OSLO, Aug. 17 (Xinhua) -- Norway's climate finance reached a record 30.3 billion Norwegian kroner (about 3.22 billion U.S. dollars) in 2025, the Norwegian government said in a press release on Monday.
The figure represented an increase of 60 percent from the previous year. It was also more than four times the equivalent of 744 million dollars recorded in 2020.
The government said Norway had fulfilled for the fourth consecutive year its 2021 pledge to double climate finance by 2026.
International Development Minister Asmund Grover Aukrust said climate finance was essential to helping developing countries reduce emissions, adapt to climate change and build sustainable societies.
The sharp increase was mainly driven by private capital mobilized through Norway's Climate Investment Fund, which is managed by the Norwegian Investment Fund for Developing Countries, or Norfund.
Mobilized private capital reached 1.73 billion dollars in 2025, up 181 percent from the previous year. About two-thirds of Norway's total climate finance was channeled through Norfund and the Climate Investment Fund.
Projects involving investments from the Climate Investment Fund in 2025 are expected to help avoid 22.7 million tonnes of carbon dioxide emissions annually once they become operational, according to government estimates.
The Norwegian government said it would present a new target for Norway's climate finance before the end of this year. Enditem
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