Australia, with the United Kingdom, led developed countries to deliver a Roadmap [PDF 1 MB] to meeting the collective goal of mobilising US$100 billion a year in climate finance for developing countries by 2020. The Roadmap aims to provide increased predictability and transparency about how the goal will be reached, and sets out the range of actions developed countries will take to meet it. Drawing on analysis by the OECD, the Roadmap shows that developed countries are well-placed to meet the US$100 billion goal, through a combination of public and mobilised private finance.
The US$100 billion goal was agreed by all countries at the UNFCCC Conference of Parties in 2010. As part of the Paris Conference outcome in 2015, developed countries were urged to scale-up their level of support and provide a ‘concrete roadmap’ to achieve the US$100 billion goal. Australia is committed to doing our part to meet the US$100 billion goal, and to support the broader transformation of finance flows needed to implement the Paris Agreement.