Spotlight on COP29: scaling up private climate finance in developing countries
Author(s)
Popovic, Ivana
Type
Report
Abstract
Key points
• Scaling up climate finance for developing countries will be at the forefront of discussions at the next annual climate talks, COP29.
• Most investments in climate solutions are concentrated in developed countries, with only a small proportion reaching least developed and developing countries.
• While investments in climate mitigation and adaptation are growing, a significant gap remains between current finance and what is needed to meet Paris Agreement goals.
• Mobilising private finance, alongside scaling up public finance, is essential to closing this funding gap and ensuring that finance reaches those most in need.
• Boosting private investments in developing countries requires: a coordinated effort between public and private sectors; supportive policies; diverse financial instruments; and stronger engagement from international financial institutions.
• Scaling up climate finance for developing countries will be at the forefront of discussions at the next annual climate talks, COP29.
• Most investments in climate solutions are concentrated in developed countries, with only a small proportion reaching least developed and developing countries.
• While investments in climate mitigation and adaptation are growing, a significant gap remains between current finance and what is needed to meet Paris Agreement goals.
• Mobilising private finance, alongside scaling up public finance, is essential to closing this funding gap and ensuring that finance reaches those most in need.
• Boosting private investments in developing countries requires: a coordinated effort between public and private sectors; supportive policies; diverse financial instruments; and stronger engagement from international financial institutions.
Date Issued
2024-10-21
Citation
Grantham Institute background briefing, 2024, pp.1-7
Publisher
Imperial Grantham Institute
Start Page
1
End Page
7
Journal / Book Title
Grantham Institute background briefing
Copyright Statement
© 2024 The authors, produced for The Grantham Institute. This work is licensed under the terms of the Creative Commons Attribution-Non-Commercial-No-Derivatives 4.0 International License. This license permits all or part of the work to be copied and shared with others, provided that the original authors and source are credited.
Publication Status
Published