US $650 billion of annual climate finance flowed globally in 2011-12

UNFCCC Standing Committee on Finance releases first assessment report on financial flows related to climate action

The UNFCCC Standing Committee on Finance, tasked with enhancing transparency and clarity on climate finance flows, released a report titled “The 2014 Biennial Assessment and Overview of Climate Finance Flows” on December 3 at the Lima summit. This first-of-its-kind assessment report compiled data on the flow of finance for emission reductions and adaptation, within countries and via international support.

Key findings of the report

$650 billion of total climate finance was estimated to be in global circulation in 2011-12.
$35 to 50 billion of support flowed annually from developed to developing countries.
In developed countries, 80 per cent of climate finance in 2011-12 was raised domestically.
In developing countries, 71 per cent of climate finance in 2011-12 was raised from national sources.
Around 95 per cent of total global climate finance is spent on mitigation or cutting emissions and only five per cent is spent on adaptation.

official press release

Other highlights of the discussions on climate finance

Climate finance