OECD Reports that DAC Countries Allocate 15% of Development Assistance to Mitigation and Adaptation

6 December 2011: Organisation for Economic Co-operation and Development (OECD) Secretary-General Angel Gurría has announced the results of OECD research indicating that member countries of the OECD Development Assistance Committee (DAC) allocated US$22.9 billion, or 15% of official development assistance (ODA), to climate change-related endeavors in 2010.

Gurría noted that this is the first year the OECD has tracked adaptation financing, which amounted to US$9.3 billion, or one-third of the total. Approximately US$4 billion of the total was allocated to support both adaptation and mitigation objectives. [OECD Press Release]