Global landscape of climate finance 2024

The Global Landscape of Climate Finance 2024 reflects on how climate finance has evolved from 2018 to 2022, exploring both mitigation and adaptation flows across different economies. Despite annual climate finance having more than doubled between 2018 and 2022, a further fivefold increase is required to reach the USD 7.4 trillion needed on average each year through 2030 under the 1.5°C scenario. The projected economic losses that can be avoided by 2100 by realizing a 1.5°C warming scenario are estimated to be five times greater than the climate finance needed by 2050 to achieve it.

This report finds that there are promising developments in climate finance across the world, but still not at the speed and scale required to close the USD 5.93 trillion annual global climate investment gap. Several large-scale processes need to occur simultaneously in the next five years to accelerate the scale, speed, and quality of climate finance amid constrained budgets and conflicting political and financial priorities.