REACTION: OECD releases latest climate finance figures

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Responding to the release of new figures on the climate finance provided to developing countries by wealthier countries in the Organisation for Economic Cooperation and Development Jan Kowalzig, Oxfam’s climate policy advisor, said:

“The international community has largely abandoned poor communities on the frontline of the climate crisis. As this report reveals, just one fifth of the money available is used to help the most vulnerable communities adapt to more erratic and extreme weather, and three-quarters of the support is in the form of loans that need to be paid back – rather then genuine assistance.

“To avoid a climate apartheid, where only the rich and powerful can afford to protect themselves, rich countries must more than double the money available to help poor countries adapt, ensure this money is provided as grants rather than loans, and target funds at the poorest communities who need it most.”

Notes to editors:

OECD Climate Finance Report

At the 2009 Climate Summit in Copenhagen, wealthier countries promised to provide $100 billion a year by 2020 to help poor countries cut their emissions and adapt to a changing climate.

On 23 September 2019, the UN Climate Action Summit will bring together political leaders from across the globe in an effort to increase ambition and agree concrete action to tackle the climate emergency.

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