New Delhi, May 21 -- Climate finance has continued to grow, with developed countries providing and mobilising USD 132.8 billion in climate finance for developing countries in 2023 and USD 136.7 billion in 2024, the Organisation for Economic Co-operation and Development (OECD) said in a new report on Thursday.

However, the scale of climate finance mobilised is far below what countries are expected to provide annually from 2035 onwards under the new collective quantified goal (NCQG), according to the OECD report. The OECD is an international organisation of 38 countries, founded in 1961 to stimulate economic progress, and consists mostly of high-income countries.

In 2009, at the 15th Conference of the Parties (COP15) in Copenhagen, develo...