Global climate finance reached $1.5 trillion in 2022, must rise fivefold by 2030: Report

Global investment in climate change mitigation and adaptation hit $1.5 trillion in 2022, doubling since 2018, but must increase fivefold by 2030 to limit global warming to 1.5 degrees Celsius. Despite these investments, reliance on fossil fuels and associated subsidies continue to rise. A new climate finance target is anticipated at this year’s UN climate summit.