bank	AsDB	71.0%	71.4%	71.6%	-
	Asian Development Bank Special Fund	AsDF	96.0%	95.2%	N/A	-
	Asian Development Bank Credit Guarantee and Investment Facility	CGIF	N/A	N/A	42.8%	-
	Asian Infrastructure Investment Bank	AIIB	N/A	27.3%	28.6%	-
	Black Sea Trade and Development Bank	BSTDB	N/A	N/A	44.2%	-
	Caribbean Development Bank	CDB	N/A	34.6%	34.6%	-
	Central American Bank for Economic Integration	CABEI	N/A	N/A	5.2%	-
	Council of Europe Development Bank	COEB	N/A	93.7%	93.7%	-
	Development Bank of Latin America	CAF	N/A	4.6%	4.8%	-
	European Bank for Reconstruction and Development	EBRD	89.0%	91.4%	91.4%	-
	European Investment Bank	EIB	99.0%	100.0%	100.0%	-
	International Bank for Reconstruction and Development	IBRD	70.0%	69.9%	71.3%	-
	International Development Association	IDA	95.0%	95.9%	95.9%	-
	Inter-American Development Bank	IADB	74.0%	73.6%	73.9%	-
	Inter-American Development Bank Special Fund	-	73.0%	72.5%	N/A	-
	IDB Invest	IDB Invest	N/A	33.6%	34.4%	-
	International Finance Corporation	IFC	64.1%	65.4%	65.4%	-
	International Investment Bank	IIB	N/A	52.2%	51.7%	-
	Multilateral Investment Guarantee Agency	MIGA	64.3%	66.1%	66.2%	-
	North American Development Bank	NADB	N/A	N/A	63.2%	-
	Private Infrastructure Development Group	PIDG	N/A	99.5%	99.5%	-
Multilateral Climate Funds	Adaptation Fund	AF	100.0%	100.0%	100.0%	-
	Climate Investment Funds	CIFs	100.0%	99.0%	99.9%	-
	Global Environment Facility Trust Funds	GEF	98.0%	98.0%	97.6%	-
	Global Environment Facility Least Developed Countries Fund	GEF LDCF	100.0%	100.0%	100.0%	-
	Global Environment Facility Special Climate Change Fund	GEF SCCF	100.0%	100.0%	100.0%	-
	Green Climate Fund	GCF	N/A	99.6%	99.0%	-
	International Fund for Agricultural Development	IFAD	N/A	74.2%	71.0%	-
	International Monetary Fund Resilience and Sustainability Trust	IMF RST	N/A	N/A	N/A	77.5%
	Nordic Development Fund	NDF	100.0%	100.0%	100.0%	-

Note: The 2015 percentages apply to 2013, 2014 and 2015 multilateral climate finance outflow data. The 2018 percentages apply to 2016, 2017 and 2018 data, and those for 2020 to 2020, 2021, and 2022. For some multilateral institutions, the 2015 and 2018 were adjusted compared to the ones previously used, to reflect retroactive data updates. The merger of the AsDB ordinary capital resources (OCR) balance sheet with the lending operations of the AsDF and the transfer of the IADB-FSO assets to the IADB OCR became effective at the start of 2017. Climate finance outflows from the GCF, the IDB Invest (previously Inter-American Investment Corporation; IIC) and the AIIB were first recorded in OECD DAC statistics in 2015, 2016 and 2017 respectively. Climate finance outflows from IFAD, CEB and CAF were first included in the present figures in 2018 and those from BSTDB, CABEI, NADB and PIDG in 2020 (climate finance in relation to these institutions was recorded either at the inflow point or was not covered altogether), and the IMF RST in 2022 (first commitments by the fund).

Source: OECD calculations based on annual reports and websites of each of the listed institutions.