Understanding how much and what type of finance is available to advance low carbon growth is critical to scaling up climate finance and ensuring that resources are used effectively. This report identifies global climate finance flows of US$364 billion in 2011. According to the report, the private sector provided the majority of finance, mostly from developed countries. The public sector acted as a catalyst for private investment by providing incentives and concessional loans, as well as bilateral aid to developing countries. Public and private intermediaries, especially national development banks and commercial banks, played an important role in channelling and raising climate finance. The majority of funding captured by the report relates to mitigation activities. Emerging economies such as China, Brazil, and India received one-third of mitigation-directed climate finance; notably, most of these investments were raised domestically and invested in pursuit of development mandates.