Recommendation 52

Despite its omnipresence in climate negotiations, there is no officially agreed definition of climate finance.110 In November 2020, the Organisation for Economic Co-operation and Development (OECD) reported that the level of climate finance was US$78.9 billion in 2018.111 Yet, the OECD itself acknowledged that official reporting by higher income countries contains “significant inconsistencies in terms of methodologies, categorisations and definitions adopted across countries”.112