Developed countries exceeded the USD 100 billion annual goal in 2022

Developed countries provided and mobilised USD 115.9 billion in climate finance for developing countries in 2022, exceeding the annual 100 billion goal for the first time and reaching a level that had not been expected before 2025.

The 2022 climate finance data shows that public funds continue to make up the bulk of climate finance, accounting for 80% of the total. The growth in public climate finance was accompanied by a jump of 52% in mobilised private finance, reaching USD 21.9 billion in 2022 after several years of relative stagnation. The figures also show an uptick in climate finance destined for adaptation action. After a small drop in 2021, adaptation finance reached USD 32.4 billion in 2022, three times the 2016 level. In 2022, developed countries were about halfway towards meeting the 2019 COP26 Glasgow Climate Pact’s call to double the provision of adaptation finance by 2025.

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