Aligning finance and investment for climate action

The OECD is building on its broad range of expertise to support the alignment of all forms of finance with the objectives of the Paris Agreement and with broader sustainability goals, across the finance, investment and development finance communities. This includes a particular focus on sustainable finance for developing countries, green public procurement, and a focus on supporting private sector-led action on climate change.

Climate finance

Annual climate finance provided and mobilised by developed countries for developing countries.

The OECD’s seventh assessment of progress towards the UNFCCC goal finds that in 2022 developed countries provided and mobilised a total of USD 115.9 billion in climate finance for developing countries, exceeding the annual USD 100 billion goal for the first time. This achievement occurs two years later than the original 2020 target year, but one year earlier than in projections produced by the OECD prior to COP26. 

Released on 29 May 2024: Climate Finance Provided and Mobilised by Developed Countries in 2013-2022.

Driving transformative change in the financial system

Clean Energy Finance and Investment Mobilisation

The CEFIM programme supports finance and investment in clean energy in emerging economies in Asia and Latin America. It focuses on strengthening domestic enabling conditions to help scale-up bankable clean energy projects.

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Finance for Climate Action

Explore the work of the OECD Research Collaborative on Tracking Finance for Climate Action on data, methods and pilot studies to assess the consistency of investments and financing with climate mitigation and resilience policy goals.

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OECD Centre on Green Finance and Investment

Investment in the green economy needs to take place on a far greater scale over coming decades. The Centre’s mission is to help this transition through the development of effective policies, institutions and instruments for green finance and investment.

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Paris Collaborative on Green Budgeting

The Paris Collaborative on Green Budgeting was launched by the OECD at the One Planet Summit. It aims to design new, innovative tools to assess and drive improvements in the alignment of national expenditure and revenue processes in line with climate and other environmental goals.

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Responsible Business Conduct

Governments and non-state actors, in particular the private sector, need to work together to reach climate goals. Companies that are able to integrate climate risks and impacts within their operations are better able to meet investor and consumer expectations, mitigate reputational damage, increase competitiveness, and protect their bottom line.

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Sustainable finance taxonomies

A number of countries have created official definitions of sustainable finance and more comprehensive classification systems, which can improve market clarity, bring confidence and assurance to investors, and facilitate the measurement and tracking of sustainable finance flows. OECD work focuses on setting out preliminary considerations for good taxonomy design.

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Finance mechanisms

Subnational Government Climate Finance

Given the urgency of the climate crisis, it is more important than ever to improve our understanding of the financial role of subnational governments in the transition. The OECD is tracking progress in regions and cities and identifying areas where further action is needed.

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Blended finance

Blended finance is an innovative approach for donor governments, development co-operation agencies, philanthropies and other stakeholders, to attract commercial capital towards projects that contribute to sustainable development, while providing financial returns to investors.

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Institutional investment

Building green is imperative to achieve global climate and development commitments. Private investment in particular is needed to bridge the infrastructure investment gap, given institutional investors’ large pools of long-term capital. Where do investments stand today?

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Environmental, Social and Governance investing

A growing number of institutional investors and funds now incorporate various ESG investing approaches, spurred by shifts in demand for better alignment between societal values and long-term financial value.

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