Wealthy Nations Finally Meet $100 Billion Climate Finance Commitment

OECD confirms that developed countries surpassed their climate finance goal in 2022, two years later than promised.

Developed nations provided $116 billion in 2022, exceeding the $100 billion target set for 2020.
The delay in meeting the goal has strained trust between wealthy and developing countries.
Public financing accounted for nearly 80% of the total, with significant contributions from development banks.
Negotiations are underway to establish a new, more ambitious climate finance target for post-2025.
Developing countries will need an estimated $2.4 trillion annually by 2030 to address climate impacts.