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World Bank

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Ten world’s largest Multilateral Development Banks (MDBs) agree rules of alignment with Paris Climate Agreement.

Ten multilateral development banks have agreed joint processes to align their activities with the Paris Climate Agreement on tackling climate change.
Joint methodological principles have been agreed following significant collective effort and provide a harmonized approach and clear guidance on how new financing operations are assessed for alignment with the Paris Agreement’s climate goals.
The MDBs’ joint approach aims to accelerate and support the urgent transition to a low-carbon and climate-resilient future by supporting clients in preparing investments that are in line with the objectives of the Paris Agreement. A consistent approach was developed to help those working with the banks understand how decisions are made, with many countries and large projects benefiting from investments by multiple MDBs.
To ensure a consistent approach to implementation, in 2018 MDBs developed a framework with six building blocks: alignment with mitigation goals, adaptation and climate-resilient operations, accelerated contribution to the transition through climate finance, engagement and policy development support, reporting, and alignment of internal activities. The joint methodological principles published this week present the MDB Paris Alignment methodology for building blocks one (mitigation) and two (adaptation and climate resilience).
The 10 MDBs working together on the development of the joint methodological principles are:
The African Development Bank
Asian Development Bank
Asian Infrastructure Investment Bank
Council of Europe Development Bank
European Bank for Reconstruction and Development
European Investment Bank
Inter-American Development Bank Group
Islamic Development Bank
New Development Bank
World Bank Group.
These banks represent the largest financial investment capability of any group of organizations in the world besides national governments. Their role in financing climate compliant infrastructure around the world is significant, often providing finance that could not be raised by other sources in developing nations in particular.
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23 more agrees trigger social media ads

  • We Don't Have Time

    55 w

    Dear Tabitha Kimani Thank you for getting your climate love to level 2! We have reached out to World Bank and requested a response. I will keep you updated on any progress! /Bertie We Don't Have Time

    • Harrison wambui

      55 w

      Great good news

      • Joseph Githinji

        55 w

        This is a message of home,with this agreement climate financing is guaranteed.

        • Videlis Eddie

          55 w

          This is amazing let's hope it will go through...

          • Edwin wangombe

            55 w

            This is great... There is hope

            • Komu Daniel

              55 w

              Amazing news,hoping that they will live up to this agreement

              • Kevin

                55 w

                Quite the news here

                • Ajema Lydiah

                  55 w

                  great,i hope it will work out

                  • Elizabeth Gathigia

                    55 w

                    This is good news

                    • Gorffly mokua

                      55 w

                      Great! Hoping that they will honor the agreement.

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