Previewing Climate Finance at COP24: Funds, Rules and Goals

This briefing outlines the critical climate finance priorities for COP24 in Katowice, Poland, focusing on the scaling of dedicated funds, the establishment of transparency rules for tracking financial flows, and the timeline for setting a post-2025 collective quantified goal.

• At COP24, developed nations are urged to increase support for developing countries through dedicated funds, specifically by committing to an ambitious replenishment of the Green Climate Fund. Germany has already indicated its intent to contribute €1.5 billion ($1.7 billion), which is double its 2014 commitment.
• Negotiators at COP24 must establish implementation guidelines for tracking climate finance that include both ex-post reporting on past support and ex-ante projections of future funding. Key needs include improving the tracking of how public interventions mobilize private finance and reducing the current two-year lag between funding flows and UN reporting.
• The Global Stocktake, occurring every five years, should be designed to assess progress in making all finance flows consistent with climate goals, rather than focusing solely on public funding from developed to developing countries.
• Regarding financial goals, developed countries previously pledged to mobilize $100 billion annually for developing countries by 2020. Data shows public climate finance from developed to developing countries reached $56.7 billion in 2017 according to OECD data, and over $70 billion (including $55.7 billion in public finance) in 2016 according to the 2018 Biennial Assessment of Climate Finance.
• Governments agreed in Paris to set a new collective quantified goal from a floor of $100 billion per year before 2025. While detailed discussions on funding levels may be premature, COP24 could establish a procedural decision to set the timeline for determining this goal.

APA

World Resources Institute (2018). Previewing Climate Finance at COP24: Funds, Rules and Goals. https://www.wri.org/insights/previewing-climate-finance-cop24-funds-rules-and-goals

Chicago

World Resources Institute. Previewing Climate Finance at COP24: Funds, Rules and Goals. 2018. https://www.wri.org/insights/previewing-climate-finance-cop24-funds-rules-and-goals.

Wikipedia

{{cite report |author=World Resources Institute |title=Previewing Climate Finance at COP24: Funds, Rules and Goals |date=29 November 2018 |url=https://www.wri.org/insights/previewing-climate-finance-cop24-funds-rules-and-goals |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldresourcesinstitute2018previewing, author = {{World Resources Institute}}, title = {{Previewing Climate Finance at COP24: Funds, Rules and Goals}}, institution = {World Resources Institute}, year = {2018}, month = nov, url = {https://www.wri.org/insights/previewing-climate-finance-cop24-funds-rules-and-goals}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }