Far from meeting developing nations’ needs: Climate activists on OECD report
The OECD report indicates that climate finance from developed countries for developing nations has increased but remains insufficient. While a new goal of USD 300 billion annually by 2035 has been set, activists argue this is far below the actual needs of developing countries. The report highlights ongoing challenges, including cuts in Overseas Development Aid and the predominance of loans over grants in climate financing.
- ▪Developed countries provided USD 132.8 billion in climate finance for developing countries in 2023.
- ▪A new climate finance goal of at least USD 300 billion annually by 2035 was established.
- ▪Climate Action Network criticized the OECD report for not adequately addressing the financial needs of developing countries.
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Far from meeting developing nations’ needs: Climate activists on OECD reportClimate finance has continued to grow, with developed countries providing and mobilising USD 132.8 billion in climate finance for developing countries in 2023 and USD 136.7 billion in 2024Published on: May 21, 2026 6:03 PM ISTBy Jayashree Nandi, New DelhiShare viaCopy link Climate finance has continued to grow, with developed countries providing and mobilising USD 132.8 billion in climate finance for developing countries in 2023 and USD 136.7 billion in 2024, the Organisation for Economic Co-operation and Development (OECD) said in a new report on Thursday.In 2024, countries set a new climate finance goal, committing to deliver at least USD 300 billion annually for developing countries for climate action by 2035.
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