Norway Boosts Climate Finance to $1.4 Billion, Beating Goal

Norway said it raised 15.5 billion kroner ($1.4 billion) in climate financing in 2022, exceeding a target set at climate talks in Glasgow in 2021.

Private capital tapped by Norfund, a government-controlled investor targeting developing countries, accounted for much of the increase, the Foreign Affairs Ministry said Tuesday. The total raised last year overshot the target Norway set for itself to boost annual spending to 14 billion kroner by the end of 2026.