Meeting the pledge by developed countries to mobilize at least US$100 billion a year to support developing countries in mitigating and adapting to climate change, lagging even before the COVID-19 pandemic, requires urgent action.
The report outlines the finance landscape during the pandemic and examines how to get more money flowing into the system. It advocates for more climate finance to the least developed countries and small island developing states and more strategic leveraging of scarce concessional capital. Blended finance is highlighted as one innovative method to scale investment into these underserved communities and as an efficient means to maximize the financial and environmental impact of highly sought after concessional public capital.
