Private climate investments increased by 13% from 2017/2018, to USD 310 billion. Direct finance flows (domestic and international) from governments increased by 17% in 2019/2020, accounting for 12% of public flows (USD 38 billion) driven by low-carbon transport and delivered primarily through grants. State-owned financial institutions’ share increased to 14% in 2019/2020, partly due to improved data on the flows in East Asia & Pacific, as well as an uptake of renewable energy financing in the region. Development Finance Institutions (DFIs) continued to deliver the majority of public finance, contributing 68% (USD 219 billion). Public climate finance increased by 7% from 2017/2018, remaining largely stable at 51% (USD 321 billion) of the total. Moreover, data on adaptation finance from the private sector is still largely missing. ![]() ![]() The public sector continues to provide almost all adaptation financing, with adaptation increasingly being prioritized in development finance climate portfolios, yet adaptation finance represented just 14% of total public finance. UNEP’s Adaptation Gap Report (UNEP, 2021) estimates that annual adaptation costs in developing economies will be in the range of USD 155 to USD 330 billion by 2030. ![]() Despite this positive trend, total adaptation finance remains far below the scale necessary to respond to existing and future climate change. Finance for adaptation increased by 53% reaching USD 46 billion in 2019/2020 compared to USD 30 billion in 2017/2018. An increase of at least 590% in annual climate finance is required to meet internationally agreed climate objectives by 2030 and to avoid the most dangerous impacts of climate change.Īdaptation finance continues to lag.
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