Climate Finance Delivery Plan: Meeting the US$100 Billion Goal (COP26 paper)
26 October 2021
Developed countries remain steadfast in our continued commitment to meet the annual US$100 billion goal as soon as possible and through 2025. In this regard, developed countries, co-led by Canada’s Minister of Environment and Climate Change, Jonathan Wilkinson, and Germany’s State Secretary at the Ministry for Environment, Nature Conservation and Nuclear Safety, Jochen Flasbarth, have prepared a forward looking Delivery Plan on the US$100 billion goal through to 2025. Based on the analysis from the Organisation for Economic Co-operation and Development (OECD) of recent climate finance pledges and historical levels of climate finance, the outlook to 2025 shows a positive trend with developed countries making significant progress towards the US$100 billion goal in 2022 and provides confidence that it would be met in 2023. The data also provides confidence that developed countries will likely be able to mobilize more than US$100 billion per year thereafter. To reach the goal effectively, guiding principles for collective actions by developed countries are outlined in this plan.