Oxfam’s Climate Finance Shadow Report 2020 offers an assessment of progress towards the $100bn goal. The third in a series, this report looks at the latest donor figures for 2017–18, with a strong focus on public finance. It considers fundamental questions including: how developed countries are counting the climate finance they report; what it is being spent on; where it is going; how close we are to the $100bn goal; and what lessons need to be learned for climate finance post-2020.
Agreement on climate finance is critical to success at COP26 in Glasgow, where the question of whether the $100bn commitment has been met will be high on the agenda. The central conclusion of this report is that how the $100bn goal is met is as important as whether it is met, and that vital lessons must be learned to improve the effectiveness, fairness and accountability of climate finance. If developed countries cling to the notion that it is acceptable for them to allocate and provide climate finance on the same terms as they have done to date, it will erode trust. Most importantly, it will not meet the needs of the world’s poorest countries and communities. At COP26, developed countries must agree to define a new path for climate finance post-2020.
Authors: Tracy Carty, Jan Kowalzig and Bertram Zagema
Source: OXFAM
