23 September 2013
In 2009, more than 100 countries agreed that $100bn (£64bn) per year would be needed by 2020 for climate change mitigation and adaptation measures in developing countries. Developed countries have so far pledged about $34bn. But only 46% of this money has been allocated, and just 10% disbursed.
On the supply side the evolving funding arrangement doesn't help. On the demand side, recipient countries often fail to put in place the necessary institutional structures and systems to reassure that funds will be effectively managed. This combination leads to low disbursement levels.
However, several countries have secured climate finance. China has been the biggest beneficiary, followed by India and Turkey. While the top beneficiaries are fast-growing emerging economies, with funding predominantly directed at mitigation efforts, other countries such as Guyana and Tanzania are also high on the list, indicating that receiving funding is not purely a question of size of population or GDP.
Read more from the Guardian here.