Climate finance needs to be multiplied by 2030. Approximately USD 2,400 (2,000-2,800) billion per year is needed to finance climate change mitigation and adaptation actions, as well as loss and damage in emerging economies and developing countries (excluding China). Estimates indicate that developing countries can finance roughly half of what is needed themselves, while around USD 1,000 billion must be financed by developed countries.
The six large humanitarian organizations in Norway; NRC, Norwegian Church Aid, Save the Children Norway, Norwegian People's Aid, Norwegian Red Cross and Caritas Norway put together a group of experts and tasked them to look into new and innovative financing for tackling the challenge of our time, namly the climate crisis. This is their report.