India, May 21 -- Developed countries provided and mobilised $136.7 billion in climate finance for developing nations in 2024, crossing the long-delayed $100 billion annual goal for the third consecutive year.

The OECD report says climate finance rose from $132.8 billion in 2023 to $136.7 billion in 2024, after first crossing the $100 billion mark in 2022.

Low-income countries received only 7% of total climate finance, while lower-middle-income countries received the largest share at 39%.

Adaptation finance reached $34.7 billion in 2024, but developed countries still need to increase it by $5.8 billion in 2025 to meet the Glasgow Climate Pact commitment.

Loans continued to dominate public climate finance, raising concerns over debt, eq...