ANNEX C.6 POST-2020 TARGETS RELATED TO THE JOINT
MDB CLIMATE FINANCE TRACKING METHODOLOGY
MDB Post-2020 targets related to the joint MDB climate finance tracking methodology
AfDB Doubling of climate finance to $25 billion for the period 2020-25, giving priority to adaptation finance.
Source: The African Development Bank pledges $25 billion to climate finance for 2020-2025, doubling its commitments
ADB By 2030, at least 75% of the number of its committed operations (on a three-year rolling average,
including sovereign and non-sovereign operations) will be supporting climate change mitigation and
adaptation. Climate finance from the ADB’s own resources will reach $80 billion for the period 2019–30.
In 2021, ADB elevated its climate finance ambition to reach $100 billion, up by $20 billion by 2030.
Sources: Strategy 2030:
Achieving a Prosperous, Inclusive, Resilient, and Sustainable Asia and the Pacific
News Release: ADB Raises 2019–2030 Climate Finance Ambition to $100 Billion
Medium-term targets: 65% of the number of operations (on a three-year rolling average) and $35 billion
for the period 2019-24.
Source: ADB Corporate Results Framework, 2019–2024: Policy Paper
AIIB Reflecting its commitment to support the Paris Agreement, AIIB will aim to reach or surpass by 2025
a 50% share of climate finance in its actual financing approvals. The Bank currently estimates its
cumulative climate finance approvals to be $50 billion by 2030.
Source: AIIB Corporate Strategy: Financing Infrastructure for Tomorrow, AIIB to Fully Align with Paris Agreement Goals by
Mid-2023, Currently projects $50 billion investment for climate finance by 2030
EBRD
Green finance is to account for more than 50% of total annual EBRD investment by 2025.
The EBRD’s Green Economy Transition (GET) approach for the period 2021-25 is helping economies
where EBRD operates build green, low-carbon and resilient economies. The new approach sets a green
finance target of 50% of all EBRD’s Annual Bank Investment by 2025. This green finance is composed
of climate finance for both mitigation and adaptation as well as finance addressing other environmental
objectives. The EBRD does not have separate targets for climate action. Nevertheless, it expects that
the bulk of the finance will be classified as climate finance under the joint MDB approach, in line with
the EBRD’s current investment focus. For the previous period, 2016-20, cumulative climate finance
accounted for approximately 95% of the reported green finance.
Source: https://www.ebrd.com/what-we-do/get.html
EIB The EIB will gradually increase the share of its financing dedicated to climate action and environmental
sustainability to more than 50% of its operations in 2025.
From 2021, the EIB will deliver against a target that comprises both climate finance and environmental
sustainability finance. Although the EIB does not use any separate climate finance target, the joint target
has been approved by the EIB’s Management Committee on the basis of modelling the climate finance as
a percentage of total financing. This modelling has shown that climate finance comprises approximately
85% of the volume reported against the target. Additionally adaptation finance should increase to 15% of
climate finance by 2025.
Sources:
The EIB Group Climate Bank Roadmap 2021-2025.;
The EIB Climate Adaptation Plan: Supporting the EU Adaptation Strategy to build resilience to climate change
IDBG Climate finance in IDB Group operations (of climate finance approvals as a percentage of all financing
commitments for 2020-23) is ≥30% (annual floor). Note: IDB Invest reports at the level of closings (not
approvals).
Source: https://crf.iadb.org/en
IsDB The IsDB is committed to a climate finance target of 35% of total financial commitment by 2025.
This 35% climate finance target excludes operations of IsDB Group members including the Islamic
Corporation for the Development of the Private Sector (ICD), the International Islamic Trade Finance
Corporation (ITFC) and the Islamic Corporation for Insurance of Investment and Export Credit (ICIEC).
Source: IsDB 2020-2025 Climate Action Plan
NDB NDB aims to direct 40% of total approvals to projects contributing to climate change mitigation and
adaptation, including energy transition, over 2022-2026.
Source: https://www.ndb.int/wp-content/uploads/2022/07/NDB_StrategyDocument_eVersion_07.pdf
WBG The WBG announced a target for an average of 35% of its financing to be climate finance over the period
2021-25. 50% of World Bank — IBRD and IDA — climate financing will support adaptation and resilience.
The 35% target is a significant increase from the 26% achieved on average in FY 2016-20 and an even
larger increase in dollar terms as the World Bank Group’s total financing has also expanded.
Source: https://openknowledge.worldbank.org/handle/10986/35799
ANNEX C: METHODOLOGIES AND DEFINITIONS |
79