Source: Inter-American Development Bank

Date Published: 09.09.2025

Link: Multilateral Development Banks Hit Record $137 Billion in Climate Financing to Drive Sustainable Development Worldwide

Climate financing is central to efforts surrounding sustainable development by encouraging investment in green cities, renewable energy, clean water, food security, etc. This has come with an increase in climate financing globally, where climate financing has more than doubled in the past five years in low- and middle-income economies and reached $51.5 billion in high income countries in 2024. Two sectors are notable for this scaling. Multilateral development banks (MDBs)  have increased their spending on global climate financing by 10% last year, reaching $137 billion directed towards low- and middle-income countries. Additionally, private financing directed towards fighting climate change increased by 33%, totalling $134 billion. This climate finance data will shape the Climate Change Conference (COP30) in Belém, Brazil, in November, 2025 where scaling climate finance is a central topic. A digital portal will also aim to make climate-finance data more transparent and accessible. The IDB also emphasized its ramping up of adaptation financing, which totaled $2.2 billion.