The Joint Report on Multilateral Development Banks’ Climate Finance is an annual collaborative effort to make public MDB climate finance figures, together with a clear explanation of the methodologies for tracking this finance. This joint report, alongside the MDBs’ publication of climate finance statistics in their respective corporate media, is intended to track progress in relation to climate finance targets such as those announced around COP21 and the greater ambition pledged last year.
In this Joint Report for 2019, the geographical coverage has been expanded to report on all economies in which the MDBs operate (including those that are not developing and emerging economies), to make more transparent and consistent the reporting of MDBs’ progress towards their joint climate finance commitments for 2025.
Collectively, the MDBs committed US$ 61,562 million in climate finance in 2019 – US$ 46,625 million or 76 per cent of this total for climate change mitigation finance and US$ 14,937 million or 24 per cent for climate change adaptation finance. The net total climate co-finance committed during 2019 alongside MDB resources was US$ 102,683 million. Together, MDB climate finance and climate co-finance totalled US$ 164,245 million.
This paper highlights some of the critical operational, financial, and governance obstacles facing multilateral development banks (MDBs) to provoke new thinking on ways to maximize the potential of the MDB model for development in general and infrastructure in particular.