Global Landscape of Climate Finance 2025

In 2023, climate finance to EMDEs surpassed USD 1 trillion, with 80% sourced domestically and China accounting for 64% of total flows. While mitigation finance grew to USD 979 billion, it remains far below the estimated USD 3.86 trillion annual need. Adaptation finance totaled USD 48 billion, showing significant unevenness as the top 20% of countries received over 70% of these funds. International public finance exceeded USD 159 billion, but faces potential declines due to ODA cuts, while international private finance rose to USD 49 billion. The report emphasizes that EMDEs require nearly USD 4 trillion annually through 2030 to achieve climate goals.

• EMDEs face a massive financing gap, requiring nearly USD 4 trillion in annual climate finance until 2030 to meet their goals. Specifically, annual mitigation investment needs are estimated at USD 3.86 trillion.
• Total climate finance for EMDEs exceeded USD 1 trillion in 2023, with a heavy reliance on domestic mobilization (80%) and a dominant contribution from China, which provided USD 685 billion (64% of the total).
• Mitigation finance dominated tracked flows in 2023, totaling USD 979 billion (92% of all flows). Within this, energy systems received the most funding (USD 512 billion), followed by transport (USD 295 billion) and buildings and infrastructure (USD 118 billion).
• Adaptation finance reached USD 48 billion in 2023, a 46% increase since 2018, but remains insufficient and highly concentrated, with over 70% of funds going to the top 20% of countries.
• International climate finance to EMDEs exceeded USD 200 billion in 2023, consisting of USD 159 billion from public sources and USD 49 billion from private sources. Western Europe was the largest source of international private finance, contributing 59% (USD 29 billion).
• South-South climate flows increased from USD 16 billion in 2018 to USD 26 billion in 2023. This includes a 60% increase in green energy investment via China's Belt and Road Initiative between 2022 and 2023, reaching USD 11.8 billion.

APA

Climate Policy Initiative (2025). Global Landscape of Climate Finance 2025. https://www.climatepolicyinitiative.org/wp-content/uploads/2025/10/Global-Landscape-of-Climate-Finance-2025-EMDE-Spotlight-Summary-Handout.pdf

Chicago

Climate Policy Initiative. Global Landscape of Climate Finance 2025. 2025. https://www.climatepolicyinitiative.org/wp-content/uploads/2025/10/Global-Landscape-of-Climate-Finance-2025-EMDE-Spotlight-Summary-Handout.pdf.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=Global Landscape of Climate Finance 2025 |date=November 2025 |url=https://www.climatepolicyinitiative.org/wp-content/uploads/2025/10/Global-Landscape-of-Climate-Finance-2025-EMDE-Spotlight-Summary-Handout.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2025global, author = {{Climate Policy Initiative}}, title = {{Global Landscape of Climate Finance 2025}}, institution = {Climate Policy Initiative}, year = {2025}, month = nov, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2025/10/Global-Landscape-of-Climate-Finance-2025-EMDE-Spotlight-Summary-Handout.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }