By Virginia Furness

LONDON (Reuters) -Multilateral development banks provided a record $137 billion in climate finance in 2024, up 10% from the previous year, and also helped boost private sector funding for climate-related investments by a third, a report by the banks showed on Tuesday.

The increase in investment comes as nations gear up for the next round of U.N. climate talks in Brazil in November, where developing countries are set to call for more help to pay for the impacts of climate change caused mainly by richer nations.

To help accelerate action, countries are being urged to turn up at the COP30 talks with fresh plans to attract private sector investment in the climate fight – a crucial step as official development aid is slashed by many countries.

“MDBs are clearly supportin

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