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In the global push to tackle climate change, international climate finance is essential. Climate finance, both public and private, helps developing countries adapt to climate extremes and develop in a low carbon way.
This briefing examines reported international public climate finance flows, taking into account the funding commitments of developed countries under the United Nations Framework Convention on Climate Change (UNFCCC). Oxfam’s analysis finds that the most vulnerable people and communities are being neglected by funds that should be helping them. This is unjust, given that these people are both hardest hit by climate change and did the least to cause it.
World leaders acted quickly to ratify the 2015 Paris Agreement – an encouraging sign, given the urgent action needed to deal with the climate crisis. We hope they act with similar urgency at COP22 in Marrakech to deliver the support those on the frontlines of climate change need.