1. Aggregate trends

In 2019, total climate finance provided and mobilised by developed countries for developing countries was USD 79.6 billion in 2019, an increase of 2% from 2018 (Figure 1.1 and Table 1.1). A more than USD 20 billion annual jump would, therefore, be required to meet the USD 100 billion goal for 2020. Between 2018 and 2019, public climate finance increased by 2%: multilateral public climate finance attributable to developed countries grew by 15%, while bilateral public climate finance dropped by 10%. Meanwhile, climate-related export credits grew (but remain small in absolute terms), whereas private climate finance mobilised dropped by 4% (although that mobilised by bilateral public finance increased sharply).

Mitigation and adaptation finance both grew over 2016-18. In 2019, there was a noticeable further increase of adaptation finance by 20% (USD 3.4 billion), reaching USD 20.1 billion, but mitigation finance dropped by 7% (USD 3.7 billion) (Figure 1.2). Despite this, mitigation still represents two-thirds of total climate finance provided and mobilised by developed countries, driven notably by finance for activities in the energy and transport sectors. Taken together, these two sectors continue to represent close to half of total climate finance provided and mobilised in 2019 (Figure 1.3).

In 2019, public grant financing reached USD 16.7 billion, a 30% (USD 3.9 billion) increase relative to 2018, after remaining stable for three years. In contrast, the volume of public loans, which had increased significantly up to 2018, fell by 5% (USD 2.3 billion) in 2019 (Figure 1.4). The shares represented by loans (including both concessional and non-concessional) and grants were 71% and 27% of total public climate finance provided in 2019. Volumes of private climate finance mobilised by developed countries’ public climate finance dropped by 4% in 2019 compared to 2018 and 2017. Private finance mobilised by bilateral public climate finance (as per Table 1.1 above) via direct investment in companies and projects, simple co-financing schemes, and credit lines increased, while amounts mobilised by multilateral public climate finance (attributable to developed countries) through public guarantees and syndicated loans decreased (Figure 1.5). Deeper analyses of providers’ portfolios is needed to draw conclusions on these relatively modest volumes and on factors that impact the effectiveness of public finance in mobilising private finance.

Asia remains the main beneficiary region of climate finance provided and mobilised by developed countries (USD 30.6 billion on average per year over 2016-2019, or 43%), significantly ahead of Africa and the Americas (Figure 1.6). While climate finance for Least Developed Countries (LDCs) continued to increase in 2019, climate finance for Small Island Developing States (SIDS) did not (Figure 1.7). For both categories, finance for adaptation represents more than 40% on average over 2016-2019, which is significantly higher than the average for developing countries overall (21% on average over 2016-2019, see Figure 1.2 above).


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