Climate finance — international, national and local, public and private, sources of funding for mitigation and adaptation — is critical in enabling developing countries to respond to climate change. Levels of climate finance are rising fast: nearly US$10 billion has been pledged under the Green Climate Fund alone. And countries are spending far more than this from their own climate-related domestic expenditures. But the funds still fall short in making a real difference in the least developed countries that are most vulnerable to climate change. And getting available funds to the poorest citizens who need it most remains a challenge in both rural and urban areas.