New data from the Organisation for Economic Co-operation and Development (OECD) indicates that climate ?nance provided and mobilised by developed countries increased to USD 132.8 billion in 2023 and USD 136.7 billion in 2024. While this suggests continued growth, campaigners argue that the headline ?gures hide deeper structural problems.
according to critics, the OECD’s accounting approach has long been seen as overstating actual climate ?nance delivered.
as a result, the reported increase may be signi?cantly smaller under stricter and more transparent accounting rules. At the same time, many developed countries are reducing overall development aid budgets, raising concerns that climate ?nance is increasingly being drawn from shrinking aid pools rather than representing genuinely new and additional funding.