Climate finance short-changed: the real value of the $100 billion commitment in 2019–2020
Many rich countries are using dishonest and misleading accounting to inflate their climate finance contributions to developing countries – in 2020 by as much as 225%, according to investigations by Oxfam. Oxfam estimates between just $21-24.5 billion as the “true value” of climate finance provided in 2020, against a reported figure of $68.3 billion in public finance that rich countries said was provided (alongside mobilized private finance bringing the total to $83.3 billion). The global climate finance target is supposed to be $100 billion a year.
