• Climate Policy Initiative’s (CPI) has released a new report Global Landscape of Climate Finance 2023.

The Climate Policy Initiative (CPI) is an independent non-profit research group and international climate policy organization. It is based in San Francisco, California with other offices worldwide.

• Climate finance is one of the key agenda items up for discussion at the much-awaited 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change to be held in Dubai

MAJOR FINDINGS

• Average annual flow of climate finance in 2021 and 2022 was $1.3 trillion, twice the $653 billion of 2019 and 2020.
  • Climate finance flows have doubled compared to previous years but have been unevenly distributed across geographies and sources.
• China, the US, Europe, Brazil, Japan, and India received 90% of increased climate finance.
• 98% of all adaptation finance tracked for the report stemmed from public actors.
• Private actors contributed 49% of total climate finance, to the tune of $625 billion.