Hero Background

Financial Flows

READ MORE
CLOSE

Speeding up and scaling up finance into clean energy and energy efficiency, greening infrastructure, sustaining ecosystems like forests and coral reefs and enabling countries and communities to adapt is essential to staying below 2C degrees. Check out what's happening and how to benefit.

Header Image

A number of Parties and multilateral development banks have made recent announcements on their climate finance contributions in the context of the goal of jointly mobilizing USD 100 billion per year by 2020. The table below shows what has been publicly announced, many either newly announced or restated at the latest IMF/World Bank meeting in Lima.

Parties

Contribution

Timeframe

Description

Germany

 

19 May 2015

 

Sixth Petersberg Climate Dialogue, Berlin

EUR 4bn

By 2020

Chancellor Angela Merkel announced that Germany is to double its contribution to international climate finance to 4 billion euros by 2020 on the basis of 2014 figures. Germany has quadrupled state-funded climate finance since 2005, bringing the total to about 2 billion euros in 2013. (Note that to this sum must also be added over 1.5 billion euros in loans extended by the KfW Group for climate change mitigation and adaptation to climate change in developing countries.)

United Kingdom

 

27 Sep 2015

 

United Nations General Assembly 2015, New York

GBP 5.8bn

April 2016 – March 2021

The government will provide £5.8 billion from the existing 0.7% official development assistance (ODA) budget to the International Climate Fund between April 2016 and March 2021, including at least £1.76 billion in 2020.

France

 

28 Sep 2015

 

United Nations General Assembly 2015, New York

EUR 5bn

By 2020

France confirmed that it would, by 2020, increase its annual climate finance effort from €3bn currently to more than €5bn through: (i) €4bn more loans by Agence Française de Développement, of which 50% have climate cobenefits, and (ii) €370 million more grants, mainly for adaptation.

European Union

 

9 Oct 2015

 

Climate Finance Ministerial Meeting, Lima

20% of EU budget (at least EUR 14bn from 2014-20)

By 2020

At least 20% of the EU budget will be spent on climate action by 2020. This means that at least EUR 14 billion, an average of EUR 2 billion per year, of public grants will support activities in developing countries between 2014 and 2020. Compared to the average level in 2012-2013, funding for international climate action will more than double.

Netherlands

 

9 Oct 2015

 

Climate Finance Ministerial Meeting, Lima

 €540 million  2016  Netherlands announced that it would increase its climate finance effort by €100 million in 2015 (to €440 million) and by €100 million more in 2016 (to €540 million).
 

Luxembourg

 

9 Oct 2015

 

Climate Finance Ministerial Meeting, Lima 
 €120 million  2014-2020  Luxembourg reiterated that its climate finance contribution would reach the cumulative amount of €120 million over the 2014-2020 period

Sweden

 

9 Oct 2015

 

Climate Finance Ministerial Meeting, Lima
No figure 2016 Sweden announced its intention to nearly double bilateral climate support in 2016 compared to 2015.

 

Six multilateral development banks (MDBs) have announced an increase of their climate finance for the period leading to 2020.

 

Multilateral Development Banks

Contribution

Timeframe

Description

European Investment Bank (EIB)

 

22 Sep 2015

 

EIB's Board of Directors Meeting, The Hague

35% of lending support

By 2020

The European Investment Bank announced that it would aim to increase from 25% to 35% of annual commitments for climate change.

Asian Development Bank (ADB)

 

25 Sep 2015

 

UN Sustainable Development Summit, New York

USD 6bn

By 2020

Asian Development Bank (ADB) President Takehiko Nakao announced that ADB will double its annual climate financing to $6 billion by 2020, up from the current $3 billion. Out of the $6 billion, $4 billion will be dedicated to mitigation through scaling up support for renewable energy, energy efficiency, sustainable transport, and building smart cities. $2 billion will be for adaptation through more resilient infrastructure, climate-smart agriculture, and better preparation for climate-related disasters.

European Bank for Reconstruction and Development (EBRD)

 

30 Sep 2015

 

Statement by EBRD President Suma Chakrabarti

EUR 18bn

2016 – 2020

 

The European Bank for Reconstruction and Development (EBRD) is aiming for green financing to total some €18 billion over the next five years.EBRD would deliver as much green financing in the next five years as it has in the last ten.

Note: this financing is not exclusively

going to developing country Parties

Inter-American Development Bank (IADB)

 

8 Oct 2015

 

Climate Finance Ministerial Meeting, Lima

25-30% of lending support

By 2020

The Inter-American Development Bank announced it would increase the percentage of its funding that goes towards climate finance from the current 14% to between 25 and 30% over the next five years, which will roughly double the current amount going towards climate projects.

African Development Bank (AfDB)

 

9 October 2015

 

Climate Finance Ministerial Meeting, Lima

USD 5bn

By 2020

The African Development Bank said it would triple its climate financing to nearly $5 billion a year by 2020.

Half of the $5 billion will be dedicated to mitigation projects and the other half to adaptation projects.

 

World Bank

 

9 October 2015

 

Climate Finance Ministerial Meeting, Lima

USD 29bn

By 2020

The World Bank’s President Jim Yong Kim said that the Bank’s climate financing could rise to 28 percent in 2020 in response to client demand, representing a one-third increase in climate financing

The World Bank Group now provides an average of $10.3 billion a year in direct financing for climate action. If current financing levels were maintained, this would mean an increase to $16 billion in 2020. 

In addition, the Bank Group plans to continue current levels of leveraging co-financing for climate-related projects; at current financing levels, that could mean up to another $13 billion a year in 2020.

 

 

 

Subscribe to our newsletter