Global Climate Finance Increases to USD 391 Billion

Many dry reports exist about climate, green and energy efficiency finance, the Climate Policy Initiative blow those reports away with their fantastic infographic entitled Global Landscape of Climate Finance 2015.

It shows global investment in activities that reduce greenhouse gas emissions and climate vulnerability increased by $90 billion, growing from $331 billion in 2013 to $391 billion in 2014. The Initiative says that this is thanks to the steady increases in public finance and a surge in private investment in renewable energy and energy efficiency technologies.

Of the finance captured by the Landscape 2015, $292 billion paid for renewable energy. With falling costs for some technologies, these investments are achieving more impact than ever before.

Adaptation finance reached $25 billion or 17% of all public climate finance in 2014. On par with last year’s results, this is a partial and uncertain estimate due to different accounting approaches and major data gaps for tracking private adaptation finance. Development finance institutions were the biggest single source of global climate finance, providing $131 billion or 33% of total climate finance flows. Project developers and corporate actors outside the energy sector were the second and third biggest sources with $92 billion (24%) and $58 billion (15%) respectively.

“Two weeks out from the international climate negotiations in Paris, our analysis demonstrates that countries around the world are investing to drive their own economic growth and development. Overwhelmingly, it is national self-interest that is driving climate action,” said Barbara Buchner, Senior Director of Climate Policy Initiative and lead author of the study.

She added, “The numbers also show that while global investment in a cleaner more resilient economy is growing, so too is the investment gap between what is required for reducing emissions to within agreed limits and what is being delivered. Even greater effort and geographic spread is needed to deliver investments consistent with the 2°C global temperature goal.”

Check out the inforgraphic now.

Friday 20th November 2015

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