These and other issues related to the quality of climate finance should also be considered during the design of the new quantitative climate finance target under the UNFCCC to ensure that the structure of the goal promotes accountability and increases recipients’ ability to trust in the climate finance architecture. [...] The purpose of this paper is, firstly, to explore key quantitative and qualitative trends in the climate finance architecture, including its affordability and concessionality, fragmentation and proliferation, implementation modalities, and evaluation, and secondly, to consider the implications of these trends for climate finance effectiveness. [...] Indeed, currently, the number of official climate finance providers active globally outstrips providers in the health, education, or transport sectors – in the latest data for 2020, 59 climate finance providers reported their commitments to the OECD, as compared with 47 providers in the health and education sectors each and 26 providers in the transport and storage sector (Figure 5). [...] While the larger number of climate finance providers as compared with health and education providers is largely the result of the additional multilateral agencies (including MDBs) involved in climate finance, this trend is not especially new – even in 2013, we found that the number of multilateral climate finance providers exceeded the number of multilateral agencies in other benchmarked sectors. [...] Proliferation in the number of health and education providers active at the country level likewise progressed between 2015 and 2020, although at a slower rate.49 Changes in the size of climate and development finance projects At the same time as a larger number of providers have become active in the climate space, increasing the number of climate-related transactions, the average size of each acti.
- Pages
- 54
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- United States of America
