Overview
- OECD data show the 2022 goal was met on paper at $115.9bn, with Carbon Brief and the Guardian mapping 20,000 projects and finding that a surge in mobilised private finance and attributions from multilateral development banks helped push totals up.
- Large shares went to middle- and higher-income recipients, with India receiving about $14.1bn mostly as loans, China about $3bn, the UAE roughly $1.3bn in Japanese loans, and Saudi Arabia about $328m.
- Loans dominate many flows to least-developed countries, in some cases exceeding two-thirds of support, and Oxfam estimates the grant-equivalent value of 2022 climate finance at only $28–35bn.
- Japan was the largest donor in 2021–22 and its loans for metro and rail projects accounted for 11% of all bilateral finance, often tied to Japanese firms and including some non‑concessional terms.
- Adaptation received about 33% of funding versus 58% for mitigation, as countries move to a new pledge of at least $300bn a year by 2035 and the US’s MDB shareholdings keep its reported totals high even as 2025 bilateral aid is cut.