The new Overseas Development Institute's report, for the first time, analyses a decade of contributions and spending to nine major international and two national funds set-up to tackle climate change. It reviews the effectiveness of multilateral public climate finance and asks whether it is making a difference in reducing emissions and increasing resilience to climate change.
International efforts to tackle climate change are at a critical juncture. At the end of 2015 governments will gather at the Paris climate summit to frame a new international agreement aimed at preventing ‘dangerous climate change’. Achieving that goal requires a high level of ambition backed by practical policy commitments. Finance has a pivotal role to play in supporting developing countries to reduce emissions, decarbonise their economies, and adapt to the impacts of climate change. Governments across the world’s poorest countries see financial commitments as key to a global deal in 2015 that can deliver meaningful climate action.