Wealthy countries' climate finance hit record high in 2024, OECD says
In 2024, wealthy countries provided a record $136.7 billion in climate finance to assist poorer nations, according to the OECD. This funding, which increased by 3% from the previous year, was aimed at enhancing renewable energy and improving defenses against extreme weather. However, experts warn that even higher investments are necessary to meet climate goals and support vulnerable societies.
- ▪Developed countries provided $136.7 billion in climate finance in 2024.
- ▪The funding was used for renewable energy expansion and strengthening defenses against extreme weather.
- ▪Countries agreed to increase climate finance to $300 billion by 2035.
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| Original publisher | Straits Times — World |
| Canonical URL | https://www.straitstimes.com/world/europe/wealthy-countries-climate-finance-hit-record-high-in-2024-oecd-says |
| Publication time | Thu, 21 May 2026 17:09:32 +0800 |
| Retrieval time | 2026-05-21T09:16:10.343Z |
| Last seen | 2026-05-21T09:16:10.343Z |
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Opening excerpt (first ~120 words) tap to expand
Wealthy countries' climate finance hit record high in 2024, OECD saysSign up now: Get ST's newsletters delivered to your inboxAn environmental activist holds a flyer during a protest to urge world leaders to commit to a strong climate finance deal during the United Nations Climate Change Conference (COP29), in Baku, Azerbaijan November 16, 2024. REUTERS/Maxim ShemetovPublished May 21, 2026, 05:09 PMUpdated May 21, 2026, 05:09 PMBRUSSELS, May 21 - Developed countries provided a record $136.7 billion to help poorer countries cope with climate change in 2024, the OECD said on Thursday.• The provision was spent in areas like expanding renewable energy or strengthening defences against extreme weather.
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