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A major shortcoming of the $100 billion climate finance goal agreed in 2009 was the absence of a clear baseline. CGD argues that a $200 billion per year target would amount to a “no-ambition” target. CGD would prefer to see a grant-equivalent target, and we provide the baseline figures for such a target below. Also provides figures for a combined climate and development finance target which would ensure additional resources for climate and put an end to greenwashing.

This note also examines finance under the existing and potential new measures in 2022 and projects them to 2035. It also looks at the scale of potential new providers’ contribution before concluding on which measures create the best incentives for tackling climate change.