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首页文档碳中和资料研究报告2022多边开发银行气候融资联合报告（英文版）--多边开发银行

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2022
JOINT REPORT
ON MULTILATERAL
DEVELOPMENT
BANKS’
CLIMATE
FINANCE
2022 JOINT REPORT ON MULTILATERAL DEVELOPMENT BANKS’ CLIMATE FINANCE
© European Investment Bank, 2023
All rights reserved.
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Published by the European Investment Bank.
Disclaimer:
To accommodate scheduling limitations, the content of this publication has not been subject to standard EIB
proofreading.
OCTOBER 2023
This report was written by a group of multilateral development banks (MDBs),
composed of the African Development Bank (AfDB), the Asian Development
Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), the Council of
Europe Development Bank (CEB), the European Bank for Reconstruction
and Development (EBRD), the European Investment Bank (EIB), the Inter-
American Development Bank Group (IDBG), the Islamic Development Bank
(IsDB), the New Development Bank (NDB) and the World Bank Group (WBG).
The findings, interpretations and conclusions expressed in this work do not
necessarily reflect the official views of the multilateral development banks’
boards of executive directors or the governments they represent.
JOINT REPORT ON MULTILATERAL
DEVELOPMENT BANKS’
CLIMATE
FINANCE
2022
/98
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2022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCE2022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCE©EuropeanInvestmentBank,2023Allrightsreserved.Allquestionsonrightsandlicensingshouldbeaddressedtopublications@eib.orgForfurtherinformationontheEIB’sactivities,pleaseconsultourwebsite,www.eib.org.YoucanalsocontactourinfoDesk,info@eib.org.PublishedbytheEuropeanInvestmentBank.Disclaimer:Toaccommodateschedulinglimitations,thecontentofthispublicationhasnotbeensubjecttostandardEIBproofreading.2022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEOCTOBER2023Thisreportwaswrittenbyagroupofmultilateraldevelopmentbanks(MDBs),composedoftheAfricanDevelopmentBank(AfDB),theAsianDevelopmentBank(ADB),theAsianInfrastructureInvestmentBank(AIIB),theCouncilofEuropeDevelopmentBank(CEB),theEuropeanBankforReconstructionandDevelopment(EBRD),theEuropeanInvestmentBank(EIB),theInter-AmericanDevelopmentBankGroup(IDBG),theIslamicDevelopmentBank(IsDB),theNewDevelopmentBank(NDB)andtheWorldBankGroup(WBG).Thefindings,interpretationsandconclusionsexpressedinthisworkdonotnecessarilyreflecttheofficialviewsofthemultilateraldevelopmentbanks’boardsofexecutivedirectorsorthegovernmentstheyrepresent.CONTENTSivAbbreviationsandacronymsvPrefaceviiiExecutivesummary11.OVERVIEWOFMDBMETHODOLOGIESFORTRACKINGCLIMATEFINANCE11.1.Financeforadaptationtoclimatechange21.2.Financeformitigationofclimatechange41.3.Methodologyforclimateco-finance72.MDBCLIMATEFINANCEINLOW-ANDMIDDLE-INCOMEECONOMIES,202272.1.TotalMDBclimatefinance82.1.1.MDBclimatefinancebytypeofrecipientorborrower92.1.2.MDBclimatefinancebytypeofinstrument102.1.3.MDBclimatefinancebyregion102.2.MDBadaptationfinance142.3.MDBmitigationfinance182.4.Climateco-finance213.MDBCLIMATEFINANCEINHIGH-INCOMEECONOMIES,2022213.1.TotalMDBclimatefinance223.1.1.MDBclimatefinancebytypeofrecipientorborrower233.1.2.MDBclimatefinancebytypeofinstrument243.1.3.MDBclimatefinancebyregion243.2.MDBadaptationfinance283.3.MDBmitigationfinance323.4.Climateco-finance35ANNEXA.FurtherdetailedanalysisoftotalMDBclimatefinancedata,202253ANNEXB.Geographicalcoverageofthereport,202265ANNEXC.MethodologiesanddefinitionsABBREVIATIONSANDACRONYMSADBAsianDevelopmentBankAfDBAfricanDevelopmentBankAIIBAsianInfrastructureInvestmentBankCCFClimateco-financeCEBCouncilofEuropeDevelopmentBankCIFClimateInvestmentFundsCO2CarbondioxideEBRDEuropeanBankforReconstructionandDevelopmentEIBEuropeanInvestmentBankEUEuropeanUnion€EuroFYFiscalyearGEFGlobalEnvironmentFacilityGCFGreenClimateFundGHGGreenhousegasIBRDInternationalBankforReconstructionandDevelopmentIDAInternationalDevelopmentAssociationIDBInter-AmericanDevelopmentBankIDBGInter-AmericanDevelopmentBankGroup,composedoftheIDB,IDBLabandIDBInvestIDBInvestTheprivatesectorarmoftheIDBGIDBLabTheinnovationlaboratoryoftheIDBGIDFCInternationalDevelopmentFinanceClubIFCInternationalFinanceCorporationIsDBIslamicDevelopmentBankLDCsLeastDevelopedCountriesMDBsMultilateraldevelopmentbanksMIGAMultilateralInvestmentGuaranteeAgencyNAMAsNationallyAppropriateMitigationActionsNDCsNationallyDeterminedContributionsNDBNewDevelopmentBankSIDSSmallIslandDevelopingStatesUNFCCCUnitedNationsFrameworkConventiononClimateChange$UnitedStatesdollarWBGWorldBankGroup,composedoftheIDA,IBRD,IFCandMIGAPREFACETheJointReportonMultilateralDevelopmentBanks’ClimateFinanceisanannualcollaborativeefforttopublishMultilateralDevelopmentBanks’(MDBs’)climatefinancefigures,togetherwithaclearexplanationofthemethodologiesfortrackingthisfinanceasclimatefinance.Thisjointreport,alongsidethebanks’publicationofclimatefinancestatisticsintheirrespectivecorporatemedia,isintendedtotrackprogressinrelationtotheirjointclimatefinancetargetssuchasthoseannouncedatCOP21andthegreaterambitionpledgedforthepost-2020period.Thisyear’sreportbringsCouncilofEuropeDevelopmentBankandNewDevelopmentBank’sclimatefinancefullyintotheMDBreporting,sothatforthefirsttime,alltenMDBs’climatefinanceisincludedintheaggregateddatareported.TherehavebeenseveralrecentdevelopmentsthatarerelevanttoMDBclimatefinance.TheIndependentReviewofMDBs’CapitalAdequacyFrameworks1,publishedinJuly2022,analyseshowMDBscanusepublicresourcesinthemostefficientandeffectiveway.Thereportpresentsfivekeyrecommendations2tofreeupadditionallendingheadroom.TheindependentHighLevelExpertGrouppublishedareportatCOP27alsocallingformajorincreasesinMDBclimatefinance.COP27alsoproducedtheSharmElSheikImplementationPlan.PriortoCOP27,theBridgetownInitiative,championedbyPrimeMinisterMottleyofBarbadosinSeptember2022,calledongloballeaderstoreformtheglobalfinancialarchitectureinresponsetomultipleglobalcrises.WithadditionalmomentumfromCOP27,tofurtheraccelerateclimateactionandsustainabledevelopment,PresidentMacronofFranceco-hostedwithPrimeMinisterMottleyaSummitforanewGlobalFinancingPactinJune2023,whichcalledonMDBstostepupambitionstoaddressglobalchallengesandachieveSDGs.TheMDBs’transparentjointreportingontheirclimatefinancecanprovideusefuldatatoinformtheinternationaldiscussions.SincethefirstJointReportonMultilateralDevelopmentBanks’ClimateFinance,whichcoveredclimatefinancefor2011,figuresreportedforclimatefinancehavebeenbasedonajointMDBclimatefinancetrackingandreportingmethodology.Thismethodologyhasbeengraduallyupdatedasandwhentheneedarose,particularlyinlightofexperienceandglobaldevelopmentsinthisspace.Thefirsteighteditionsofthereportprovidedclimatefinancedataonagroupofemerginganddevelopingeconomieswhichincludedlow-andmiddle-incomeaswellassomehigh-incomecountries.From2019onwards,theMDBs’annualreportincludeddataforallcountriesofoperationoftheMDBs,withdatasplitbycountry-incomeleveltoimprovetransparencyandwithafocusonlow-andmiddle-incomeeconomies.Inaddition,respondingtouserrequestsforamorecomprehensivebreakdown,anewAnnexwithadditionaldetailsonclimatefinanceinLeastDevelopedCountriesandSmallIslandDevelopingStatesisaddedtothisyear’sreport.Someimportantmethodologicalchangeshaveoccurredsincelastyear’sreport:theoriginal,smallergroupofMDBshadalreadyin2011developedaharmonisedclimatefinancetrackingmethodologyandpublisheditintheirfirstjointreports.In2015,theMDBsandtheInternationalDevelopmentFinanceClub(IDFC3)workedtogethertoagreeonasetofcommonprinciplesforfinancetomitigateclimatechangeandaninitialsetofcommonprinciplesforfinancetosupportadaptationtoclimatechange.Theintentionwasforawidergroupofpublicbankstotakeacommonapproachtotrackandreportonclimatefinance.TheMDBsandIDFCpublishedanewversionoftheCommonPrinciplesforClimateChangeMitigationFinanceTrackinginOctober2021,whichincludesamoregranularbreakdownoftypesofeligibleactivity,clearcriteriathatmustbe1https://www.dt.mef.gov.it/export/sites/sitodt/modules/documenti_it/rapporti_finanziari_internazionali/rapporti_finanziari_internazionali/CAF-Review-Report.pdf2Thefiverecommendationsincludere-evaluatingMDBrisklimits,recognisingthebenefitsofcallablecapital,expandingtheuseoffinancialinnovations,enhancingdialoguewithcreditratingagencies,andpromotinggreatertransparencyregardingMDBcreditperformance.3www.idfc.orgPrefacevmetandadditionalguidancetofacilitatetheapplicationofthesecriteria.Inthisyear’sreport,allMDBsinthecurrentgroupoftenMDBshaveappliedthisupdatedmethodologyfordetermining2022climatechangemitigationfinance.In2022,theMDBsworkedtoupdatetheirjointmethodologyfortrackingadaptationfinance.ThisupdatewasagreedbyallMDBsandlaunchedatCOP27:itreflectstheevolvingunderstandingofadaptationandtheadvancementsinthefieldofadaptationfinanceinrecentyears.The2022methodologycomplementsongoingeffortsbytheMDBstoenhancetherobustnessandtransparencyofclimatefinancetrackingandreportingandsupportclimateaction,inlinewiththeobjectivesoftheParisAgreement,andwillbeadoptedfrom2023onwards.Thisyear’sreport,asitcovers2022finance,stillreportsusingtheoldmethodology.TheMDBswillcontinuetoimprovetheirtrackingandreportingofclimatefinanceasanimportantpart4oftheiroverallcommitmentstoensurethatfinancialflowsareconsistentwithapathwaytolowgreenhousegasemissionsandclimate-resilientdevelopment,asestablishedinArticle2.1(c)oftheParisAgreement.Inparticular,MDBscontinuetoworkcloselywithIDFConimprovingclimatefinancetracking,andMDBsandIDFCarenowworkingtoupdatethecommonprinciplesforclimateadaptationandmitigationfinancetracking,aimingtosharethemlaterin2023.AttheUNSecretaryGeneral’sClimateActionSummitinNewYorkinSeptember2019,theMDBsmadeahigh-levelstatementontheirjointclimateactionslookingforwardto2025.Thisincludeddeliveringanexpectedcollectivetotalof$50billionclimatefinanceforlow-incomeandmiddle-incomeeconomies,atleast$65billionofclimatefinanceglobally,withanexpecteddoublinginadaptationfinanceto$18billion;andprivatemobilisationof$40billion.In2022theMDBssurpassedthesecollectiveexpectationsonclimatefinance—bothforlow-andmiddle-incomeeconomiesandglobally.Theyalsonotablyincreasedadaptationfinancetoover$25billioninalleconomiesinwhichtheMDBsoperate.ThetableinAnnexC.6.summarisesindividualpost-2020MDBs’climatecommitments.TheMDBspresentedupdatesontheirworktoaligntheirfinanceflowswiththeParisAgreementinNovember20225.ThemultilateraldevelopmentbankshaveallsettheirowntimelinestoimplementtheMDBParisAlignmentFramework6whilstworkingtogetheronjointtoolsandapproaches,andsomeMDBshavealreadyputinplaceapproachesforallSixBuildingBlocks7.FinancialflowspresentedinthisreportarebasedonclimatefinancemethodologiesthatareseparateanddistinctfromtheMDBParisAlignmentFramework,althoughallclimatefinanceshouldalsobeParis-aligned,withinthetimeframesetbyeachMDBforimplementation.AswellascontinuingtoworkonclimatefinancetrackingandonfurtheraspectsoftheirParisAlignmentSixBuildingBlockframework,MDBsintendtoworktogetheronimprovingassessmentandreportingclimateoutcomesandclimateimpactsoftheirfinancing.ManyMDBsworkactivelywiththeIFIworkinggroupongreenhousegas(GHG)accountingwhereharmonisedGHGreportingmethodologiesaredeveloped,andseveralMDBshaveworkedtogetheronimpactreportingforGreenBondsandonclimate-resiliencemetricssince2019whenMDBsandmembersoftheIDFCpublishedthejointFrameworkandPrinciplesforClimateResilienceMetricsinFinancingOperations,settingoutthecoreconceptsandcharacteristicsofclimateresiliencemetricsalongsideahigh-levelframeworkforsuchmetricsinfinancingoperations.MDBs'climateoutcomesandclimateimpactsworkisthereforenotnewbutnowwarrantsincreasedfocus,takingaccountalsoofrecentdevelopmentsinfinancialmarkets’reporting.4“Acceleratedcontributiontothetransitionthroughclimatefinance”—BuildingBlock3ofMDBs’jointframework:MultilateralDevelopmentBanksannouncejointframeworkforaligningtheiractivitieswiththegoalsoftheParisAgreement(eib.org)5ProgressReport:MultilateralDevelopmentBanksWorkingTogetherforParisAlignment(eib.org)6MDBsagreehowtoalignnewfinancialflowswiththeParisAgreementgoals(eib.org)7Thesixbuildingblocksare:(i)alignmentwithmitigationgoals,(ii)adaptationandclimate-resilientoperations,(iii)acceleratedcontributiontothetransitionthroughclimatefinance,(iv)engagementandpolicydevelopmentsupport,(v)reporting,and(vi)alignmentofinternalactivities.Aspartofthisongoingwork,theMDBspublishedinJune2023theirjointmethodologicalprinciplesforalignmentofnewfinancingwiththegoalsoftheParisAgreement.ThisincludesmethodologicalguidanceonhowtooperationalisethenewoperationsaspectsofBuildingBlocks1and2ofMDBs’jointPAframework,fordifferenttypesoffinancinginstruments.vi2022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEThiseditionoftheJointReportonMultilateralDevelopmentBanks’2022ClimateFinancewaspreparedbytheEuropeanInvestmentBanktogetherwithpartnerstheAfricanDevelopmentBank,theAsianDevelopmentBank,theAsianInfrastructureInvestmentBank,theCouncilofEuropeDevelopmentBank,theEuropeanBankforReconstructionandDevelopment,theInter-AmericanDevelopmentBankGroup,theIslamicDevelopmentBank,theNewDevelopmentBankandtheWorldBankGroup.October2023Downloadthisreportat:www.eib.org/2022-joint-report-on-mdbs-climate-financeDownloadtheinfographicsummaryat:www.eib.org/2022-joint-report-on-mdbs-climate-finance-infographicPREFACEviiEXECUTIVESUMMARYThis12theditionoftheJointReportonMultilateralDevelopmentBanks’ClimateFinanceisanoverviewofclimatefinancecommittedin2022bytheAfricanDevelopmentBank(AfDB),theAsianDevelopmentBank(ADB),theAsianInfrastructureInvestmentBank(AIIB),theCouncilofEuropeDevelopmentBank(CEB),theEuropeanBankforReconstructionandDevelopment(EBRD),theEuropeanInvestmentBank(EIB),theInter-AmericanDevelopmentBankGroup(IDBG),theIslamicDevelopmentBank(IsDB),theNewDevelopmentBank(NDB)andtheWorldBankGroup(WBG).Asinpreviousyears,thedataandstatisticspresentedinthisyear’sreportresultfromtheapplicationoftheharmonisedmethodologiesdevelopedjointlybythemultilateraldevelopmentbanks(MDBs)fortheirannualcommitments.Inthisreport,theterm“MDBclimatefinance”referstothefinancialresources(fromownaccountsandMDB-managedexternalresources)committedbytheMDBstooperations,andcomponentsthereof,directedtoactivitiesthatmitigateclimatechangeand/orsupportadaptationtoclimatechange.Theterm“climateco-finance”referstothevolumeoffinancialresourcesinvestedbyotherpublicandprivateexternalpartiesalongsidetheMDBsforclimatechangemitigationandadaptationactivities.TheMDBshavereportedjointlyonclimatefinancesincethefirsteditionin2012,whichreportedfiguresfor2011,andhaveaddedjointreportingonclimateco-financesincethe2015edition.Startingwiththe2019report,forthepurposeofgreatertransparencyandconsistencythemultilateraldevelopmentbanksagreedtostartreportingonalleconomieswherethesebanksoperate,whilemaintainingthereport’sfocusonlow-andmiddle-incomeeconomies8.Thischangeallowedforaclearbreakdownbycountryincomelevel.TheMDBclimatefinancecommitmentsarepresentedinthisreportintwomaingroups:(1)low-incomeandmiddle-incomeeconomies,agroupingthatincludeslow,lower-middleandupper-middleincomeeconomies,and(2)high-incomeeconomies.Thesedatasetsarepresentedintwoseparatechaptersinthisandlastyear’sreport.TheMDBsendeavouredtoattributeanyclimatefinancefallingwithinthecategoryofglobal,multi-regionalandregionalprojectstospecificincomegroups.TheeconomiesarecategorisedbyincomegroupinaccordancewiththeWorldBankGroup’sclassificationdatedJune2022(seeTablesB.1andB.2).ThisversionofthereportalsoprovidesfurtheranalysisontheMDB’sclimatefinanceinLDCsandSIDSinAnnexA.5.LOW-ANDMIDDLE-INCOMEECONOMIESIn2022,$60.7billionwasforlow-incomeandmiddle-incomeeconomies.$38.0billion,or63%ofthistotal,wasforclimatechangemitigationfinanceand$22.7billionor37%wasforclimatechangeadaptationfinance.In2022,MDBsreported$48.7billionoftheirclimatefinanceforpublicrecipientsand$12.0billionforprivaterecipientsinlow-and-middleincomeeconomies.ThereportalsoshowsthatMDBclimatefinanceinvestmentsinlow-and-middleincomeeconomiesaresupportedbyatotalof$47.1billionforclimateco-finance,with58%inmitigationactivitiesand42%inadaptationactivities.65%ofclimateco-financeinlow-andmiddle-incomeeconomiescamefrompublicsourcesand35%fromprivatesources.HIGH-INCOMEECONOMIESIn2022,$38.8billionwasallocatedforhigh-incomeeconomies.$36.3billion,or94%ofthistotal,wasforclimatechangemitigationfinanceand$2.5billionor6%wasforclimatechangeadaptationfinance.8Before2019,thejointMDBreportcoveredclimatefinancefordevelopingandemergingeconomies.viii2022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEuserid:246491,docid:143438,date:2023-10-20,sgpjbg.comIn2022,themultilateraldevelopmentbanksreported$20.0billionoftheirclimatefinanceforpublicrecipientsand$18.8billionforprivaterecipientsinhigh-incomeeconomies.ThereportalsoshowsthatMDBclimatefinanceinvestmentsinhigh-incomeeconomiesaresupportedbyatotalof$72.0billioninclimateco-finance,with86%inmitigationactivitiesand14%inadaptationactivities.28%ofclimateco-financeinhigh-incomeeconomiescamefrompublicsourcesand72%fromprivatesources.Figure1apresentsMDBclimatefinancecommitmentsreportedfor2019-2022forlow-andmiddle-incomeeconomieswheretheMDBsoperate,whileFigure1bshowsMDBclimatefinancecommitmentsreportedforthesameperiodforhigh-incomeeconomieswherethebanksoperate.Figure1a.MDBs’climatefinancecommitmentsinlow-andmiddle-incomeeconomies,2019-22(in$billion)6060.73.750.77.12.441.53.94.82.33.6(0.9)0.3402.77.14.80.74.33.44.24.838.05.72.1$billion1.10.55.33.91.13.62.33.24.42.5200.50.321.331.728.018.402019202020212022AfDBADBAIIBCEBEIBIDBGADBNDBWBGEBRDIsDBExecutivesummaryixFigure1b.MDBs’climatefinancecommitmentsinhigh-incomeeconomies,2019-22(in$billion)4038.80.10.62.531.10.128.00.11.61.6$billion2020.11.132.918.124.628.1020190.50.90.50.71.30.4CEBEBRD0.8WBG20211.42020AIIB2022EIBIDBGNotesforFigures1aand1b:1.Startingin2021,thereportingofADB’sclimatefinanceisbasedoncommitmentsorsignaturesandnotonapprovals.Thisisinaccordancewiththedecisionmadein2017tomeasureandreportADB’scorporateperformancebasedoncommitmentsupto2030.ForADB,ExternalResourcesunderManagement(ERUM)includesADB-administeredfinancialresourcesfromfinancingpartners,includingAIIB.ADBadministersfinancingfromAIIBforseveralprojects,someofwhichhavecomponentsthatcontributetoclimatefinance.For2022,ADBreportsclimateadaptationfinanceof$7millionandclimatemitigationfinanceof$7millionfromADB-administeredfinancingfromAIIB.Toavoiddoublecounting,theseamountsareexcludedfromthetotalMDBamountsfor2022asAIIBreportsclimatefinanceforthesameprojectsasashareofitsfinancingunderownresources.TheprojectunderthissituationbelongstothecategoryofpublicrecipientintheEastAsiaandthePacificregion;itisagrantandisimplementedunderthecategoryof“Agriculture,forestry,landuseandfisheries”and“Otheragriculturalandecologicalresources”.Asimilarsituationoccurredin2021,when$0.9billionofADBclimatefinancewasexcludedfromthetotalMDBamountstoavoiddoublecounting.2.IDBG’sfigureshaveincludedallclimatefinanceforpublicandprivateborrowersorbeneficiariesinall26IDBGborrowingmembercountries,viaitsthreeoperationalwindows—IDB,IDBInvestandIDBLab—onthebasisofapprovalbytherespectiveBoardsofExecutiveDirectors.From2020onward,forIDBInvestonly,thefiguresrefertototalcommitmentsoflong-termfinance,inanefforttomoreaccuratelyreflectactualinvestmentsaswellasthemobilisationofprivate-sectoractors.In2022,IDBGclimatefinanceconsistedof:$5.9billionthroughIDB;$1.0billionthroughIDBInvest;and$24millionthroughIDBLab.3.TheIsDB-reportedclimatefinancecommitmentexcludesoperationsofsomeIsDBGroupmembers,namelytheIslamicCorporationfortheDevelopmentofthePrivateSector(ICD),theInternationalIslamicTradeFinanceCorporation(ITFC)andtheIslamicCorporationfortheInsuranceofInvestmentandExportCredit(ICIEC).4.EIB2019-22climatefinancecommitmentsshownhereincludeallEIBcountriesofoperation,includingallEUeconomies,whereasonlysomeEUeconomies’climatefinancecommitmentsaremadebytheEIB;EBRDandWBGwereincludedin2018andearlierMDBreports.PleaseseeAnnexBfordetailsofspecificgeographicalcoverageinpasteditionsoftheJointReport.5.WBGclimatefinanceresources(includingown-accountandmanagedexternalresources)forIFC,MIGAandtheIDAandIBRDwere$4.5billion(including$103millionofmanagedexternalresources),$1.1billionand$27.4billion(including$1.3billionofmanagedexternalresources),respectively,forthefiscalyear(FY)2022,whichcoverstheperiodfrom1July2021to30June2022.IFC’stotalcommitmentsofown-accountlong-termfinanceinFY22were$12.6billionandIFCreachedalevelof35%onlong-termfinanceown-accountclimatecommitments.ForMIGA,totalinvestmentsguaranteedamountinFY22were$4.1billionandclimatefinancereached28%.IDAandIBRDtotalown-accountcommitmentswere$70.8billionandtheshareofitsclimate-relatedfinancingreached37%.6.CEB,EBRDandEIBclimatefinancefiguresinthischartarebasedontheannualaverageEuropeanCentralBankrate.For2022theexchangerateusedis€1=$1.053.7.Numbersinthetablesandfiguresinthisreportmaynotadduptothetotalsshown,duetorounding.8.CEBandNDB2022climatefinancedatahavebeenpresentedinFigures1aand1bforthefirsttime,astheydidnotreporttheirclimatefinancedatainpreviousreportstogetherwiththeclimatefinancedatafromtheotherMDBs.a.Presentingclimatefinancedataseparatelyfromthejointfigure,theCEBcommittedatotalof$621millioninclimatefinancein2021.b.Presentingclimatefinancedataseparatelyfromthejointfigure,theNDBcommittedatotalof$816millionin2020,andatotalof$509millioninclimatefinancein2021.9.Thenumbersonthetopofthecolumnsshowthetotalsforeachyear,in$billionx2022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEThemultilateraldevelopmentbanksapplytwodistinctmethodologies—withfundamentallydifferentapproaches—totrackingclimatechangeadaptationfinance(or“adaptationfinance”)andclimatechangemitigationfinance(or“mitigationfinance”).Bothmethodologies,however,trackandreportclimatefinanceinagranularmanner.Inotherwords,theclimatefinancereportedcoversonlythosecomponentsand/orsub-componentsorelementsorproportionsofprojectsthatdirectlycontributetoorpromoteadaptationand/ormitigation.ThemultilateraldevelopmentbanksestimateadaptationfinanceusingthejointMDBmethodologyfortrackingclimatechangeadaptationfinance,whichinvolvesathree-stepapproach.Thismethodologyisbasedonacontext-andlocation-specific,granularandconservativeapproachandcapturestheamountsassociatedwithactivitiesdirectlylinkedtovulnerabilitytoaddressclimatechange.Thebankstryasfaraspossibletodifferentiatebetweentheirusualdevelopmentfinanceandfinanceprovidedwithanexplicitintenttoreducevulnerabilitytoclimatechange.ThismethodologyhasbeenupdatedusinganewjointmethodologyinOctober20229.InJuly2015themultilateraldevelopmentbanksandtheIDFCagreedaninitialsetofCommonPrinciplesforClimateAdaptationFinanceTracking10.Theorganisationscontinuetoharmonisetheirapproachestotrackingadaptationfinance.Climatechangeadaptationfinancein2022totalled$25.2billion,ofwhich90%wasdirectedatlow-andmiddle-incomeeconomies.Themultilateraldevelopmentbanks’methodologiesfortrackingclimatechangemitigationfinancealignwiththeCommonPrinciplesforClimateChangeMitigationFinanceTracking11thattheMDBsandtheIDFCjointlyagreedandfirstpublishedinMarch2015.AtCOP24in2018theyannouncedaplantoworkjointlytoreviewandstrengthentheCommonPrinciplesforClimateChangeMitigationFinanceTracking.MitigationfinanceisestimatedinaccordancewiththejointMDBmethodologyfortrackingclimatechangemitigationfinance,whichisbasedonalistofactivitiesinsectorsandsub-sectorsthatreducegreenhousegasemissionsandarecompatiblewithlow-emissiondevelopment.In2020,thebanksfinalisedtheirreviewofthemethodologyfortrackingclimatechangemitigationfinanceandcommencedtrackingusingthenewmethodologyon1January2021forAfDB,ADB,AIIB,CEB,EBRD,EIB,IDBG,IsDBandNDBandon1July2021fortheWBG,tocoincidewitheachinstitution’snewfiscalyear.Thenewversionofthemethodologyincludesamoregranularbreakdownoftypesofeligibleactivity,clearcriteriathatmustbemetandadditionalguidancetohelpinterpretation.Climatechangemitigationfinancein2022totalled$74.2billion,ofwhich51%wasdirectedatlow-andmiddle-incomeeconomies.Inadditiontoreportingonmitigationandadaptationfinance,somemultilateraldevelopmentbanksreportonvolumesofclimatefinancethathavedual,simultaneousbenefits:reducinggreenhousegasemissionsandpromotingadaptationtoclimatechange.In2022,AIIB,EBRD,IDBGandIsDBreportedatotalof$2759millionfordual-benefitprojects.SeeAnnexC.4forfurtherclimatefinancestatisticsandexamplesofsuchprojects.Giventherelativelysmallvolumesof“dual-benefit”climatefinanceandinordertosimplifydatapresentation,thetablesandgraphsthroughoutthisreportpresentdatabymitigationoradaptationfinance,asindicatedbythereportingmultilateraldevelopmentbanks.AnnexAprovidesadditionalinformationonMDBtotalclimatefinanceaggregatedacrossalltheircountriesofoperation.9JointMethodologyForTrackingClimateChangeAdaptationFinancehttps://www.eib.org/attachments/lucalli/20220242_mdbs_joint_methodology_climate_finance_en.pdf10TheCommonPrinciplesforClimateChangeAdaptationFinanceTrackingaresetoutinAnnexC.2:https://www.afdb.org/fileadmin/uploads/afdb/Documents/Generic-Documents/Common_Principles_for_Climate_Change_Adaptation_Finance_Tracking_-_Version_1__02_July__2015.pdf11TheCommonPrinciplesforClimateMitigationFinanceTrackingaresetoutinAnnexC.3:https://www.eib.org/attachments/documents/mdb_idfc_mitigation_common_principles_en.pdfExecutivesummaryxi1OVERVIEWOFMDBMETHODOLOGIESFORTRACKINGCLIMATEFINANCEThetrackingofMDBclimatefinanceisbasedontheharmonisedprinciplesandjointlyagreedmethodologiesfortrackingclimatechangeadaptationandmitigationfinancedetailedrespectivelyinAnnexC.2andAnnexC.3ofthisreport.Inthispublication,theterm“MDBclimatefinance”referstotheamountscommittedbythemultilateraldevelopmentbankstofinancingclimatechangemitigationandadaptationactivitiesintheprojectstheyundertake.SeeAnnexBfordetailsofthe2022report’sgeographiccoverage,andthatofpasteditions.MDBclimatefinanceincludescommitmentsfromthemultilateraldevelopmentbanks´ownaccounts,andfromexternalresourceschannelledthroughandmanagedbythebanks.Climateco-financeincludestheamountoffinancialresourcescontributedbyexternalresourcesalongsideMDBclimatefinance.Thesemayincludeentitiesfromboththeprivate(commercial)andpublic(non-commercial)sectors.1.1FINANCEFORADAPTATIONTOCLIMATECHANGEClimatechangeadaptationaimstoreducetherisksorvulnerabilitiesposedbyclimatechangeandincreaseclimateresilience.Identificationofclimatechangeadaptationfinanceistheresultofathree-stepprocessandthus,foraprojecttobecountedeitherfullyorpartiallytowardsMDBadaptationfinance,itmust:a.Setouttheproject’scontextofvulnerabilitytoclimatechange.b.Makeanexplicitstatementofintenttoaddressthisvulnerabilityaspartoftheproject.c.Articulateaclearanddirectlinkbetweenthevulnerabilityandthespecificprojectactivities.TheMDBmethodologyfortrackingclimatechangeadaptationfinancefollowsacontext-andlocation-specific,conservativeandgranularapproach.IttracksMDBfinancingonlyforthosecomponentsand/orsub-componentsorelementsorproportionsofprojectsthatdirectlycontributetoorpromoteadaptation.Itisimportanttonotethefollowing:a.Theadaptationfinancereportedmightnotcapturecertainactivitiesthatmaycontributesignificantlytoresiliencebutcannotalwaysbetrackedinquantitativeterms(forexample,operationalproceduresthatsupportadaptationtoclimatechange)ormightnotbeassociatedwithcosts(suchassitingassetsoutsideflood-proneareas).b.Climateadaptationfinance,asdefinedbythemethodology,isnotintendedtocapturethevalueofanentireprojectorinvestmentthatmayincreaseresilienceasaresultofspecificadaptationactivitiesthattakeplaceaspartoftheproject.c.Theadaptationfinancereportedcapturesfinancialsupportforactionsaimedat,amongothers,averting,minimising,andaddressingtheriskassociatedwiththeadverseeffectsofclimatechange,includingextremeweathereventsandslowonsetevents.Itincludessupportforanticipatoryactionsneededtoincreasepreparedness,reduceclimatevulnerability,andadapttotheexperiencedandanticipatedimpactsofclimatechange,aswellasfinancingofpost-disasterrecoveryandreconstructionneededintheaftermathofclimateshocks.d.ThisreportisbasedontheMDBs’methodologyfortrackingadaptationfinanceasdescribedinAnnexC.2.InNovember2022,theMDBsreleasedtheupdatedJointMethodologyforTrackingAdaptationFinance12.Theupdatedmethodologyreflectstheevolvingunderstandingofchangeadaptationandresilienceactivities,andtheadvancesmadeinthefieldsofadaptationfinance.TheMDBsstartedtoapplytheupdatedadaptationfinancetrackingmethodologytotheir2023commitments,whichwillbereportedinthejointMDBsclimatefinancereporttobepublishedin2024.12https://www.eib.org/en/publications/20220242-mdbs-joint-methodology-for-tracking-climate-change-adaptation-financeOverviewofmdbmethodologiesfortrackingclimatefinance11.2FINANCEFORTHEMITIGATIONOFCLIMATECHANGEClimatechangemitigationreduces,avoids,limitsorsequestersgreenhousegasemissionstomitigateclimatechange.However,notallactivitiesthatreducegreenhousegasemissionsareeligibletobecountedtowardsMDBmitigationfinance,whichiscalculatedbasedonalistofactivitiesthatarecompatiblewithlow-emissionpathways.WithintheMDB/IDFC“CommonPrinciplesforClimateMitigationFinanceTracking”13methodology,anactivitycanbeclassifiedasclimatechangemitigationwheretheactivity,byavoidingorreducinggreenhousegasemissionsorincreasingtheirsequestration,contributessubstantiallytothestabilisationofGHGconcentrationsintheatmosphereatalevelthatpreventsdangerousanthropogenicinterferencewiththeclimatesystemconsistentwiththelong-termtemperaturegoaloftheParisAgreement.Thecommonprinciplesrecognisethatasubstantialcontributiontoclimatechangemitigationcaninvolvethefollowingthreecategoriesofclimatechangemitigationactivities:1.Negativeorverylow-emissionactivities,whichresultinnegative,zeroorverylowgreenhousegasemissionsandarefullyconsistentwiththelong-termtemperaturegoaloftheParisAgreement,forexamplecarbonsequestrationinlanduseorsomeformsofrenewableenergy.2.Transitionalactivities,whicharestillpartofgreenhousegasemissions-emissivesystems,butareimportantforandcontributetothetransitiontowardsaclimate-neutraleconomy,suchasenergyefficiencyimprovementinmanufacturingthatdirectlyorindirectlyusesfossilfuels.3.Enablingactivities,whichareinstrumentalinenablingotheractivitiestomakeasubstantialcontributiontoclimatechangemitigationsuchasmanufactureofverylow-emissiontechnologies.AnnexC.3containsanexcerptofthemitigationmethodology(withthefulldescriptionbeingavailablewithintheMDB/IDFC"CommonPrinciplesforClimateChangeMitigationTracking”).Therearefundamentaldifferencesbetweenthetrackingmethodologiesforclimatechangeadaptationactivitiesandthoseformitigationactivities.Formitigationactivities,aone-tonnereductionincarbondioxide(CO2)emissionshasthesameimpactregardlessofwheretheactivitiestakeplace.Itisthereforepossibletodefinelistsoftypicalactivitiesthataredeemedtosupportthepathtolow-carbondevelopment.However,adaptationactivitiesareproject-andlocation-specific,andtheyrespondtospecificclimatevulnerabilities.Therefore,unlikemitigationactivities,itisnotpossibletoproduceastandalone“listofadaptationactivities”thatcanbeusedunderallcircumstances.Whencomparingclimatefinancedata,itisimportanttounderstandthedifferencesandsimilarities.Table1asummarisesthekeypointsinthisregard.AnnexesC.2andC.3containexamplesoftheadaptationandmitigationmethodologies’applicationinvarioussectorsandprojecttypes.Box1providesinformationonanupdatetothemethodologyfortrackingadaptationfinance,agreedbyallMDBsandlaunchedatCOP27.Thisupdatedversionofthemethodologyhasnotbeenusedforthepreparationofthis2022report,butwillbeusedfor2023reporting.13mdb_idfc_mitigation_common_principles_en.pdf(eib.org)22022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETable1a.ComparisonofmethodologiesfortrackingadaptationandmitigationfinanceCLIMATECHANGEACTIVITYItemAdaptationMitigationGeneralscopeofTheactivityistypicallyacomponentorelementqualifyingactivityofaproject,andincertaincircumstancesThisistypicallyaproject(orcomponentthereof)anentireproject,contributingtoresiliencethatavoids,reducesorsequestersgreenhouseBasisfortracking(includingsocioeconomicresilience)orgasemissions,orpromoteseffortstoachieveadaptationtoclimatechange.thesegoals.GranularapproachAdaptationfinancetrackingisincrementaltofinancetracking(component-based);itonlytakesintoaccountMitigationfinancetrackingiseitherproject-orthoseactivitiesthatspecificallyaddresscomponent-based.Scaleofimpactvulnerabilitytoclimatechange.EligibleIndicator(s)tocomponentsareusuallypartsofalargerProject-based:Ifthewholeprojectisconsideredquantifyandproject,forexample,water-savingequipmenttobeamitigationactivity,forexample,atypicalcompareprojectthatispartofalargercapitalexpenditurerenewableenergyprojectoraprojectdedicatedoutcomesinvestmentinanareavulnerabletoincreasedtoimprovingtheenergyefficiencyofanexistingriskofdrought.facility,then100%oftheprojectinvestmentQualificationforisconsideredtobemitigationfinance,whereclimatefinanceTheadaptationfinancemethodologyisapplicablecriteriaaremet.intendedtocaptureonlythevalueofthoseClimatefinanceactivitieswithintheprojectthatareaimedatComponent-based:Withinaproject,ifonlytrackingaddressingspecificclimatevulnerabilities.Itisacomponentofthatprojectisamitigationnotintendedtocapturethevalueoftheentireactivity,suchasinstallationofenergy-efficientprojectthatismademoreclimate-resilientasaequipmentthatispartofalargercapitalresultofspecificadaptationactivitieswithintheexpenditureinvestment,thentherespectiveproject.fractionoftheprojectisconsideredtobeLocal,regional,nationalorglobalmitigationfinance.Multiple(project-andcontext-specific)indicatorsareneeded;theintendedoutcomesdependonAgranularapproachisused.Climatefinancethenatureoftheproject.methodologyisintendedtocaptureonlythevalueoftheprojectoritscomponentsthatQualificationisbasedonathree-stepassessmentsubstantiallycontributetoclimatechangeprocess,takingintoaccounttheclimatechangemitigation,demonstratedusingapplicablevulnerabilitycontextandthespecificprojectmetrics(suchasemissionorenergyintensity)intenttoreduceclimatevulnerabilities.subjecttotherequirementsspecifiedintheeligiblelistofactivities.Followingthethree-stepassessmentprocess,ashareofthoseprojectcomponentsthatGlobalareclearlyanddirectlylinkedtotheclimatevulnerabilitycontextandcontributetoclimateUltimately,theimpactofallmitigationprojectschangeresilienceisclassifiedasclimatecanbeassessedonthebasisoftheirdirectchangeadaptationfinance.greenhousegasemissionsreductions(suchasimplementationofenergy-efficientequipmentinabuilding)orindirectgreenhousegasemissionreductions(suchasthemanufactureofelectricvehicleshelpingtoreduceemissionsthroughsubstitutionofinternalcombustionenginevehiclesinthemarket).Qualificationisbasedonalistofeligibleactivitieswithassociatedscreeningcriteriathatservetoassessqualificationforclimatemitigationfinance.Overarchingcriteriaalsoapply.SeeAnnexC.3forfurtherdetails.Financingoftheeligibleprojectactivitiesisclassifiedasclimatechangemitigationfinancewhereassociatedcriteriaaremet.Overviewofmdbmethodologiesfortrackingclimatefinance3Box1.UpdatedjointMDBmethodologyfortrackingadaptationfinanceBetween2021and2022,theMDBscarriedoutareviewofthejointMDBmethodologyfortrackingadaptationfinance.Thereviewbuiltoncollectiveexperiencesofapplyingthemethodologyovertheprecedingdecade.Itaimedtobettercharacteriseadaptationactivitiesforthepurposeoftrackingadaptationfinanceandprovideguidanceontheapplicationofthejointmethodologyinabroaderrangeoffinancinginstruments.Theoutcomewasanupdatetothemethodology14thatreflectedtheevolvingunderstandingofadaptationandclimateresilienceandadvancesmadeinthefieldsofadaptationfinance.Thesedevelopmentsincludethefollowing:a.Adaptationisnolongerviewedpurelyasanadd-ontodevelopmentinvestments,butratherasanimperativeforputtingdevelopmentonthepathtoresilience.Asaresult,adaptationsupporthasexpandedfromtraditionalinfrastructuresectorstoawiderrangeofsectors,suchaseducation,health,socialprotection,financialservices,andresearchandinnovationforadaptationsolutions.b.Financingmodalitiessupportingadaptationhavebroadenedfromtypicalinvestmentloansandprogrammestootherfinancialinstruments,includingpolicy-basedloans,workingcapitalandcreditlines.c.Relevantadvancesconcerninggreenandsustainablefinancehaveemergedinrecentyears,notablytheEUtaxonomyforsustainablefinanceandimpactreportingforgreenbonds,introducingnewconceptsandapproachesforbetterdefining,reportingandmonitoringadaptationactivities,includingprivateinvestmentinadaptation.1.3METHODOLOGYFORCLIMATECO-FINANCESince2015themultilateraldevelopmentbankshasbeenreportingonclimateco-finance(CCF)flowsinlinewiththeharmoniseddefinitionsandindicatorsthathadbeenestablishedtoestimatethem.Trackingofclimateco-financeaimstoestimatethevolumeoffinancialresourcesinvestedbypublicandprivateexternalpartiesalongsidemultilateraldevelopmentbanksfinancingforclimatemitigationandadaptationactivities.Thisapproachpresentssourcesofclimateco-financeinthefollowingcategories:(i)othermultilateraldevelopmentbanks;(ii)IDFCmemberinstitutions,includingbilateralandmultilateralmembers;(iii)otherinternationalpublicentitiessuchasdonorgovernments;(iv)contributionsfromotherdomesticpublicentitiessuchasrecipientcountrygovernments(forexample,financingbylocalcounterparts);and(v)allprivateentities(definedasthosewithatleast50%oftheirsharesheldprivately),splitintoprivatedirectmobilisationandprivateindirectmobilisation.Thislevelofgranularityenablesmultilateraldevelopmentbankstopresentanincreasinglynuancedpictureofco-financeflowsusedforclimatechangeinterventions.InApril2017themultilateraldevelopmentbankspublishedareferenceguide(FromBillionstoTrillions:TransformingDevelopmentFinance)15toexplainhowtheycalculateandjointlyreportprivateinvestmentmobilisationbeyondclimatefinance.ThepurposeofthemethodologyistorecogniseandmeasuretheprivatecapitalmobilisedinMDBprojectactivities.Theguideoutlinesthebanks´jointcommitmenttomobilisingincreasedinvestmentfromtheprivatesectorandinstitutionalinvestors.Totalfinancingofclimateactivityincludesclimateco-finance,thatis,theamountoffinancialresourcesthatexternalentitiescontribute.ThemultilateraldevelopmentbanksareimplementingthedefinitionsandrecommendationsoftheMDBTaskforceonPrivateInvestmentMobilisationfortrackingtheprivateshareofclimateco-finance.ThismethodologyfocusesonassessingtheprivatefinancemobilisedbyanMDB,onaproject-by-projectbasis,suchasprivatedirectmobilisationandprivateindirectmobilisation16.The2022JointReportonMDBs’ClimateFinancefollowstheagreedterminology17andChapters2.4,3.4andAnnexA.4showtwodifferentelementsofprivatefinancemobilisation:“privatedirectmobilisation”and“privateindirectmobilisation”.Puttogether,thesetwoformsofmobilisationrepresenttheprivateshareofclimateco-finance.14Jointmethodologyfortrackingclimatechangeadaptationfinance(eib.org)15http://documents.worldbank.org/curated/en/495061492543870701/pdf/114403-WP-PUBLIC-cedvp-14p-JointMDBReportingonPrivateInvestmentMobilizationMethodologyReferenceGuide.pdf16http://documents.worldbank.org/curated/en/495061492543870701/pdf/114403-WP-PUBLIC-cedvp-14p-JointMDBReportingonPrivateInvestmentMobilizationMethodologyReferenceGuide.pdf17SeeAnnexC.1fordefinitionsof“privatedirectmobilisation”,“privateindirectmobilisation”and“publicdirectmobilisation”.42022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEFigure2.Totalactivityfinancing,bytypeoffinancePrivateindirectPrivatedirectMDBownaccountExternalPublicco-financemobilisationmobilisationresourcesmanagedbyMDBTotalprivatemobilisationMDBclimatefinanceOverviewofmdbmethodologiesfortrackingclimatefinance562022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCE2MDBCLIMATEFINANCEINLOW-ANDMIDDLE-INCOMEECONOMIES,20222.1MDBCLIMATEFINANCEINLOW-ANDMIDDLE-INCOMEECONOMIESIn2022,multilateraldevelopmentbankscommitted$60.7billiontolow-incomeandmiddle-incomeeconomies,thussurpassingtheannualexpectationof$50billionsetinthejointMDBHighLevelStatementof2019.Ofthe$60.7billionofclimatefinancecommittedtolow-incomeandmiddle-incomeeconomies,$57.7billionwasfromtheMDBs’ownaccountand$3.0billionwasinexternalresourceschannelledthroughMDBs.Mitigationfinancecommittedtolow-andmiddle-incomeeconomiestotalled$37.9billion,or63%,whileadaptationfinancetotalled$22.7billion,or37%.SourcesofMDBclimatefinancearesplitbetweenthemultilateraldevelopmentbanks’ownaccountsandtheexternalresourceschannelledthroughandmanagedbythem.Externalresourcesincludetrust-fundedoperations,suchasthosefundedbybilateralagenciesanddedicatedclimatefinancefundssuchastheClimateInvestmentFunds(CIF),theGreenClimateFund(GCF)andclimate-relatedfundsundertheGlobalEnvironmentFacility(GEF),EUblendingfacilitiesandothers.Asbilateralreportingmayalreadycoversomeexternalresources,thosemanagedbytheMDBsarepresentedseparatelyfromthemultilateraldevelopmentbanks’ownaccounts.Table2.MDBclimatefinanceinlow-andmiddle-incomeeconomies,2022(in$million)AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotalOwnaccount31516721231129539494097530410504663033457,679MDB-managedexternal500385--34067373--13332,985resourcesMDBclimate36517107231129542894165567810504663166660,664financeNotes:1.“MDBclimatefinance”referstothesumofclimatefinancefromtheMDBs’ownaccountsandMDB-managedexternalresources.2.ForIsDB,thereportedcommitmentexcludesoperationsofIsDBGroupmembersincludingtheIslamicCorporationfortheDevelopmentofthePrivateSector(ICD),theInternationalIslamicTradeFinanceCorporation(ITFC)andtheIslamicCorporationfortheInsuranceofInvestmentandExportCredit(ICIEC).3.()Seefootnote1forFigures1aand1b.Table3.MDBclimatefinancebyscopeinlow-andmiddle-incomeeconomies,2022(in$million)MDBAdaptationfinanceMitigationfinanceMDBclimatefinanceAfDB227613753651ADB282942777107AIIB42318892311CEB21184295EBRD30039894289EIB43137344165IDBG204536335678IsDB5714791050NDB0466466WBG136401802731666Total227183794660664Notes:1.Incertaincases,MDBsfinanceactivitiesthathavesimultaneousbenefitsformitigationandadaptation.The2022figureof$2354millionofclimatefinancewithdualbenefitsinlow-andmiddle-incomeeconomiesispresentedunderthesubheadingofmitigationoradaptationfinance(basedonthemostrelevantelementsoftheproject)tosimplifyreporting(SeeAnnexC.4).TheAIIBreported$127million,theEBRDreported$106million,theIDBGreported$1792million,andtheIsDBreported$329millionasdual-benefitprojects.NotethattheIDBGandtheIsDBsplitdual-benefitfinanceequallybetweenadaptationandmitigationcategories,whiletheAIIBandtheEBRDallocatealldual-benefitactivitiestoadaptationfinance.SeeAnnexC.4forfurtherdetails.2.()Seefootnote1forFigures1aand1b.Mdbclimatefinanceinlow-andmiddle-incomeeconomies,202272.1.1MDBCLIMATEFINANCEBYTYPEOFRECIPIENTORBORROWERINLOW-ANDMIDDLE-INCOMEECONOMIESThemultilateraldevelopmentbanksreportonthenatureoffirstrecipientsorborrowersoftheirclimatefinance(thosetowhichfinancewillflowdirectlyfromtheMDBs),differentiatingbetweenpublicandprivaterecipientsorborrowers.TotalcommitmentvariessignificantlybetweentheMDBs’ownaccountsandMDB-managedexternalresources,asTable4illustrates.Table5showsthesplitbytypeofrecipientorborrowerforthebanks’ownaccountsandforMDB-managedexternalresources.Table4.MDBclimatefinancebysourceoffundsandbytypeofrecipientorborrowerinlow-andmiddle-incomeeconomies,2022(in$million)TypeofrecipientorborrowerMDBownaccountMDB-managedexternalresourcesPublicrecipient/borrower461462491Privaterecipient/borrower11532495Total576792985()Seefootnote1forFigures1aand1b.Table5.MDBclimatefinancebytypeofrecipientorborrowerinlow-andmiddle-incomeeconomies,2022(in$million)MDBPrivatePublicAfDB7772874ADB5476560AIIB6481664CEB-EBRD295EIB27071581IDBG14402724IsDB10144664NDB1050WBG-Total-466489426773()Seefootnote1forFigures1aand1b.120274863782022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCE2.1.2MDBCLIMATEFINANCEBYTYPEOFINSTRUMENTINLOW-ANDMIDDLE-INCOMEECONOMIESFortheeighthconsecutiveyear,themultilateraldevelopmentbanksreportedclimatefinancebythetypesoffinancialinstrument(seeAnnexC.5fordefinitions).Theyreportedthat61%ofclimatefinanceforlow-andmiddle-incomeeconomieswascommittedthroughinvestmentloans,followedbypolicy-basedfinancing(14%)andgrants(10%).IllustrativeexamplesofvarioustypeofinstrumentarepresentedintablesinAnnexC.5.Table6.MDBclimatefinancebytypeofinstrumentinlow-andmiddle-incomeeconomies,2022(in$million)InstrumenttypeClimatefinanceEquity1008Grant6078Guarantee1766Investmentloan36854Lineofcredit2839Policy-basedfinancing8427Results-basedfinancing2105Otherinstruments1586Total60664Notes:1.AnnexC.5definesthevarioustypeofinstrument.2.Otherinstrumentsincludeadvisoryservicesandbonds.SomeMDBsreporteligiblebondsunderthecategoryofinvestmentloans.3.()Seefootnote1forFigures1aand1b.Figure3.MDBclimatefinancebytypeofinstrumentinlow-andmiddle-incomeeconomies,2022(in$million)2%3%2%10%TOTALCLIMATEFINANCEBYINSTRUMENT14%3%$60664million5%Equity$1008millionGrant$6078millionTOTALGuarantee$1766million$60664millionInvestmentloan$36854millionLineofcredit$2839millionPolicy-basedfinancing$8427millionResults-basedfinancing$2105millionOtherinstruments$1586million61%()Seefootnote1forFigures1aand1b.Mdbclimatefinanceinlow-andmiddle-incomeeconomies,202292.1.3MDBCLIMATEFINANCEBYREGIONINLOW-ANDMIDDLE-INCOMEECONOMIESMultilateraldevelopmentbanks’climatefinancecommitmentsgroupedbyregion18.Table7.MDBclimatefinancebyregioninlow-andmiddle-incomeeconomies,2022(in$million)RegionClimatefinance2628CentralAsia9846EastAsiaandthePacific330Europe:EuropeanUnion4826Europe:Non-EuropeanUnionLatinAmericaandtheCaribbean12670MiddleEastandNorthAfrica4715SouthAsia7471Sub-SaharanAfricaMulti-regional16334Total1843()Seefootnote1forFigures1aand1b.60664Figure4.MDBclimatefinancebyregioninlow-andmiddle-incomeeconomies,2022(inUS$million)3%4%TOTALCLIMATEFINANCEBYREGION16%$60664million27%CentralAsia$2628million1%EastAsiaandthePacific$9846millionEurope:EU$330million$606T6O4TAmLillion8%Europe:Non-EU$4826millionLatinAmericaandtheCaribbean$12670million12%MiddleEastandNorthAfrica$4715million21%SouthAsia$7471millionSub-SaharanAfrica$16334million8%Multi-regional$1843million()Seefootnote1forFigures1aand1b.2.2MDBADAPTATIONFINANCEINLOW-ANDMIDDLE-INCOMEECONOMIES,2022In2022atotalof$25.2billionwascommittedforclimatechangeadaptationfinance,with$22.7billion,or90%,committedtolow-andmiddle-incomeeconomies,thussurpassingtheirexpectedcollectivedeliveryofincreasingadaptationfinanceto$18billion,setinthejointMDBHighLevelStatementof2019.Thedatareportedcorrespondtotheincrementalcostsofprojectcomponents,sub-components,orelements,orproportionsofprojects,whichareconsideredtobeinputstoanadaptationprocessandareintendedtoreducevulnerabilitytoclimatechangeandbuildresiliencetoit.18SeeTablesB.1andB.2forregionalgroupings.102022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETable8presentsthe2022adaptationfiguresbybankforlow-andmiddle-incomeeconomies,withabreakdownofclimateadaptationfinancecommittedbythemultilateraldevelopmentbanksfromtheirownaccountsandfromMDB-managedexternalresourcesinlow-andmiddle-incomeeconomies.Table8.MDBadaptationfinancebyMDBaccordingtosourceoffundsinlow-andmiddle-incomeeconomies,2022(in$million)AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotal4232112524241996571-1287821473MDBown19932726account-423MDB-managed282103-48748--7621245external-13,64022718resourcesTotal227628292113004432,045571()Seefootnote1forFigures1aand1b.Table9showsabreakdownbytypeofrecipientorborrower.Table9.MDBadaptationfinancebyMDBandbytypeofrecipientorborrowerinlow-andmiddle-incomeeconomies,2022(in$million)MDBPrivatePublicAfDB2612015ADB892740AIIB5CEB-418EBRD145211EIB211155IDBG118220IsDB-1927NDB-571WBG128-95613512Total21762()Seefootnote1forFigures1aand1b.Table10breaksdownMDBadaptationfinancebytypeofinstrument.Themultilateraldevelopmentbanksreportedthatthemajority(62%)ofadaptationfinanceforlow-andmiddle-incomeeconomieswascommittedthroughinvestmentloans,followedbygrants(16%)andpolicy-basedfinancing(13%).Table10.MDBadaptationfinancebyMDBandbytypeofinstrumentinlow-andmiddle-incomeeconomies,2022(in$million)InstrumenttypeAdaptationfinanceEquity7GrantGuarantee3539Investmentloan289LineofcreditPolicy-basedfinancing14091Results-basedfinancing767OtherinstrumentsTotal3032()Seefootnote1forFigures1aand1b.80418822718Mdbclimatefinanceinlow-andmiddle-incomeeconomies,202211Figure5.MDBadaptationfinancebyMDBandbytypeofinstrumentinlow-andmiddle-incomeeconomies,2022(in$million)1%3%2%15%TOTALCLIMATEFINANCEBYINSTRUMENT13%$22718million3%1%Equity$7millionTOTALGrant$3539million$22718millionGuarantee$289millionInvestmentloan$14091millionLineofcredit$767millionPolicy-basedfinancing$3032millionResults-basedfinancing$804millionOtherinstruments$188million62%()Seefootnote1forFigures1aand1b.Table11showstotaladaptationfinancebyregion.Thelargestproportionsofadaptationfinanceinlow-andmiddle-incomeeconomieswereinthefollowingregions:Sub-SaharanAfrica,SouthAsia,andLatinAmericaandtheCaribbean.Table11.MDBadaptationfinancebyregioninlow-andmiddle-incomeeconomies,2022(in$million)RegionAdaptationfinanceCentralAsia812EastAsiaandthePacificEurope:EuropeanUnion2718Europe:Non-EuropeanUnion3LatinAmericaandtheCaribbeanMiddleEastandNorthAfrica1049SouthAsia3635Sub-SaharanAfrica1805Multi-regional3884Total8659()Seefootnote1forFigures1aand1b.15422718Figure6.MDBadaptationfinancebyregioninlow-andmiddle-incomeeconomies,2022(in$million)1%TOTALADAPTATIONFINANCEBYREGION$22718million3%12%CentralAsia$812million0%EastAsiaandthePacific$2718millionEurope:EU$3million5%Europe:Non-EU$1049million38%LatinAmericaandtheCaribbean$3635millionMiddleEastandNorthAfrica$1805millionTOTALSouthAsia$3884million$22718millionSub-SaharanAfrica$8659millionMulti-regional$154million16%8%17%()Seefootnote1forFigures1aand1b.122022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETable12reportsMDBadaptationfinancebysector,with30%inenergy,transportandotherbuiltenvironmentandinfrastructure,followedbycross-cuttingoperationswith17%,and15%inwaterandwastewatersystems.Table12.MDBadaptationfinancebysectorinlow-andmiddle-incomeeconomies,2022(in$million)SectorgroupAdaptationfinanceCoastalandriverineinfrastructure306CropandfoodproductionCross-cuttingsectors2894Energy,transport,andotherbuiltenvironmentandinfrastructure3839Financialservices6847Industry,manufacturingandtrade1575InformationandcommunicationstechnologyInstitutionalcapacitysupportortechnicalassistance29Otheragriculturalandecologicalresources138Waterandwastewatersystems2205Total1540()Seefootnote1forFigures1aand1b.334422718Figure7.MDBadaptationfinancebysectorinlow-andmiddle-incomeeconomies,2022(in$million)1%15%13%TOTALADAPTATIONFINANCEBYSECTOR$22718million7%Coastalandriverineinfrastructure$306million16%Cropandfoodproduction$2894millionCross-cuttingsectors$3839millionTOTALEnergy,transportandotherbuiltenvironmentandinfrastructure$6847million10%$22718millionFinancialservices$1575millionIndustry,manufacturingandtrade$29million1%Informationandcommunications0%7%technology$138millionInstitutionalcapacitysupportor30%technicalassistance$2205millionOtheragriculturalandecologicalresources$1540millionWaterandwastewatersystems$3344million()Seefootnote1forFigures1aand1b.Mdbclimatefinanceinlow-andmiddle-incomeeconomies,202213Adaptationfinancebyregion,forlow-andmiddle-incomeeconomies,withafurtherbreakdownbysector,ispresentedinTable13.Table13.MDBadaptationfinancebysectorandregioninlow-andmiddle-incomeeconomies,2022(in$million)CentralEastAsiaEurope:Europe:LatinMiddleSouthSub-Multi-TotalAsiaandtheEuropeanNon-AmericaEastandAsiaSaharanregionalPacificUnionEuropeanandtheNorthUnionCaribbeanAfricaAfricaCoastalandriverine154--1021654745306infrastructureCropandfood11946-89996222881534972894productionCross-cutting781058-675892117481077123839sectorsEnergy,transport,andotherbuilt156751351769513423012264276847environmentandinfrastructureFinancial3131-02832528981531575servicesIndustry,manufacturing0--129-7--29andtradeInformationandcommunications39-383-26590138technologyInstitutionalcapacitysupport1152-2259548912874332217ortechnicalassistanceOtheragricultural209388-23228423261631540andecologicalresourcesWaterand232230-77672439212147843344wastewatersystemsTotal812271831049363518053884865915422718()Seefootnote1forFigures1aand1b.2.3MDBMITIGATIONFINANCEINLOW-ANDMIDDLE-INCOMEECONOMIES,2022In2022,themultilateraldevelopmentbanksreportedatotalof$74.2billioninfinancialcommitmentsforthemitigationofclimatechange,with$37.9billion,or51%,committedtolow-incomeandmiddle-incomeeconomies.Datareportedcorrespondtothefinancingofmitigationprojectsorofthosecomponents,sub-components,elements,orproportionsofprojectsthatprovidemitigationbenefits(ratherthanreportingtheentireprojectcost).Table14providesabreakdownofclimatemitigationfinancecommittedbythemultilateraldevelopmentbanksduring2022fromMDBown-accountandexternalresourcesinlow-andmiddle-incomeeconomies.142022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETable14.MDBmitigationfinancebyMDB,accordingtosourceoffundsinlow-andmiddle-incomeeconomies,2022(in$million)AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotal1889843697367433084794661745636206MDBown11573995account--1740188947937946MDB-managed217282-29260325-570externalresourcesTotal137542778439893734363346618027()Seefootnote1forFigures1aand1b.Table15showsabreakdownbytypeofrecipientorborrower.Table15.MDBmitigationfinancebyMDBandbytypeofrecipientorborrowerinlow-andmiddle-incomeeconomies,2022(in$million)MDBPrivatePublicAfDB516859ADB458AIIB6433819CEB-1246EBRDEIB256384IDBG12291426IsDB2505NDB8962737WBG--479Total466()Seefootnote1forFigures1aand1b.4766132611107126875Table16breaksdownMDBmitigationfinancebytypeofinstrument.Themultilateraldevelopmentbanksreportedthat60%oftotalmitigationfinanceforlow-andmiddle-incomeeconomieswascommittedthroughinvestmentloans,followedbypolicy-basedfinancing,withashareof14%.Table16.MDBmitigationfinancebytypeofinstrumentinlow-andmiddle-incomeeconomies,2022(in$million)InstrumenttypeMitigationfinanceEquity1001Grant2539Guarantee1477InvestmentloanLineofcredit22763Policy-basedfinancing2072Results-basedfinancing5395Otherinstruments1301Total1399()Seefootnote1forFigures1aand1b.37946Mdbclimatefinanceinlow-andmiddle-incomeeconomies,202215Figure8.MDBmitigationfinancebytypeofinstrumentinlow-andmiddle-incomeeconomies,2022(in$million)3%4%3%7%TOTALMITIGATIONFINANCEBYTYPEOFINSTRUMENT$37946million4%14%Equity$1001millionGrant$2539million5%TOTALGuarantee$1477millionInvestmentloan$22763million$37946millionLineofcredit$2072millionPolicy-basedfinancing$5395millionResults-basedfinancing$1301millionOtherinstruments$1399million60%()Seefootnote1forFigures1aand1b.Table17showstotalmitigationfinancebyregion.Thelargestproportionsofmitigationfinanceinlow-andmiddle-incomeeconomieswereinthefollowingregions:LatinAmericaandtheCaribbean(24%),Sub-SaharanAfrica(20%),andEastAsiaandthePacific(19%).Table17.MDBmitigationfinancebyregioninlow-andmiddle-incomeeconomies,2022(in$million)RegionMitigationfinanceCentralAsia1816EastAsiaandthePacific7128Europe:EU327Europe:Non-EU3777LatinAmericaandtheCaribbean9036MiddleEastandNorthAfrica2910SouthAsia3587Sub-SaharanAfrica7675Multi-regional1689TotalNotes:()Seefootnote1forFigures1aand1b.37946Figure9.MDBmitigationfinancebyregioninlow-andmiddle-incomeeconomies,2022(in$million)4%5%19%TOTALMITIGATIONFINANCEBYREGION20%$37946million1%TOTAL10%CentralAsia$1816million$37946millionEastAsiaandthePacific$7128million9%Europe:EU$327millionEurope:Non-EU$3777million8%LatinAmericaandtheCaribbean$9036million24%MiddleEastandNorthAfrica$2910millionSouthAsia$3587millionSub-SaharanAfrica$7675millionMulti-regional$1689million()Seefootnote1forFigures1aand1b.162022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETable18reportsthemultilateraldevelopmentbanks’mitigationfinanceinlow-andmiddle-incomeeconomiesbysectorwith31%inenergy,followedby23%intransport.Table18.MDBmitigationfinancebysectorinlow-andmiddle-incomeeconomies,2022(in$million)RegionMitigationfinanceEnergy11735Miningandmetalproductionforclimateaction-Manufacturing1943Agriculture,forestry,landuseandfisheries2292Watersupplyandwastewater1418Solidwastemanagement572Transport8650Buildings,publicinstallationsandend-useenergyefficiency2934Informationandcommunicationstechnology(ICT)anddigitaltechnologies239Research,developmentandinnovation121Cross-sectoralactivities8042Total37946()Seefootnote1forFigures1aand1b.Figure10.MDBmitigationfinancebysectorinlow-andmiddle-incomeeconomies,2022(in$million)TOTALMITIGATIONFINANCEBYSECTOR$37946million21%Energy$11735million31%Miningandmetalproductionfor1%TOTALclimateaction$-million1%$37946millionManufacturing$1943million8%Agriculture,forestry,landuseandfisheries$2292million5%0%Watersupplyandwastewater$1418million6%Solidwastemanagement$572million23%4%Transport$8650million1%()Seefootnote1forFigures1aand1b.Buildings,publicinstallationsandend-useenergyefficiency$2934millionInformationandcommunicationstechnology(ICT)anddigitaltechnologies$239millionResearch,developmentandinnovation$121millionCross-sectoralactivities$8042millionMitigationfinancebyregion,withfurtherbreakdownbysectors,ispresentedinTable19.Table19.MDBmitigationfinancebysectorandbyregioninlow-andmiddle-incomeeconomies,2022(in$million)CentralEastAsiaEurope:Europe:LatinMiddleSouthSub-Multi-TotalAsiaandtheEuropeanNon-AmericaEastandAsiaSaharanregionalPacificUnionEuropeanandtheNorthUnionCaribbeanAfricaAfricaEnergy888140713120020597591271324389411735Mining----------andmetalproductionfor74253-617431244151541481943climateaction228673-604419066681542292ManufacturingAgriculture,forestry,landuseandfisheriesMdbclimatefinanceinlow-andmiddle-incomeeconomies,202217CentralEastAsiaEurope:Europe:LatinMiddleSouthSub-Multi-TotalAsiaandtheEuropeanNon-AmericaEastandAsiaSaharanregionalPacificUnionEuropeanandtheNorthUnionCaribbeanAfricaAfricaWatersupply33261-3251411517528701417andwaste-water24572428650Solidwaste78272-2911924124management11231006Transport1452642295100413671027Buildings,163275172405834623326042572934publicinstallationsandend-useenergyefficiencyInformationandcommuni-cationstech--39-1940-396634238nology(ICT)anddigitaltechnologiesResearch,development-22-51183918121andinnovationCross-sectoral2071296-574343018855715712188041activities35877675168937946Total18167128327377790362910()Seefootnote1forFigures1aand1b.2.4CLIMATECO-FINANCEINLOW-ANDMIDDLE-INCOMEECONOMIES,2022Themultilateraldevelopmentbanks’climateco-financeisbasedontheirharmoniseddefinitionswhichcanbeconsultedinSection1.3.Table21shows2022climateco-financeflowsasreportedbyeachinstitution,segmentedbythesourceofco-financing.TheseCCFfiguresarethebestestimateofresourceflowsbasedoninformationavailableatthetimeofboardapprovaland/orcommitmenttoeachproject.Insomecases,twoormorebanksjointlyfinanceaproject,whichresultsinsomeoverlapbetweenthegrossco-financefiguresreportedbythedifferentorganisations.Table20showsclimateco-financeflowsbyadaptationandmitigationforlow-andmiddle-incomeeconomies.Inordertoavoiddoublecounting,thelastcolumnofTables21and22netsoutpotentiallydouble-countedco-financingbyconsideringonlytheproportionofco-financingforeveryprojectthatfeaturesco-financingfromanotherMDB.Inthereferenceguide,themultilateraldevelopmentbanksemphasisethedifferencesinhowvariousfinancialinstruments,includingguarantees,aretrackedandreported.Bymitigatingthepoliticalandcommercialrisksofprivateandpubliclyownedinvestments,guaranteescanfacilitateaccesstocapitalforclimatefinanceactivities.Thiscanenhancethemobilisationofresourcesforaspecificprojectorinsupportofspecificgovernmentpolicies.ForconsistencywiththeagreedMDBmethodologyontrackingandreportingmobilisedprivatecapital,thetrackingandreportingofguaranteesasdetailedinthisreportassumes:(i)adistinction182022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEintrackingandreportingbetween“commercialguarantees”and“non-commercialguarantees”19;and(ii)causalitybetweentheguaranteeandtheunderlyinginvestmentcovered(inotherwords,intheabsenceoftheguarantee,theunderlyinginvestmentwouldbeunlikelytooccur).Forthisreason,grossexposurefromtheguaranteeissuanceandtheunderlyinginvestmentmaybereportedseparatelyunderthebanks’ownaccountandprivateco-finance,whilebesteffortsaremadetominimisedoublecounting.Table21reflectsthe2022CCFflows,includingthedirectandindirectmobilisationattributedtoguarantees.TheguaranteeexposureofeachMDBhasbeenshownas“ownaccount”inTables2,22,27and48.Table20.Climateco-financeflowsbyMDBandbythematicfocusinlow-andmiddle-incomeeconomies,2022(in$million)AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotalAdjustment140640752231181climateformultiple25824297164853398883723879co-MDB234financefinancingMitigation4376701024471163211475503255327717finance39626801793110-84352199320336Adaptation48053finance477296894240127321141598654546TotalTable21.Climateco-financeflowsbyMDBandbysourceinlow-andmiddle-incomeeconomies,2022(in$million)AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotalAdjustmentclimateformultipleco-MDBfinancefinancingPublicdirect212280--49145--663970367036mobilisationPublicco-financeOtherMDBs13079341985-17361260484181-87587628762476260-100729-20024902061IDFC42115317-15139304-2808-10773385members61751087234348237410452Other271091international,865publicOtherdomestic,539320-103235212461publicTotalprivatemobilisationPrivatedirect-187--257581321--26544477447745012456mobilisation387948053Private854325-231650801639-1082418915935indirectmobilisationTotal3988837223447729689424012732114159865454619Inthecontextofthisreport,non-commercialriskguaranteesaredefinedasinsuranceorguaranteeinstrumentscoveringinvestorsagainstperceivedpoliticalrisksincluding,butnotlimitedto,therisksoftransferrestriction(includinginconvertibility),expropriation,warandcivildisturbance,breachofcontract,andfailuretohonourfinancialobligations,andmayprovidecreditenhancementandimproveratingsforcapitalmarkettransactions.Commercialorcredit-riskguaranteesrefertoinstrumentscoveringallotherrisksnotincludedabove.Mdbclimatefinanceinlow-andmiddle-incomeeconomies,202219202022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCE3MDBCLIMATEFINANCEINHIGH-INCOMEECONOMIES,20223.1MDBCLIMATEFINANCEINHIGH-INCOMEECONOMIESIn2022,themultilateraldevelopmentbankscommitted$38.8billiontohigh-incomeeconomies.Mitigationfinancecommittedtohigh-incomeeconomiestotalled$36.3billion,whileadaptationfinancetotalled$2.5billion.Table22showsMDBs’climatefinanceforhigh-incomeeconomies.Outofthe$38.8billionofclimatefinancecommittedtohigh-incomeeconomies,$38.7billionwasfromthemultilateraldevelopmentbanks’ownaccountsand$0.1billionfromexternalresourcesthatwerechannelledthroughthem.Table22.MDBclimatefinanceinhigh-incomeeconomies,2022(in$million)OwnaccountAfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotal-28061824553286912780-136538667MDB-managed-1--144410--53123externalresourcesMDBclimate-38061824693291312880-141938789financeNotes:1.Numbersinthetablesandfiguresinthisreportmaynotadduptothetotalsshown,duetorounding.2.“MDBclimatefinance”referstothesumoftheclimatefinancefromtheMDBs’ownaccountsandtheMDB-managedexternalresources.3.ForIsDB,thereportedcommitmentexcludesoperationsofIsDBGroupmembersincludingtheIslamicCorporationfortheDevelopmentofthePrivateSector(ICD),theInternationalIslamicTradeFinanceCorporation(ITFC)andtheIslamicCorporationfortheInsuranceofInvestmentandExportCredit(ICIEC).Table23showsthemultilateraldevelopmentbanks´climatefinanceinhigh-incomeeconomiesforadaptationandmitigation.Table23.MDBclimatefinancebyscopeinhigh-incomeeconomies,2022(in$million)MDBAdaptationfinanceMitigationfinanceMDBclimatefinanceAfDB---ADB123AIIB324880CEB11608618EBRD724622469EIB15623135132913IDBG7155731288IsDB000NDB---WBG18812311419Total25153627438789Notes:1.Incertaincases,MDBsfinanceactivitiesthathavesimultaneousbenefitsformitigationandadaptation.The2022figureof$405millionofclimatefinanceinhigh-incomeeconomieswithdualbenefitsispresentedunderthesubheadingofmitigationoradaptationfinance(basedonthemostrelevantelementsoftheproject)tosimplifyreporting(SeeAnnexC.4).Forhigh-incomeeconomies,theEBRDreported$7million,theIDBGreported$398million,andtheIsDBreported$0.1millionasdual-benefitprojects.NotethattheIDBGandtheIsDBsplitdual-benefitfinanceequallybetweenadaptationandmitigationcategories,whiletheEBRDallocatesalldual-benefitactivitiestoadaptationfinance.SeeAnnexC.4forfurtherdetails.Mdbclimatefinanceinhigh-incomeeconomies,2022213.1.1MDBCLIMATEFINANCEBYTYPEOFRECIPIENTORBORROWERINHIGH-INCOMEECONOMIESThemultilateraldevelopmentbanksreportonthenatureoffirstrecipientsorborrowers20oftheirclimatefinance(thosetowhichfinancewillflowdirectlyfromtheMDBs),differentiatingbetweenpublicandprivaterecipientsorborrowers.Totalcommitmentvariessignificantlybetweenbanks’ownaccountsandMDB-managedexternalresources,asTable24illustrates.Table25showsthesplitbytypeofrecipientorborrowerforthebanks’ownaccountsandforMDB-managedexternalresources.Table24.MDBclimatefinancebysourceoffundsandbytypeofrecipientorborrowerinhigh-incomeeconomies,2022(in$million)TypeofrecipientorborrowerMDBownaccountMDB-managedexternalresourcesPublicrecipient/borrower1993571Privaterecipient/borrower1873152Total38667123Table25.MDBclimatefinancebytypeofrecipientorborrowerinhigh-incomeeconomies,2022(in$million)MDBPrivatePublicAfDB--ADB12AIIB80-CEB-618EBRD106EIB2363IDBG1560517307IsDB1231NDB570WBG--Total-741678187832000620SeeAnnexC.1forthedefinitionsofpublicandprivaterecipientsorborrowers.222022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCE3.1.2MDBCLIMATEFINANCEBYTYPEOFINSTRUMENTINHIGH-INCOMEECONOMIES.Themultilateraldevelopmentbanksreportedthat80%ofhigh-incomeeconomies’climatefinancewascommittedthroughinvestmentloans,followedbylinesofcredit,whichrepresent11%.IllustrativeexamplesofvarioustypeofinstrumentarepresentedinTablesfromAnnexC.5.Table26.MDBclimatefinancebytypeofinstrumentinhigh-incomeeconomies,2022(in$million)InstrumenttypeClimatefinanceEquity597Grant6Guarantee972Investmentloan30973Lineofcredit4136Policy-basedfinancing816Results-basedfinancing232Otherinstruments1056Total38789Notes:1.AnnexC.5definesthevarioustypesofinstrument.2.Otherinstrumentsincludeadvisoryservicesandbonds.SomeMDBsreporteligiblebondsunderthecategoryofinvestmentloans.Figure11.MDBclimatefinancebytypeofinstrumentinhigh-incomeeconomies,2022(in$million)1%3%1%0.09%TOTALCLIMATEFINANCEBYTYPEOFINSTRUMENT2%2%$38789million11%Equity$597millionGrant$6millionTOTALGuarantee$972million$38789millionInvestmentloan$30973millionLineofcredit$4136millionPolicy-basedfinancing$816millionResults-basedfinancing$232millionOtherinstruments$1056million80%Mdbclimatefinanceinhigh-incomeeconomies,2022233.1.3MDBCLIMATEFINANCEBYREGIONINHIGH-INCOMEECONOMIESTable27showstotalclimatefinancebyregion.ThelargestproportionsofclimatefinancewereintheEuropeanUnion(92%).Table27.MDBclimatefinancebyregioninhigh-incomeeconomies2022(in$million)RegionClimatefinanceCentralAsia-EastAsiaandthePacific180Europe:EuropeanUnionEurope:Non-EuropeanUnion35871LatinAmericaandtheCaribbean-MiddleEastandNorthAfricaSouthAsia1715Sub-SaharanAfrica237Multi-regional-11Total77538789Figure12.MDBclimatefinancebyregion,inhigh-incomeeconomies2022(in$million)0.03%2%0.5%TOTALCLIMATEFINANCEBYREGION0.6%$38789million4%TOTALEastAsiaandthePacific$180million$38789millionEurope:EU$35871millionLatinAmericaandtheCaribbean$1715millionMiddleEastandNorthAfrica$237millionSub-SaharanAfrica$11millionMulti-regional$775million92%3.2MDBADAPTATIONFINANCEINHIGH-INCOMEECONOMIES,2022Ofthe$25.2billioncommittedforadaptationfinance,$2.5billion,or10%,wascommittedtohigh-incomeeconomies.Table28presentsthe2022adaptationfiguresforthemultilateraldevelopmentbanksinhigh-incomeeconomies,withabreakdownofclimateadaptationfinancecommittedbytheMDBsfromtheirownaccountsandfromMDB-managedexternalresources.Table28.MDBadaptationfinancebyMDBaccordingtosourceoffundsinhigh-incomeeconomies,2022(in$million)AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotal-1320-1502473MDBown1171562711account3742-1----5--1882515MDB-managedexternal0132117156271500resourcesTotalTable29showsabreakdownbytypeofrecipientorborrower.242022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETable29.MDBadaptationfinancebyMDBandbytypeofrecipientorborrowerinhigh-incomeeconomies,2022(in$million)MDBPrivatePublicAfDB--ADB01AIIB32-CEB-11EBRD53EIBIDBG1351426IsDB17698NDB-0WBG--0188Total1882327Table30breaksdownMDBadaptationfinancebythetypeofinstrument.Themultilateraldevelopmentbanksreportedthat70%ofadaptationfinanceinhigh-incomeeconomieswascommittedthroughinvestmentloans.Table30.MDBadaptationfinancebyMDBandbytypeofinstrumentinhigh-incomeeconomies,2022(in$million)InstrumenttypeAdaptationfinanceEquity12Grant3GuaranteeInvestmentloan160Lineofcredit1763Policy-basedfinancingResults-basedfinancing326Otherinstruments208Total-432515Figure13.MDBadaptationfinancebytypeofinstrumentinhigh-incomeeconomies,2022(in$million)2%0.5%0.1%8%6%TOTALADAPTATIONFINANCEBYTYPEOFINSTRUMENT$2515million13%Equity$12millionTOTALGrant$3million$2515millionGuarantee$160millionInvestmentloan$1763millionLineofcredit$326millionPolicy-basedfinancing$208millionOtherinstruments$43million70%Table31showstotaladaptationfinanceinhigh-incomeeconomiesbyregion.ThelargestproportionsofadaptationfinancewereintheEuropeanUnion(62%)andLatinAmericaandtheCaribbean(35%).Mdbclimatefinanceinhigh-incomeeconomies,202225Table31.MDBadaptationfinancebyregioninhigh-incomeeconomies,2022(in$million)RegionAdaptationfinanceCentralAsia-EastAsiaandthePacific33Europe:EuropeanUnionEurope:Non-EuropeanUnion1567LatinAmericaandtheCaribbean-MiddleEastandNorthAfrica876SouthAsia21Sub-SaharanAfrica-Multi-regional11Total82515Figure14.MDBadaptationfinancebyregioninhigh-incomeeconomies,2022(in$million)0.5%0.3%1%1%TOTALADAPTATIONFINANCEINBYREGION$2515million35%EastAsiaandthePacific$33millionEurope:EU$1567millionTOTALLatinAmericaandtheCaribbean$876million$2515millionMiddleEastandNorthAfrica$21millionSub-SaharanAfrica$11millionMulti-regional$8million62%Table32reportsMDBadaptationfinanceinhigh-incomeeconomiesbysector,withashareof29%inenergy,transport,andotherbuiltenvironmentandinfrastructure,and28%inwaterandwastewatersystems.Table32.MDBadaptationfinancebysectorinhigh-incomeeconomies,2022(in$million)SectorgroupAdaptationfinanceCoastalandriverineinfrastructure42CropandfoodproductionCross-cuttingsectors103Energy,transport,andotherbuiltenvironmentandinfrastructure458Financialservices719Industry,manufacturingandtrade148Informationandcommunicationstechnology-Institutionalcapacitysupportortechnicalassistance36Otheragriculturalandecologicalresources185Waterandwastewatersystems127Total6962515262022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEFigure15.MDBadaptationfinancebysectorinhigh-incomeeconomies,2022(in$million)2%4%TOTALADAPTATIONFINANCEBYSECTOR$2515million28%18%Coastalandriverineinfrastructure$42million5%TOTALCropandfoodproduction$103million7%$2515millionCross-cuttingsectors$458million1%Energy,transportandotherbuilt28%environmentandinfrastructure$719million6%Financialservices$148millionInformationandcommunicationstechnology$36millionInstitutionalcapacitysupportortechnicalassistance$185millionOtheragriculturalandecologicalresources$127millionWaterandwastewatersystems$696millionAdaptationfinancebyregion,forhigh-incomeeconomies,withafurtherbreakdownbysector,ispresentedinTable33.Table33.MDBadaptationfinancebysectorandbyregioninhigh-incomeeconomies,2022(in$million)CentralEastAsiaEurope:Europe:LatinMiddleSouthSub-Multi-TotalAsiaandtheEuropeanNon-AmericaEastandAsiaSaharanregionalPacificUnionEuropeanandtheNorth42UnionCaribbeanAfrica-Africa103-458Coastal--14-28----719andriverine148infrastructure--95-8---0-Cropandfood-3215-410---136production--0692-25---1185Cross-cuttingsectors--48-7521--4127Energy,---------transport,andotherbuilt--0-29-70environmentand--67-117--2infrastructure--8-115-40FinancialservicesIndustry,manufacturingandtradeInformationandcom-municationstechnologyInstitutionalcapacitysupportortechnicalassistanceOtheragriculturalandecologicalresourcesMdbclimatefinanceinhigh-incomeeconomies,202227CentralEastAsiaEurope:Europe:LatinMiddleSouthSub-Multi-TotalAsiaandtheEuropeanNon-AmericaEastandAsiaSaharanregionalPacificUnionEuropeanandtheNorthUnionCaribbeanAfricaAfricaWaterand--628-69---0696wastewatersystems033156708762101182515Total3.3MDBMITIGATIONFINANCEINHIGH-INCOMEECONOMIES,2022In2022,themultilateraldevelopmentbanksreportedatotalof$74.2billioninfinancialcommitmentstothemitigationofclimatechange,with$36.3billion,or49%,committedtohigh-incomeeconomies.Table34providesabreakdownofclimatechangemitigationfinancecommittedbythemultilateraldevelopmentbanksfromMDBown-accountandexternalresourcesinhigh-incomeeconomies.Table34.MDBmitigationfinancebyMDB,accordingtosourceoffundsinhigh-incomeeconomies,2022(in$million)MDBownAfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotalaccount-1486082447313085670-121536194MDB-managed-1--14445--1680external00123136274resources0248608246231351573TotalTable35showsabreakdownbytypeofrecipientorborrower.Table35.MDBmitigationfinancebyMDBandbytypeofrecipientorborrowerinhigh-incomeeconomies,2022(in$million)MDBPrivatePublicAfDB--ADB11AIIB48-CEB-608EBRD103EIB2359IDBG1547015881IsDB533NDB400WBG---553Total6781859517680Table36breaksdownMDBmitigationfinancebytypeofinstrument.Themultilateraldevelopmentbanksreportedthat90%oftotalmitigationfinancewascommittedthroughinvestmentloansinhigh-incomeeconomies.282022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETable36.MDBmitigationfinancebyMDBandbytypeofinstrumentinhigh-incomeeconomies,2022(in$million)InstrumenttypeMitigationfinanceEquity585Grant3Guarantee812InvestmentloanLineofcredit29210Policy-basedfinancing3810Results-basedfinancing608Otherinstruments232Total101336274Figure16.MDBmitigationfinancebyMDBandbytypeofinstrumentinhigh-incomeeconomies,2022(in$million)0.6%3%1%0.01%2%TOTALMITIGATIONFINANCEBYTYPEOFINSTRUMENT2%$36274million10%Equity$585millionTOTALGrant$3million$36274millionGuarantee$812millionInvestmentloan$29210millionLineofcredit$3810millionPolicy-basedfinancing$608millionResults-basedfinancing$232millionOtherinstruments$1013million80%Table37showstotalmitigationfinancebyregion.Thelargestproportionsofmitigationfinanceforhigh-incomeeconomieswerefortheEuropeanUnion.Table37.MDBmitigationfinancebyMDBandbyregioninhigh-incomeeconomies,2022(in$million)RegionMitigationfinanceCentralAsia-EastAsiaandthePacific148Europe:EuropeanUnionEurope:Non-EuropeanUnion34303LatinAmericaandtheCaribbean-MiddleEastandNorthAfrica840SouthAsia216Sub-SaharanAfrica-Multi-regional-Total76736274Mdbclimatefinanceinhigh-incomeeconomies,202229Figure17.MDBmitigationfinancebyregioninhigh-incomeeconomies,2022(in$million)2%0.6%2%0.4%TOTALMITIGATIONFINANCEBYREGION$36274millionTOTALEastAsiaandthePacific$148million$36274millionEurope:EU$34303millionLatinAmericaandtheCaribbean$840millionMiddleEastandNorthAfrica$216millionMulti-regional$767million95%Table38reportsMDBs’mitigationfinancebysectorinhigh-incomeeconomies,with40%inenergy,followedby25%intransport.Table38.MDBmitigationfinancebysectorinhigh-incomeeconomies,2022(in$million)RegionMitigationfinanceEnergy14405Miningandmetalproductionforclimateaction-Manufacturing424Agriculture,forestry,landuseandfisheries48Watersupplyandwastewater485Solidwastemanagement236Transport9200Buildings,publicinstallationsandend-useenergyefficiency2088Informationandcommunicationstechnology(ICT)anddigitaltechnologies77Research,DevelopmentandInnovation2936Cross-sectoralactivities6376Total36274302022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEFigure18.MDBmitigationfinancebysectorinhigh-incomeeconomies,2022(in$million)17%TOTALMITIGATIONFINANCEBYSECTOR$36274million8%TOTAL40%0.2%Energy$14405million$36274millionManufacturing$424million6%Agriculture,forestry,landuseandfisheries$48millionWatersupplyandwastewater$485million0.13%Solidwastemanagement$236million25%Transport$9200millionBuildings,publicinstallationsand1%end-useenergyefficiency$2088million0.6%1%Informationandcommunicationstechnology(ICT)anddigitaltechnologies$77millionResearch,DevelopmentandInnovation$2936millionCross-sectoralactivities$6376millionMitigationfinancebyregion,forhigh-incomeeconomies,andwithfurtherbreakdownbysectors,ispresentedinTable39.Table39.MDBmitigationfinancebysectorandbyregioninhigh-incomeeconomies,2022(in$million)CentralEastAsiaEurope:Europe:LatinMiddleSouthSub-Multi-TotalAsiaandtheEuropeanNon-AmericaEastandAsiaSaharanregionalPacificUnionEuropeanandtheNorth14405--Africa242-UnionCaribbeanAfrica424-48Energy11213416-492142485236Mining---------andmetal9200productionfor--269-----1552088climateaction--42-5---2Manufacturing--485-0---0Agriculture,forestry,--223-0---12landuseandfisheries-09059-121--118Water-01884-30---174supplyandwastewaterSolidwastemanagementTransportBuildings,publicinstallationsandend-useenergyefficiencyMdbclimatefinanceinhigh-incomeeconomies,202231Informationandcommuni-cationstech---59-10---877nology(ICT)anddigitaltechnologiesResearch,development-02932-2---12936andinnovation55637676736274Cross-sectoral-355933-29953--activitiesTotal-14834303-840216--3.4CLIMATECO-FINANCEINHIGH-INCOMEECONOMIES,2022Themultilateraldevelopmentbanks'climateco-financeisbasedontheMDBs’harmoniseddefinitionswhichcanbeconsultedinSection1.3.Table40showsclimateco-financeflowsbyadaptationandmitigationforhigh-incomecountries.Inordertoavoiddoublecounting,thelastcolumnofTables40and41netsoutpotentiallydouble-countedco-financingbyconsideringonlytheproportionofco-financingforeveryprojectthatfeaturesco-financingfromanothermultilateraldevelopmentbank.ThesefiguresarealsolistedinTable64,inAnnexA.1,alongsideeachbank’sownclimatefinanceflows.Table40.Climateco-financeflowsbyMDBandbythematicfocusinhigh-incomeeconomies,2022(in$million)AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotalAdjustment-1491354climateformultiple--28357-142921411co-MDBfinancefinancingMitigation699447608455--54446187861580finance7089165213--91043310434Adaptation770256772668-72014finance-545372311Total322022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETable41.Climateco-financeflowsbyMDBandbysourceinhigh-incomeeconomies,2022(in$million)AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotalAdjustmentclimateformultipleco-MDBfinancefinancingPublicdirect--5--4510--317136263626mobilisationPublicco-financeOtherMDBs----226----6231231IDFC-----334----334334membersOther-5--78452--1778687868international-publicOtherdomestic-2-14111664210---80668066publicTotalprivatemobilisationPrivatedirect----1427303490--93388688868mobilisationPrivateindirect-12283-733334199166--13264331843021-54537231172014mobilisationTotal-142921411770256772668-Mdbclimatefinanceinhigh-incomeeconomies,202233342022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEANNEXAFURTHERDETAILEDANALYSISOFMDBCLIMATEFINANCEDATAThe2022MDBclimatefinancecommitmentsarepresentedinthisyear’sreportintwoseparatechapters:ChapterII)low-incomeandmiddle-incomeeconomies,agroupingthatincludeslow,lower-middleandupper-middleincomeeconomies,andChapterIII)high-incomeeconomies.Moredetailedanalysis,datathatcannoteasilybesplitbyincomelevelsuchasClimateFinanceforSmallIslandDevelopingStatesandglobalaggregatedMDBdata,areprovidedinthisAnnex.DatainthisAnnexprovidefordatacomparabilityofthisyear’sreportwithpreviousyears’reports.Figure19outlinesMDBclimatefinancecommitmentsbyincomegroup,showinglow-andmiddle-incomeeconomiesseparatelyfromhigh-incomeeconomies.Fordataonclimatefinanceinallcountriesofoperationincludingforearlierreportingperiodsbackto2015,refertoAnnexB.Figure19.MDBclimatefinancebyincomelevelsofborrowingorrecipienteconomies,2019-2022(in$billion)403827302830202321$billion201920121871463361042022630201920202021Low-incomeLower-middleincomeUpper-middleincomeHigh-incomeMulti-regionalFigure20.TotalMDBclimatefinancecommitmentsinalleconomieswherethemultilateraldevelopmentbanksoperate,2022(in$million)1003801419316661288WBG752469%61832913503651710723115678105068446642892529504165AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBLow-incomeandmiddle-incomeeconomiesHigh-incomeeconomiesANNEXA:FURTHERDETAILEDANALYSISOFMDBCLIMATEFINANCEDATA35Table42presentsdataonMDBclimatefinancebytypeofrecipientorborrower21.In2022,MDBsreported$68.7billionoftheirclimatefinanceasbeingforpublicentitiesand$30.8billionforprivateentities.Thedataalsoshowatotalof$120.1billioncomingfromclimateco-finance,with74%inmitigationprojects,and43%climateco-financefrompublicsources.Table42.TotalMDBclimatefinanceandnetclimateco-financebyeconomyincomegroupandbytypeofrecipientorborrower,2022(in$million)MDBCLIMATEFINANCEMitigationForlow-andmiddle-incomeeconomiesForhigh-incomeeconomiesAdaptation3794636274227182515PublicPrivate48637200061202718783CLIMATECO-FINANCEMitigationForlow-andmiddle-incomeeconomiesForhigh-incomeeconomiesAdaptation27717615802033610433Public3111920125Private16933518891.Publicandprivatesectoroperations:ThisdeterminationisbasedonthestatusofthefirstrecipientorborrowerofMDBfinance.Thefirstrecipientorborrowerisconsideredtobepublicwhenatleast50%ofthestakesorsharesoftherecipientorborrowerarepubliclyowned..2.()Seefootnote1forFigures1aand1b.ClimatefinancefromAIIBfinancingforoneproject,amountingto$14million($7millionformitigationand$7millionforadaptation)andreportedunderERUM,isexcludedfromtheMDBtotalamountstoavoiddoublecounting.SubtractingthisamountfromADB’stotalclimatefinanceforlow-andmiddle-incomeeconomiesyieldsto$37946millionformitigationinlow-andmiddle-incomeeconomies($74227millionfortotalmitigationfinance),and$22718millionforadaptationinlow-andmiddle-incomeeconomies($25233millionfortotaladaptationfinance).Table43showstotalMDBclimatefinanceforalleconomieswheretheyoperate.Ofthe$99.5billion,$96.3billioncamefromtheMDBs’ownaccountsand$3.1billionfromexternalresourcesthatwerechannelledthroughtheinstitutions.Table43.TotalMDBclimatefinance,2022(in$million)AFDBADBAIIBCEBEBRDEIBIDBGISDBNDBWBGTOTALMDBSForlow-andmiddle-incomeeconomiesOwnaccount31516721231129539494097530410504663033457679MDB-managed500385--34067373--13332985externalresourcesForhigh-incomeeconomiesOwnaccount-2806182455280556590-136538667MDB-managedexternal-1-.147979--53123resources21SeeAnnexC.1forthedefinitionsofpublicandprivaterecipientsorborrowers.362022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEAFDBADBAIIBCEBEBRDEIBIDBGISDBNDBWBGTOTALMDBSClimatefinancefromMDBownaccount,asapercentageof43%38%35%20%47%59%33%33%28%36%43%MDBoperationsfromMDBownaccountMDBclimate45%39%35%20%43%57%34%33%28%37%43%financeasapercentageoftotalMDBoperationsNotes:1.Numbersinthetablesandfiguresinthisreportmaynotadduptothetotalsshown,duetorounding.2.“MDBclimatefinance”referstothesumoftheclimatefinancefromtheMDBs’ownaccountsandtheMDB-managedexternalresources.3.“TotalMDBoperations”referstothesumoftheMDBs’ownaccountsandMDB-managedexternalresources.4.ForIsDB,thereportedcommitmentexcludesoperationsofIsDBGroupmembersincludingtheIslamicCorporationfortheDevelopmentofthePrivateSector(ICD),theInternationalIslamicTradeFinanceCorporation(ITFC)andtheIslamicCorporationfortheInsuranceofInvestmentandExportCredit(ICIEC).5.()ConsideringtheexplanationprovidedinFigures1aand1baboutADBexternalresources,climatefinancefromAIIBfinancingforoneproject,amountingto$14million,reportedunderERUMisexcludedfromtheMDBtotalamountstoavoiddoublecounting.SubtractingthisamountfromADB’stotalclimatefinanceyieldsto$7096million.6.AIIB’s2022climatefinancesharewascalculatedincludingprojectsfinancedthroughthebank’sCOVID-19CrisisRecoveryFacility(CRF).ANNEXA.1.TOTALMDBCLIMATEFINANCE.ThisAnnexpresentsaggregateinformationonclimatefinanceinlow-andmiddle-incomeeconomiesandhigh-incomeeconomies.Table44showsMDBs’adaptationandmitigationfinanceforalleconomieswheretheyoperate.Table44.TotalMDBclimatefinancebyincomelevelgroupandtypeofclimatefinance,2022(in$million)FORLOW-ANDMIDDLE-INCOMEECONOMIESMDBAdaptationfinanceMitigationfinanceMDBclimatefinanceAfDB227613753651ADB282942277107AIIB42318892311CEB21184295EBRD30039894289EIB43137344165IDBG204536335678IsDB5714791050NDB0466466WBGTotal136401802731666227183794660664MDBAfDBAdaptationfinanceFORHIGH-INCOMEECONOMIESADB-AIIB1MitigationfinanceMDBclimatefinanceCEB32--11234880608618ANNEXA:FURTHERDETAILEDANALYSISOFMDBCLIMATEFINANCEDATA37EBRD7246224693135132913EIB15625731288IDBG71500IsDB0--12311419NDB-3627438789WBG188Total2515()Seefootnote1forFigures1aand1b.Themultilateraldevelopmentbanksreportonthenatureoffirstrecipientsorborrowers22oftheirclimatefinance(thosetowhomfinancewillflowdirectlyfromtheMDBs),differentiatingbetweenpublicandprivaterecipientsorborrowers.Totalcommitmentvariessignificantlybetweenthebanks’ownaccountsandMDB-managedexternalresources,asTable45illustrates.Table46showsthesplitbytypeofrecipientorborrowerfortheMDBs’ownaccountsandforMDB-managedexternalresources.Table45.TotalMDBclimatefinancebysourceoffunds,bytypeofrecipientorborrowerandbyincomelevelgroup,2022(in$million)FORLOW-ANDMIDDLE-INCOMEECONOMIESTypeofrecipientorborrowerMDBownaccountMDB-managedexternalresourcesPublicrecipientorborrower461462491Privaterecipientorborrower11532495Total576792985TypeofrecipientorborrowerFORHIGH-INCOMEECONOMIESPublicrecipientorborrowerPrivaterecipientorborrowerMDBownaccountMDB-managedexternalresourcesTotal1993571()Seefootnote1forFigures1aand1b.187315238667123Table46.TotalMDBclimatefinancebytypeofrecipientorborrowerandbyincomelevelgroup,2022(in$million)FORLOW-ANDFORHIGH-INCOMEECONOMIESMIDDLE-INCOMEECONOMIESMDBPrivatePublicPrivatePublic2874--AfDB777656012166480-ADB547-618295AIIB6481581236310627241560517307CEB-46641050571231EBRD2707-0466-EIB144026773678741486371878320006IDBG1014IsDB-NDB-WBG4894Total12027()Seefootnote1forFigures1aand1b.22SeeAnnexC.1forthedefinitionsofpublicandprivaterecipientsorborrowers.382022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEThemultilateraldevelopmentbanksreportedthat68%oftotalclimatefinancewascommittedthroughinvestmentloans.IllustrativeexamplesofvarioustypesofinstrumentarepresentedintablesfromAnnexC.5.Table47.TotalMDBclimatefinancebytypeofinstrumentandbyincomelevelgroup,2022(in$million)InstrumenttypeForlow-andmiddle-incomeeconomiesForhigh-incomeeconomiesEquity1008597Grant60786Guarantee1766972Investmentloan3685430973Lineofcredit28394136Policy-basedfinancing8427816Results-basedfinancing2105232Otherinstruments15861056Total6066438789Notes:1.AnnexC.5definesthevarioustypesofinstrument.2.Otherinstrumentsincludeadvisoryservicesandbonds.SomeMDBsreporteligiblebondsunderthecategoryofinvestmentloans.3.()Seefootnote1forFigures1aand1b.Table48showsMDBclimatefinancecommitmentsbyregion23.Table48.TotalMDBclimatefinancebyregionandbyincomelevelgroup,2022(in$million)RegionForlow-andmiddle-incomeForhigh-incomeeconomieseconomiesCentralAsia2628-EastAsiaandthePacific9846180Europe:EuropeanUnion33035871Europe:Non-EuropeanUnion4826-LatinAmericaandtheCaribbean126701715MiddleEastandNorthAfrica4715237SouthAsia7471-Sub-SaharanAfrica16334Multi-regional184311Total60664775()Seefootnote1forFigures1aand1b.38789ANNEXA.2.TOTALMDBADAPTATIONFINANCE.Ofthe$99.5billioninvestedinclimatefinance,atotalof$25.2billionwascommittedforclimatechangeadaptationfinance.Table49presentsthe2022adaptationfiguresforthemultilateraldevelopmentbanksforalltheeconomies,withabreakdownofclimatechangeadaptationfinancecommittedbytheMDBsfromtheirownaccountsandfromMDB-managedexternalresourcesbyincomeeconomies.Table50presentstheadaptationfinancefiguresbytypeofrecipientorborrower.23SeeTablesB.1andB.2forregionalgroupings.ANNEXA:FURTHERDETAILEDANALYSISOFMDBCLIMATEFINANCEDATA39Table49.TotalMDBadaptationfinanceinalltheeconomiesbyMDBaccordingtosourceoffunds,2022(in$million)FORLOW-ANDFORHIGH-INCOMEECONOMIESTOTALMIDDLE-INCOMEECONOMIESMDBMDBownMDB-MDBownMDB-MDBownMDB-accountmanagedaccountmanagedaccountmanagedexternalexternalexternalresources-resources1993resources12727AfDB1993282-282321454104ADB2726103112217-259-AIIB423-156251985571102707CEB211-571480--7EBRD25248-51302815002394553EIB42472473---IDBG199648377991287IsDB571-42NDB--WBG12878762Total214731245()Seefootnote1forFigures1aand1b.Table50.TotalMDBadaptationfinancebyMDBandbytypeofrecipientorborrower,2022(in$million)MDBPrivatePublicAfDB2612015ADB892742AIIB36CEB-418EBRD149221EIB347158IDBG1351646IsDB-2625NDB-571WBG128-Total13700()Seefootnote1forFigures1aand1b.114524088Table51breaksdowntotalMDBadaptationfinancebythetypeofinstrument.Themultilateraldevelopmentbanksreportedthat65%ofadaptationfinanceforalleconomieswascommittedthroughinvestmentloans,followedbygrantsandpolicy-basedfinancing.Table51.TotalMDBadaptationfinancebytypeofinstrument,2022(in$million)InstrumenttypeTotalEquity19GrantGuarantee3542Investmentloan449LineofcreditPolicy-basedfinancing15854Results-basedfinancing10943240804402022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEOtherinstruments230Total25233()Seefootnote1forFigures1aand1b.Table52showstotaladaptationfinanceforalltheeconomiesbyregion.Thelargestproportionsofadaptationfinancewerereportedinthefollowingregions:Sub-SaharanAfrica,LatinAmericaandtheCaribbean,andSouthAsia.Table52.TotalMDBadaptationfinancebyregion,2022(in$million)Total812RegionCentralAsia2751EastAsiaandthePacific1570Europe:EuropeanUnion1049Europe:Non-EuropeanUnion4510LatinAmericaandtheCaribbean1826MiddleEastandNorthAfrica3884SouthAsia8669Sub-SaharanAfricaMulti-regional162Total25233()Seefootnote1forFigures1aand1b.Table53reportstotalMDBadaptationfinancebysector,with30%inenergy,transport,andotherbuiltenvironmentandinfrastructure,followedby17%incross-cuttingoperations,and16%inwaterandwastewatersystems.Table53.TotalMDBadaptationfinancebysector,2022(in$million)SectorgroupTotalCoastalandriverineinfrastructure348CropandfoodproductionCross-cuttingsectors2997Energy,transport,andotherbuiltenvironmentandinfrastructure4297Financialservices7566Industry,manufacturingandtrade1723InformationandcommunicationstechnologyInstitutionalcapacitysupportortechnicalassistance29Otheragriculturalandecologicalresources175Waterandwastewatersystems2391Total1667()Seefootnote1forFigures1aand1b.404025233Adaptationfinancebyregion,foralltheeconomies,withafurtherbreakdownbysector,ispresentedinTable54.ANNEXA:FURTHERDETAILEDANALYSISOFMDBCLIMATEFINANCEDATA41Table54.TotalMDBadaptationfinancebysectorandbyregion,2022(in$million)CentralEastAsiaEurope:Europe:LatinMiddleSouthSub-Multi-TotalAsiaandtheEuropeanNon-AmericaEastandAsiaSaharanregionalPacificUnionEuropeanandtheNorth348UnionCaribbeanAfrica54Africa5299728874974297Coastal15414-13016748137566andriverine15341723infrastructure230110772829Cropandfood1194695891076228922657175production7-815-2391Cross-cutting781090156799921126-sectors51667128664040Energy,156751695517721134325233transport,and327434otherbuilt212162environment3884619andinfrastructure14788669Financial3131480357273servicesIndustry,0--129-manufacturingandtradeInformation3903832-andcom-municationstechnologyInstitutional115267225107189capacitysupportortechnicalassistanceOther20938882334342agriculturalandecologicalresourcesWaterand23223062877741439wastewatersystems81227511570104945101826()Seefootnote1forFigures1aand1b.ANNEXA.3.TOTALMDBMITIGATIONFINANCE.Table55providesabreakdownofclimatechangemitigationfinancecommittedbythemultilateraldevelopmentbanksfromMDBown-accountandexternalresourcesforalleconomieswhereMDBsoperate.422022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETable55.TotalMDBmitigationfinancebyMDB,andbyincomelevelgroupandbysourceoffunds,2022(in$million)FORLOW-ANDFORHIGH-INCOMEECONOMIESTOTALMIDDLE-INCOMEECONOMIESMDBMDBownMDB-MDBownMDB-MDBownMDB-accountmanagedaccountmanagedaccountmanagedexternalexternalexternalresources-resources1157resources13996AfDB1157217-1937217481283ADB3995282608692-2447-6144-AIIB1889-31308-349813065673875104CEB84-14330044480-EBRD3697292-466-1215518671587EIB36746036194-724001821-IDBG330832516IsDB479-80NDB466-WBG17456570Total362061740()Seefootnote1forFigures1aand1b.Table56showsabreakdownbytypeofrecipientorborrower.Table56.TotalMDBmitigationfinancebyMDBandbytypeofrecipientorborrower,2022(in$million)MDBPrivatePublicAfDB516859ADB459AIIB6913820CEB-1246EBRDEIB4921692IDBG166991529IsDB18386NDB9363270WBG-Total-480()Seefootnote1forFigures1aand1b.5444466296661381444555Table57breaksdownMDBmitigationfinancebytypeofinstrument.Themultilateraldevelopmentbanksreportedthat68%oftotalmitigationfinancewascommittedthroughinvestmentloans,followedbypolicy-basedfinancingandlinesofcredit.Table57.TotalMDBmitigationfinancebytypeofinstrument,2022(in$million)InstrumenttypeTotalEquity1586Grant2542Guarantee2289Investmentloan51974ANNEXA:FURTHERDETAILEDANALYSISOFMDBCLIMATEFINANCEDATA43InstrumenttypeTotalLineofcredit5882Policy-basedfinancing6003Results-basedfinancing1533Otherinstruments2412Total74220()Seefootnote1forFigures1aand1b.Table58showstotalmitigationfinancebyregion.Thelargestproportionsofmitigationfinancewereinthefollowingregions:Europe:EuropeanUnion,LatinAmericaandtheCaribbean,Sub-SaharanAfrica,andEastAsiaandthePacific.Table58.TotalMDBmitigationfinancebyregion,2022(in$million)RegionTotalCentralAsia1816EastAsiaandthePacific7276Europe:EuropeanUnion34631Europe:Non-EuropeanUnion3777LatinAmericaandtheCaribbean9875MiddleEastandNorthAfrica3127SouthAsia3587Sub-SaharanAfrica7675Multi-regional2456Total74220()Seefootnote1forFigures1aand1b.Table59reportsMDBs’mitigationfinanceforalltheeconomiesbysectorwith35%goingtotheenergysector,followedbytransportwith24%.Table59.TotalMDBmitigationfinancebysector,2022(in$million)Total26140RegionEnergy-Miningandmetalproductionforclimateaction2368Manufacturing2341Agriculture,forestry,landuseandfisheries1903WatersupplyandwastewaterSolidwastemanagement808Transport17850Buildings,publicinstallationsandend-useenergyefficiencyInformationandcommunicationstechnology(ICT)anddigitaltechnologies5022Research,developmentandinnovation316Cross-sectoralactivitiesTotal3057()Seefootnote1forFigures1aand1b.1441874220442022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEMitigationfinancebyregion,foralltheeconomies,withfurtherbreakdownbysector,ispresentedinTable60.Table60.TotalMDBmitigationfinancebysectorandbyregion,2022(in$million)CentralEastAsiaEurope:Europe:LatinMiddleSouthSub-Multi-TotalAsiaandtheEuropeanNon-AmericaEastandAsiaSaharanregionalPacificUnionEuropeanandtheNorth1272UnionCaribbeanAfricaAfrica-Energy8881519134291200255290115324311362614066Mining175andmetal------1---productionfor1123climateaction332Manufacturing74260269617431244391543032368Agriculture,2286734260446908681562341forestry,557landuseand3587fisheriesWater332614853251411528701903supplyandwastewater2436808100616017850Solidwaste782722232912024managementTransport14526429354100413681048Buildings,16327519022406134626044305022publicinstallationsandend-useenergyefficiencyInformationandcom-munications-39591950-6642316technology(ICT)anddigitaltechnologiesResearch,development-32934-53139193057andinnovationCross-sectoral2071331593357437292411571274144187675245674220activitiesTotal1816727634631377798753127()Seefootnote1forFigures1aand1b.ANNEXA.4.CLIMATECO-FINANCEANDCLIMATEFINANCERATIOS.Themultilateraldevelopmentbanks’climateco-financeisbasedontheirharmoniseddefinitionswhichcanbeconsultedinSection1.3.Table61showsclimateco-financeflowsbyadaptationandmitigationforalltheeconomieswheremultilateraldevelopmentbanksoperate.Inordertoavoiddoublecounting,thelastcolumnofTables61and62netsoutpotentiallydouble-countedco-financingbyconsideringonlytheproportionofco-financingforeveryprojectthatfeaturesco-financingfromanothermultilateraldevelopmentbank.Table62shows2022climateco-financeflowsasreportedbyeachinstitution,segmentedbythesourceofco-financing.TheseCCFfiguresarethebestestimateofresourceflowsbasedoninformationavailableatthetimeofboardapprovaland/orcommitmenttoeachproject.Insomecases,twoormoremultilateraldevelopmentbanksjointlyfinanceaproject,whichresultsinsomeoverlapbetweenthegrossco-financefiguresreportedbythedifferentbanks.ThistablereflectsANNEXA:FURTHERDETAILEDANALYSISOFMDBCLIMATEFINANCEDATA45the2022CCFflows,includingthedirectandindirectmobilisationattributedtoguarantees.TheguaranteeexposureofeachMDBhasbeenshownas“ownaccount”inTables2,22,43and63.Table63showsclimateco-financeforlow-andmiddle-incomeeconomies,high-incomeeconomiesandtotals,foreachmultilateraldevelopmentbank.ItalsopresentsclimatefinanceratiosforeachMDB,calculatedwithtotalclimateco-financenumbersfromTable62.Table61.Totalclimateco-financeflowsbyMDBandbythematicfocus,2022(in$million)FORLOW-ANDMIDDLE-INCOMEECONOMIESTotalAdjustmentclimateformultipleco-MDBAfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGfinancefinancingMitigation1406407522311814376701024471163211475503255327717finance2582429716485339626801793110-84352199320336Adaptation39888372387923447729689424012732114159865454648053financeTotalFORHIGH-INCOMEECONOMIESAfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotalCorrection-1491354699447608455--climatefor-co-multiple-financeMDBfinancingMitigation54446187861580finance-283577089165213--91043310433Adaptationfinance142921411770256772668--54537231172014TotalTOTALCLIMATECO-FINANCECorrectionTotalforclimatemultipleco-MDBAfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGfinancefinancingMitigation14064088224015351137154618290211632114129949443089297finance2582429719311091103118442006110-84443242730769Adaptation3988838641711645124746646249081273211421439126857120066financeTotal462022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETable62.Totalclimateco-financeflowsbyMDBandbysourceandbyincomelevelgroup,2022(in$million)ANNEXA:FURTHERDETAILEDANALYSISOFMDBCLIMATEFINANCEDATA47AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGForlow-ForForlow-ForForlow-ForForlow-ForForlow-ForForlow-ForForlow-ForForlow-ForForlow-ForForlow-ForTotalAdjustmentandhigh-andhigh-andhigh-andhigh-andhigh-andhigh-andhigh-andhigh-andhigh-andhigh-climateformultipleincomeincomeincomeincomeincomeincomeincomeincomeincomeincomemiddle-econo-middle-econo-middle-econo-middle-econo-middle-econo-middle-econo-middle-econo-middle-econo-middle-econo-middle-econo-co-MDBincomemiesincomemiesincomemiesincomemiesincomemiesincomemiesincomemiesincomemiesincomemiesincomemiesfinancefinancingecono-econo-econo-econo-econo-econo-econo-econo-econo-econo-miesmiesmiesmiesmiesmiesmiesmiesmiesmiesPublicdirect2-122-805----494511450----663931711066410662mobilisationPublicco-financeOtherMDBs1307-934-1985---17362261260-484-181---875689948994IDFC421-476-260---100-729334304-----200-28242395membersOther865-153-175--15-13978452721091---1077171125310675internationalpublicOther539-617521087-234141134812374664232010--1032-352-2052718518domesticpublicTotalprivatemobilisationPrivatedirect--187-----2571425873031321490----26549331334513346mobilisationPrivate854-32512450283--231673335080341991639166--1082-418913265925455477indirectmobilisationTotal3988838641711645124746646249081273211421439126860120066Note:1.Co-financingfiguresarecurrentasof[4July2023].Fluctuationsareexpectedduetochangesinprojectfinancingbetweenboardapprovals,loansignaturesandexecution.2.Fornon-commercialguarantees,privatedirectmobilisationcorrespondstotheunderlyinginvestmentcoveredbytheguarantee.ForMDBsreportingonownaccountassociatedwithnon-commercialguarantees,anadjustmentmustbemadebytheMDBtoavoiddoublecounting.3.Localcounterpartfinancingisreportedunder“Otherdomesticpublic”.Table63.TotalMDBclimateco-financeandclimatefinanceratios,byMDBandbyincomelevelgroup,2022AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotalClimateco-financeForForForForForForForForForForForForForForForForForForForFor99467low-high-low-high-low-high-low-high-low-high-low-high-low-high-low-high-low-high-low-high-126857ClimatefinancebyandincomeandincomeandincomeandincomeandincomeandincomeandincomeandincomeandincomeandincomeMDBmiddle-econo-middle-econo-middle-econo-middle-econo-middle-econo-middle-econo-middle-econo-middle-econo-middle-econo-middle-econo-(6791)Climateco-financeincomemiesincomemiesincomemiesincomemiesincomemiesincomemiesincomemiesincomemiesincomemiesincomemies219553Correctionforecono-econo-econo-econo-econo-econo-econo-econo-econo-econo-219553multipleMDBmiesmiesmiesmiesmiesmiesmiesmiesmiesmiesfinancingMDBclimate3651-71073231180295618428924694165329135678128810500466-316661419activityfinanceTotalMDBclimate3988-837214387929223414114772770296895677242406681273-2114-159865453activityfinance(678)-(1044)-(802)---(246)(9)(641)-(25)-----(3038)(180)482022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCE6960-144351753883715292029881510161132138968598921956232302580-4461566916960144515760513052558189761028981184823232580AfDBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGTotal33%33%28%Climatefinance34%33%28%ratiosClimatefinancefromMDBownaccount,asa43%38%35%20%47%56%36%43%percentageofMDBoperationsfromMDBownaccountMDBclimatefinanceasa45%39%35%20%43%58%37%43%percentageoftotalMDBoperationsNote:1.AIIB’s2022climatefinancesharewascalculatedincludingprojectsfinancedthroughthebank’sCOVID-19CrisisRecoveryFacility(CRF).2.TotalMDBclimateactivityfinancereferstothesumof“TotalMDBclimatefinance”and“Climateco-finance”.3.()Seefootnote1forFigures1aand1b.ANNEXA.5.MDBCLIMATEFINANCEINLEASTDEVELOPEDCOUNTRIES(LDCS)ANDSMALLISLANDDEVELOPINGSTATES(SIDS),2022AnnexA.5hasbeenaddedforthefirsttimeinthisyear’sreportinresponsetoseveralusers’requestsforfurtherbreakdownanddetailsofLDCandSIDSclimatefinancing.ThelistofcountriesshowninAnnexB.1presentstheclassificationofcountriesandthosethatfallintotheLDCcategory.In2022,themultilateraldevelopmentbankscommitted$11663milliontofinanceclimatechangeinLDCs.MostoftheclimatefinanceprovidedtoLDCsismanagedbyMDBs’ownaccount,withonly11%ofMDB-managedexternalresources.Moreover,atotalof$2214millionwascommittedforclimatechangefinanceforSIDS.Mostofthatamountwasforlow-andmiddle-incomeeconomies.Additionally,atotalof$630millionwascommittedforclimatechangefinanceforcountriesthatbelongtobothcategories,LDCsandSIDS.MDBclimatefinanceallocatedtosmallislandstatesandtoleastdevelopedeconomiesispresentedinTable64.LeastdevelopedeconomiesaredefinedaccordingtotheUNFCCCcriteria24andpresentedbasedontheUNFCCClist25.SmallislandstatesaredefinedaccordingtotheAllianceofSmallIslandStates(AOSIS)list26.Economiesconsideredtobeleastdevelopedeconomiesand/orsmallislandstatesarelistedinAnnexB.Table64.MDBclimatefinanceforleastdevelopedcountriesandsmallislanddevelopingstates,2022(in$million)MitigationAdaptationTotalfinancefinanceLeastdevelopedcountriesthatarenotsmallislandstates5292638511677Smallislanddevelopingstatesthatarenotleastdevelopedeconomies12021011Leastdevelopedcountriesandsmallislanddevelopingstates1344966301.Somesmallislanddevelopingstatesareclassifiedashigh-incomeeconomies.However,incomelevelsarenotarelevantmetricinthiscontext,astheyarehighlyvulnerabletoclimatechangeandrequirevastsupportforresilientmeasures.Table65:ClimatefinanceinLDCs,SIDSandcountriesthatbelongtobothcategories,bysourceoffundsandtypeofrecipientorborrower,2022TypeofLDCsSIDSBothrecipientMDB-Forlow-andmiddle-Forhigh-incomeMDB-ormanagedincomeeconomieseconomiesmanagedborrowerexternalexternalMDBownresourcesMDB-MDB-MDBownresourcesaccountMDBownmanagedMDBownmanagedaccountaccountexternalaccountexternalresourcesresourcesPublic989811951461189328560027recipient/borrowerPrivaterecipient/4937850217802-borrowerTotal1039012871511191506560327()Seefootnote1forFigures1aand1b.24https://www.un.org/development/desa/dpad/least-developed-country-category/ldc-criteria.html25https://unfccc.int/topics/resilience/workstreams/national-adaptation-programmes-of-action/ldc-country-information26https://www.aosis.org/member-statesANNEXA:FURTHERDETAILEDANALYSISOFMDBCLIMATEFINANCEDATA49TheMDBsreportedthat61%ofclimatefinanceforLDCswascommittedthroughinvestmentloans,followedbygrants(29%).TheMDBsreportedthat46%ofclimatefinanceforSIDSwascommittedthroughinvestmentloans,followedbypolicy-basedfinancing(28%)andgrants(13%).Forthosecountriesthatbelongtobothcategories,themostcommoninstrumentsforclimatefinanceweregrants,followedbyinvestmentloans.AsshowninTable66,climatefinanceinthosecountriesthatbelongtobothLDCsandSIDScategoriesismainlydrivenbygrants(71%)andinvestmentloans(29%).Table66:ClimatefinanceinLDCs,SIDSandcountriesthatbelongtobothcategoriesbyinstrument,2022LDCsSIDSBothForlow-andmiddle-Forhigh-incomeincomeeconomieseconomiesInstrumentAdaptationMitigationAdaptationMitigationAdaptationMitigationAdaptationMitigationtype--36383Equity--------13351Grant17681573163101154----Guarantee10641-216050Investment4108296441841866114loanLineofcredit-60-0--Policy-based190303126462267financingResults-based206339------financingOther155733360-instrumentsTotal63785285711991300211496134Note:1.Numbersinthetablesandfiguresinthistablemaynotadduptothetotalsshown,duetorounding.2.()Seefootnote1forFigures1aand1b.Sub-SaharanAfricaandSouthAsiaaretheLDCsregionsthatreceivemostclimatefinance,with75%and19%ofthetotalamountrespectively.Ontheotherhand,themajorityoftheresourcestoSIDSisprovidedintheLatinAmericaandCaribbeanregion,whichreceives65%ofthetotalamount,followedbyEastAsiaandthePacific(30%),whileforcountriesthatbelongtobothcategories,climatefinanceissharedequallybetweenEastAsiaandthePacific,andLatinAmericaandtheCaribbean(40%),withalowerproportionofresourcesgoingtoSub-SaharanAfrica(20%).Table67:ClimatefinanceinLDCs,SIDSandcountriesthatbelongtobothcategoriesbyregion,2022LDCsSIDSBothAdaptationMitigationAdaptationMitigationForlow-andmiddle-Forhigh-incomeincomeeconomieseconomiesRegionAdaptationMitigationAdaptationMitigationEastAsia2702393831044414922030andthePacific--3028482376219859LatinAmericaandtheCaribbean502022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEMiddleEastandNorth140105------AfricaSouthAsia1521664156----Sub-Saharan44464278113219-7844AfricaTotal63785285711991300211496134Note:1.Numbersinthetablesandfiguresinthistablemaynotadduptothetotalsshown,duetorounding.2.()Seefootnote1forFigures1aand1b.Theadaptationfinanceforenergy,transport,andotherbuiltenvironmentandinfrastructureandthecross-cuttingsectorsreceivemostoftheresourcesprovidedtotheLDCs,with38%and18%respectively,followedbywaterandwastewatersystems(14%)andcropandfoodproduction(13%).RegardingtheSIDS,theadaptationfinanceforenergy,transport,andotherbuiltenvironmentandinfrastructurereceives40%ofthetotalamountofadaptationfinance,followedbyinstitutionalcapacitysupportortechnicalassistance(17%)andcross-cuttingsectors(16%).Energy,transport,andotherbuiltenvironmentandinfrastructureisalsothesectorthatreceivesthehighestamountofclimatefinanceinthosecountriesthatbelongtobothcategories(59%).Table68.ClimatefinancebyadaptationsectorandregioninLDCs,SIDSandcountriesthatbelongtobothcategories,2022(in$million)LDCsSIDSBothEastMiddleSouthSub-EastMiddleSouthSub-EastMiddleSub-AsiaEastAsiaSaharanAsiaEastAsiaSaharanAsiaEastSaharanandtheandandtheandandtheandAfricaPacificNorthAfricaPacificNorthAfricaPacificNorthAfricaAfricaAfricaCoastalandriverine--47742039-0---infrastructure528237584-15--2253CropandfoodproductionCross-cuttingsectors31143367401222411522623Energy,transport,andotherbuilt159237511485256142448710557environmentandinfrastructureFinancialservices-3436414151---5-Industry,manufacturingand-----------tradeInformationand0--3022-7211communicationstechnologyInstitutionalcapacity44724171500101205supportortechnical10assistanceOtheragricultural66-582585-53--andecologicalresourcesWaterand-3762797-80--92-9wastewatersystemsTotal27014015214446427539153022019878Note:1.Numbersinthetablesandfiguresinthistablemaynotadduptothetotalsshown,duetorounding.2.()Seefootnote1forFigures1aand1b.ANNEXA:FURTHERDETAILEDANALYSISOFMDBCLIMATEFINANCEDATA51TheenergysectorreceivesmostoftheclimatechangemitigationfinanceprovidedtoLDCs(60%),followedbycross-sectoralactivities(15%)andbuildings,publicinstallationsandend-useenergyefficiency(11%),similarlytothecategorythatincludescountriesthatarebothLDCsandSIDS.RegardingSIDS,cross-sectoralactivitiesreceive37%oftotalmitigationfinance,followedbyenergy(28%)andthetransportsector(13%).Table69.ClimatefinancebymitigationsectorandregioninLDCs,SIDSandcountriesthatbelongtobothcategories,2022(in$million)LDCsSIDSBothEastMiddleSouthSub-EastMiddleSouthSub-EastMiddleSub-AsiaEastAsiaSaharanAsiaEastAsiaSaharanAsiaEastSaharanandtheandandandAfricaPacificNorthAfricaandtheNorthAfricaandtheNorthAfricaPacificAfricaPacificAfricaEnergy1828630825801811364111038Miningandmetal-----------productionforclimateactionManufacturing--1140-0---0-Agriculture,forestry,12-23250310---13-landuseandfisheriesWatersupplyand--43263-94--5--wastewaterSolidwaste--123-44---0-managementTransport--8883152--710-Buildings,public441584204781210111installationsandend-useenergyefficiencyInformationandcommunicationstech----3146-15---nology(ICT)anddigitaltechnologiesResearch,-----0-----developmentandinnovationCross-sectoral401611161249392157256activitiesTotal2391056644278253911632305944Note:1.Numbersinthetablesandfiguresinthistablemaynotadduptothetotalsshown,duetorounding.2.()Seefootnote1forFigures1aand1b.522022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEANNEXBGEOGRAPHICALCOVERAGEOFTHEREPORTTheinclusionofeconomies,andthetermsandnamesusedinthisreporttorefertogeographicalorotherterritories,politicalandeconomicgroupingsandunitsdonotconstituteandshouldnotbeconstruedasconstitutinganexpressorimpliedposition,endorsement,acceptanceorexpressionofopinionbytheMDBsortheirmembersconcerningthestatusofanycountry,territory,groupingandunit,ordelimitationofitsborders,orsovereignty.TablesB.1andB.2.presentalistofeconomiescoveredbyatleastoneoftheMDBs,takenintoaccountforclimatefinancedatapresentedinthisreportandcategorisedinaccordancewiththeWorldBankGroup’sclassificationlistdatedJune2022.LeastdevelopedeconomiesaredefinedaccordingtotheUNFCCClist27andsmallislandstatesaredefinedaccordingtotheAllianceofSmallIslandStates(AOSIS)list.Notethatsomeleastdevelopedeconomiesarealsosmallislandstates.Inthosecases,theyareidentifiedas“both”.Climatefinanceforeconomiesmarkedwithanasterisk()hasnotbeenreportedinpreviouseditionsoftheJointReportonMDBs’ClimateFinance.TableB.1.Climatefinanceinlow-andmiddle-incomeeconomiesfor2015-2022(in$million)EconomyRegionIncomeLDC/Totalclimatefinanceinreportingyear,in$millionSIDSAfghanistanSouthAsiaLowLDC20152016201720182019202020212022AlbaniaincomeLDC-17314714428165485415AlgeriaNon-UpperAngolaEuropeanmiddleLDC11017415111114346670ArgentinaUnionincomeSIDSArmeniaMiddleLDC1-------AzerbaijanEastandLowerBangladeshNorthmiddle-157243155470260522BelarusAfricaincomeBelizeSub-3145082276143491712112042485BeninSaharanLowerAfricamiddle10845132451077921086LatinincomeAmerica16171250208114580andtheUpperCaribbeanmiddle89913152001296214411277321413Non-incomeEuropean4349724127814630-UnionUpperNon-middle5142021311146EuropeanincomeUnionUpper21344126297123232229middleSouthAsiaincomeLowerNon-middleEuropeanincomeUnionUpperLatinmiddleAmericaincomeandtheCaribbeanUpperSub-middleSaharanincomeAfricaLowermiddleincome27http://unfccc.int/cooperation_and_support/ldc/items/3097.phpANNEXB:GEOGRAPHICALCOVERAGEOFTHEREPORT53EconomyRegionIncomeLDC/Totalclimatefinanceinreportingyear,in$millionSIDS20152016201720182019202020212022BhutanSouthAsiaLowerLDC217742202461middleBoliviaLatinincomeLDC405373321363124771196BosniaandAmericaLDCHerzegovinaandtheLowerLDC279510111018078133133BotswanaCaribbeanmiddleSIDSincomeLDC--143-19-17054BrazilNon-LDCEuropeanUpper54891476614731700143620062334BulgariaUnionmiddleBothBurkinaFasoincome58156112137541130350BurundiSub-UpperCambodiaSaharanmiddle97166130194134311310CameroonAfricaincomeCapeVerde2522282731084751CentralLatinUpperAfricanAmericamiddle468586117139121171273RepublicandtheincomeChadCaribbean21732918676157423767ChinaUpperEuropeanmiddle1-15-1151843ColombiaUnionincome7-1023998106118ComorosSub-LowCongoSaharanincome6--415810140311AfricaCostaRicaLow10912349230520192424236318672635Sub-incomeSaharan18290474771998065715952014AfricaLowermiddle5-4-2393360EastAsiaincomeandtheLower-2525858111142Pacificmiddleincome200-54162379214301Sub-LowerSaharanmiddleAfricaincomeSub-LowSaharanincomeAfricaLowSub-incomeSaharanAfricaUppermiddleSub-incomeSaharanAfricaUppermiddleEastAsiaincomeandthePacificLowermiddleLatinincomeAmericaLowerandthemiddleCaribbeanincomeSub-UpperSaharanmiddleAfricaincomeSub-SaharanAfricaLatinAmericaandtheCaribbean542022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEEconomyRegionIncomeLDC/Totalclimatefinanceinreportingyear,in$millionSIDS20152016201720182019202020212022Côted'IvoireSub-Lower573296346535453406311DemocraticSaharanmiddleRepublicofAfricaincomeLDC1015312869830583591theCongoLDCDjiboutiSub-LowSIDS-2-41211031450SaharanincomeSIDSDominicaAfrica---397019329LowerLDCDominicanSub-middleLDC113735092581294690RepublicSaharanincomeLDCAfricaSIDS58232527792616446317832EcuadorUpperLDCLatinmiddle511693158515971611150822321995EgyptAmericaincomeSIDSandthe--29521282175251ElSalvadorCaribbeanUpperEquatorialmiddle----63---GuineaLatinincomeEritreaAmerica--7-34---EswatiniandtheUpperEthiopiaCaribbeanmiddle331-588271140FijiincomeGabonLatin79206192115412141911154150GambiaAmericaLowerGeorgiaandthemiddle533115-2186274GhanaCaribbeanincome-43249567287794GrenadaMiddleLowerEastandmiddle-5953212916113NorthincomeAfrica10918788110415304314237UpperLatinmiddle3272816335389148322Americaincomeandthe--112-37423CaribbeanLowincomeSub-SaharanLowerAfricamiddleincomeSub-SaharanLowAfricaincomeSub-UpperSaharanmiddleAfricaincomeUpperSub-middleSaharanincomeAfricaLowEastAsiaincomeandthePacificUppermiddleSub-incomeSaharanLowerAfricamiddleincomeSub-SaharanUpperAfricamiddleincomeNon-EuropeanUnionSub-SaharanAfricaLatinAmericaandtheCaribbeanANNEXB:GEOGRAPHICALCOVERAGEOFTHEREPORT55EconomyRegionIncomeLDC/Totalclimatefinanceinreportingyear,in$millionSIDS20152016201720182019202020212022GuatemalaLatinUpper-322313343373596GuineaAmericamiddleGuinea-andtheincomeLDC-717649029250225BissauCaribbeanBothGuyanaLowSIDS10-3128121149Sub-incomeBothHaitiSaharan1721515-31276AfricaLowSIDSHondurasincome414143234107100153258IndiaSub-BothIndonesiaSaharanUpper253444699184250477205IranAfricamiddleincome19483017267837033671354937353737IraqLatin674578873773959117216372170AmericaLowerJamaicaandthemiddle----0---CaribbeanincomeJordan8610321446103141493KazakhstanLatinLowerKenyaAmericamiddle215752290352436KiribatiandtheincomeKosovoCaribbean238412517272457262298406KyrgyzLowerRepublicLatinmiddle43852138926036496564421AmericaincomeandtheLower2601595811161378451583789Caribbeanmiddleincome-11-2324913SouthAsiaLower74563148965796121EastAsiamiddleandtheincome73179551181891011091PacificUpperMiddlemiddleEastandincomeNorthAfricaUppermiddleMiddleincomeEastandNorthUpperAfricamiddleincomeLatinAmericaUpperandthemiddleCaribbeanincomeLowerMiddlemiddleEastandincomeNorthLowerAfricamiddleincomeCentralUpperAsiamiddleincomeSub-LowerSaharanmiddleAfricaincomeEastAsiaandthePacificNon-EuropeanUnionCentralAsia562022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEEconomyRegionIncomeLDC/Totalclimatefinanceinreportingyear,in$millionSIDS20152016201720182019202020212022LaoPeople’sEastAsiaLowerLDC1061340109725991236DemocraticandthemiddleRepublicPacificincomeLDC303278258124125424LebanonLDCMiddleLowerLDC-1151510892230LesothoEastandmiddleLDCLiberiaNorthincomeSIDS36826470418175MadagascarAfricaLDCMalawiLowerSIDS-3713189280195454385MalaysiaSub-middleLDCMaldivesSaharanincomeSIDS58121021821030127351MaliAfricaMarshallLowSIDS----0--0IslandsSub-incomeMauritaniaSaharanLDC5351922148832MauritiusAfricaLowincome-910494144102950MexicoSub-SaharanLow2121321217246MicronesiaAfricaincomeMoldova-6-113956314MongoliaSub-Upper-MontenegroSaharanmiddle9--1-81--AfricaincomeMoroccoUpper3302771211119310065751277497EastAsiamiddleMozambiqueandtheincome----46234037PacificLow45106110768186189105SouthAsiaincome134415035616225557176Sub-UpperSaharanmiddle62168257131223AfricaincomeLower91472966810579278429161620EastAsiamiddleandtheincome1115155224408312397693PacificUppermiddleSub-incomeSaharanAfricaUppermiddleSub-incomeSaharanAfricaLowermiddleLatinincomeAmericaUpperandthemiddleCaribbeanincomeLowerEastAsiamiddleandtheincomePacificUppermiddleNon-incomeEuropeanUnionLowermiddleEastAsiaincomeandthePacificLowincomeNon-—EuropeanUnionMiddleEastandNorthAfricaSub-SaharanAfricaANNEXB:GEOGRAPHICALCOVERAGEOFTHEREPORT57EconomyRegionIncomeLDC/Totalclimatefinanceinreportingyear,in$millionSIDS20152016201720182019202020212022MyanmarEastAsiaLowerLDC811072121789057414-NamibiaandthemiddleLDCNepalPacificincomeLDC--58465822055Sub-UpperNicaraguaSaharanmiddleSIDS5671112044352521022280296AfricaincomeNigerLowerLDC20749235565620989NigeriaSouthAsiamiddleSIDSNorthincomeBoth121634729273164219963MacedoniaLatinLDCPakistanAmericaLower1102341155170105013431157andthemiddlePanamaCaribbeanincome27148189972149122PapuaNewSub-GuineaSaharanLow116167310181305129494427041043ParaguayAfricaincomeSub-1122535017167140128643PeruSaharanLowerAfricamiddle3661278252284193PhilippinesNon-incomeRomaniaEuropeanUpper44512941165423357RussianUnionmiddleFederationincome853093062012032875711476RwandaSouthAsiaLowerSamoamiddle65763816750516938789902908SãoToméLatinincomeandPríncipeAmerica24919688776831645510411146SenegalandtheHighCaribbeanincome55-----95-EastAsiaandtheLower6357203217121355293344PacificmiddleLatinincome22-4566954AmericaandtheUpper4611-3231213CaribbeanmiddleLatinincome4116679272168265441590AmericaandtheUpperCaribbeanmiddleEastAsiaincomeandthePacificLowerEuropeanmiddleUnionincomeNon-HighEuropeanincomeUnionUpperSub-middleSaharanincomeAfricaEastAsiaLowandtheincomePacificSub-LowerSaharanmiddleAfricaincomeSub-LowerSaharanmiddleAfricaincomeLowermiddleincome582022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEEconomyRegionIncomeLDC/Totalclimatefinanceinreportingyear,in$millionSIDS201520162017201820192020202120221001432906212843324181189SerbiaNon-UpperSierraLeoneEuropeanmiddleLDC-10251515511233SolomonUnionincomeBothIslandsLDC-10361010117674SomaliaSub-LowSouthAfricaSaharanincomeLDC-8-127228147303SouthSudanAfricaSriLankaLowerSIDS55591035441785575205EastAsiamiddleSIDSSt.LuciaandtheincomeLDC-139-281570184St,VincentPacificSIDSandtheLow842125747260419287477GrenadinesSub-incomeLDCSudanSaharan--235115623AfricaUpperBothSurinamemiddleLDC--9-11101320Sub-incomeSIDSSyrianArabSaharan5-1341581357252RepublicAfricaLowTajikistanincome1826329519-39TanzaniaSub-ThailandSaharanLower----1---Timor-LesteAfricamiddleTogoincome14934232192116214150210TongaSouthAsiaUpper24313854919844376455612LatinmiddleAmericaincome176911305339776316269andtheCaribbeanUpper-592-464075middleLatinincome--64232434052AmericaandtheLow15811483282755CaribbeanincomeSub-UpperSaharanmiddleAfricaincomeLatinLowAmericaincomeandtheCaribbeanLowermiddleMiddleincomeEastandLowerNorthmiddleAfricaincomeUpperCentralmiddleAsiaincomeLowerSub-middleSaharanincomeAfricaLowEastAsiaincomeandthePacificUppermiddleEastAsiaincomeandthePacificSub-SaharanAfricaEastAsiaandthePacificANNEXB:GEOGRAPHICALCOVERAGEOFTHEREPORT59EconomyRegionIncomeLDC/Totalclimatefinanceinreportingyear,in$millionSIDS20152016201720182019202020212022TunisiaMiddleLower199638726542790192298TurkeyEastandmiddleNorthincome25822135179014501449138323862200AfricaUpperNon-middleEuropeanincomeUnionUppermiddleTurkmenistanCentralincome1165-42-AsiaUppermiddleTuvaluEastAsiaincomeBoth731102613362UgandaandtheLDCUkrainePacificLowSIDS12415166621283394330913incomeSub-LDC940865833519111511921128461SaharanLowerLDCAfricamiddleincomeNon-LowerEuropeanmiddleUnionincomeLowerUzbekistanCentralmiddle61552701162823100510291650AsiaincomeVanuatuEastAsiaNot235117--84572Venezuelaandtheclassi-VietnamPacificfied-------1WestBankandGazaLatinLower3851211862210445510523327YemenAmericamiddleZambiaandtheincome5121522772857ZimbabweCaribbeanLower---7813123169246EastAsiamiddleandtheincome682014011381452056PacificLow121824-436814MiddleincomeEastandNorthLowAfricaincomeMiddleLowerEastandmiddleNorthincomeAfricaSub-SaharanAfricaSub-SaharanAfrica602022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETableB.2.Climatefinanceinhigh-incomeeconomiesfor2015-2022(in$million)EconomyRegionIncomeLeastTotalclimatefinanceinreportingyear,in$millionDevelopedAustriaEuropeanHighEconomy/20152016201720182019202020212022BahamasUnionincomeSmall11011188852344397870453389LatinIslandBahrainAmericaHighState11441004218143137andtheincomeBarbadosCaribbeanSIDS------32-BelgiumMiddleHighChileEastandincomeSIDS15--5315811798NorthCookIslandsAfricaHighSIDS427135168969758743213441653CroatiaLatinincomeCyprusAmericaSIDS119153208722459506550CzechandtheHighRepublicCaribbeanincome-412-55--DenmarkEuropeanEstoniaUnionHigh174166831136134281268FinlandLatinincomeFranceAmerica222746344591956GermanyandtheHighGreeceCaribbeanincome9111144596204987331091HungaryEastAsiaHighIcelandandtheincome1152151175335275564605IrelandPacificHighIsraelEuropeanincome478958101828919ItalyUnionHighEuropeanincome4201357639942284258575340UnionHighEuropeanincome41853124446126733669489569716160UnionHighEuropeanincome16692390176818681711316021814310UnionHighEuropeanincome21691673225732135311931839UnionHighEuropeanincome4971553115515570592713UnionHighEuropeanincome-189------UnionHighEuropeanincome188219148221144449262540UnionHighEuropeanincome160-----17224UnionHighEuropeanincome25932437249219641985347335465172UnionHighNon-incomeEuropeanUnionHighEuropeanincomeUnionMiddleHighEastandincomeNorthAfricaEuropeanUnionANNEXB:GEOGRAPHICALCOVERAGEOFTHEREPORT61EconomyRegionIncomeLeastTotalclimatefinanceinreportingyear,in$millionDevelopedLatviaEuropeanHighEconomy/20152016201720182019202020212022LithuaniaUnionincomeSmall247286-102268128LuxembourgEuropeanHighIslandMaltaUnionincomeState1832159515730559131114EuropeanHighNauruUnionincomeSIDS603--2230721NetherlandsMiddleSIDSNewEastandHigh----10-7CaledoniaNorthincomeSIDSNorwayAfrica--36222--15EastAsiaHighSIDSOmanandtheincomeSIDS6304653679138167951433702PacificHighSIDSPalauEuropeanincome----10--PolandUnionHighPortugalEastAsiaincome-63477472-282-SeychellesandtheSingaporePacificHigh----264--1SintMaartenNon-income(Dutchpart)European---2-812SlovakUnionHighRepublicMiddleincome11891806156212862095279031903294SloveniaEastandSpainNorthUpper-----303296248725SwedenAfricamiddleSwitzerlandEastAsiaincome25--205919andtheHighPacificincome------20178EuropeanHighUnionincome----118552544EuropeanHighUnionincome3028753281143367499Sub-SaharanHigh1541847193646122AfricaincomeEastAsia1973560187615262561325944985621andtheHighPacificincome5574171431103813831681572717LatinAmericaHigh-6--2---andtheincomeCaribbeanHighEuropeanincomeUnionHighEuropeanincomeUnionHighEuropeanincomeUnionEuropeanHighUnionincomeEuropeandCentralAsia622022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEEconomyRegionIncomeLeastTotalclimatefinanceinreportingyear,in$millionDevelopedTrinidadandLatinHighEconomy/20152016201720182019202020212022TobagoAmericaincomeSmallUnitedArabandtheIsland11---21165EmiratesCaribbeanHighStateUnitedMiddleincomeKingdomEastandHighSIDSUruguayNorthincomeAfricaHigh----222-EuropeanincomeUnion40103272376255179---LatinAmerica139100113143342306164177andtheCaribbeanTableB.3.Climatefinanceinregional,globalandmulti-regionalprojectsfor2015-2022(in$million)EconomyRegionIncomeTotalclimatefinanceinreportingyear,in$million20152016201720182019202020212022RegionalRegionalRegional1427409143621432668242541065708GlobalGlobalGlobal16977--103145188179Multi-Multi-Multi-147521933392034375186regionalregionalregionalNote:ClimatefinancefiguresfortheCzechRepublicwerereportedundertheEU-12regioninthe2015JointReportonMDBs’ClimateFinance.FiguresforGreecewerereportedundertheEU-12regionstartingfromthe2016editionofthereport.Tofacilitatecomparabilitywithdatareportedinpreviousyears,FigureB.1presentsclimatefinancecommitmentsfortheperiod2011-18asinpastreports,plusthecolumnsfor2019-22forthesamesetofeconomies.Note,however,thatthisfigureisprovidedforhistoricalcomparisononly.The2022editionofthereportincludesalleconomieswheretheMDBsoperate,withadisaggregationbytheincomeleveloftheborrowingorrecipientcountry.ANNEXB:GEOGRAPHICALCOVERAGEOFTHEREPORT63FigureB.1.Climatefinancecommitmentsfor2011-21(in$billion)8070.73.76058.82.47.12.4$billion3.94.86.80.30.946.44043.13.645.42.16.42.88.93.37.15.335.24.01.28.67.01.128.327.42.33.85.03.95.60.51.925.127.026.823.81.15.25.76.57.20.7203.21.63.32.21.22.92.91.44.44.65.05.03.40.33.73.13.34.13.55.533.15.62.23.71.953..251.25.22.553..121.74.32.74.321.30.528.510.712.711.810.711.513.218.822.009.4201120122013201420152016201720182019202020212022AfDBADBADBAIIBCEBEBRDEIBIDBGIsDBNDBWBGNotes:1.AnnexBdetailstheeconomiesreportedforpreviousyears.2.InpasteditionsoftheJointReportonMultilateralDevelopmentBanks’ClimateFinance,fortheyears2011-18,EIBclimatefinancefigureswererestrictedtodevelopingandemergingeconomiesintransitionwhereotherMDBswereoperatinganddidnotincludeothereconomieswhereonlytheEIBwasoperatingandsupportedclimateaction.3.Intheyears2011-14,thenumbersfortheWBGincludedonlyIFCandIDAandIBRD,andIFCincludedshort-termfinance(suchastradefinance).Since2015IFChasnotincludedshort-termfinancewhenreportingitsclimatefinancefigures.MIGAfinancehasbeenincludedsince2015.4.ForADB,ExternalResourcesunderManagement(ERUM)includefinanceadministeredforotherclients,includingAIIB.ADBadministersseveralAIIBprojects,someofwhichhaveclimatefinance.For2021,ADB’sclimateadaptationfinanceof$19millionandclimatemitigationfinanceof$893millionfromADB-administeredAIIBprojectsarereportedunderERUM.AsAIIBreportsclimatefinanceasashareofitsfinancingfortheseprojectsunderitsownresources,the2021MDBtotalshaveexcludedthesefiguresfromADBtoavoiddoublecounting.During2022,ADB’sclimateadaptationfinanceof$7millionandclimatemitigationfinanceof$7millionfromADB-administeredAIIBprojectsarereportedunderERUM.Thisdifferenceisnotnoticedinthisgraphastheamountequals$0.014billion.642022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEANNEXCMETHODOLOGIESANDDEFINITIONSANNEXC.1.DEFINITIONSANDCLARIFICATIONSAvoidingdoublecounting:Wherethesameproject,sub-projectorprojectelementcontributestomitigationandadaptation,anMDB’sindividualprocesseswilldeterminewhichproportioniscountedasmitigationorasadaptation,sothattheactualfinancingwillnotberecordedmorethanonce.SomeMDBsarereportingseparatecategoryclimatefinanceinprojectswherethesamecomponentsorelementscontributetomitigationandadaptationsimultaneously.TheMDBsareworkingonthebestmethodforreportingprojectswherethesamecomponentsorelementscontributetobothmitigationandadaptation.Conservativeness:Wheredataareunavailable,anyuncertaintymustbeovercomebytakingaconservativeapproach,whereunder-reportedratherthanover-reportedclimatefinanceispreferable.Financinginstruments:Thisreportaccountsforclimatefinancethroughthelargestandmostrelevantdevelopment-financeinstrumentsofMDBs,includinggrants,loans,guarantees,equity,andperformance-basedinstruments.Granularity:MDBsreportclimatefinancebytakingonlythosecomponentsand/orsub-componentsorelementsorproportionsofprojectswithactivitiesthatcontributedirectlytoorpromoteclimatechangeadaptationand/ormitigation.Investmentsandtechnicalassistance:ReferstovehiclesthatMDBsusetochannelspecificinvestmentstofinancecapitalandrecurrentexpendituresforgoodsandservices,aswellastospecialisedadvisoryservicesandcapacity-buildinginitiatives.MDB-managedexternalresources:ReferstothevolumeofoperationssupportedbybilateralinstitutionsthroughdedicatedclimatefinanceentitiessuchastheGEFandCIF,orotherdonorfundssuchasEUblendingfacilities,whichmayalsobereportedtotheDevelopmentAssistanceCommitteeoftheOrganisationforEconomicCo-operationandDevelopment(OECD)bycontributorcountries.Pointofreporting:Datareportedhereinreflectfinancialcommitmentsatthetimeofboardapprovalorfinancialagreementsignatureandisthereforebasedonex-anteestimations.Alleffortshavebeenmadetopreventdoublecounting.Norevisionswillbeissuedincaseswhereaproject’sscopechangeslatertoeitherincreaseordecreaseclimatefinancing.Privatedirectmobilisation:FinancingfromaprivateentityoncommercialtermsduetotheactiveanddirectinvolvementofanMDBleadingtocommitment.Evidenceofactiveanddirectinvolvementincludesmandateletters,feeslinkedtofinancialcommitmentorothervalidorauditableevidenceofanMDB’sactiveanddirectroleleadingtocommitmentsbyprivatefinanciers.Privatedirectmobilisationdoesnotincludesponsorfinancing.Privateindirectmobilisation:FinancingfromprivateentitiessuppliedinconnectionwithaspecificactivityforwhichanMDBisprovidingfinancing,wherenoMDBisplayinganactiveordirectrolethatleadstothecommitmentoftheprivateentity’sfinance.Privateindirectmobilisationincludessponsorfinancing,ifthesponsorqualifiesasaprivateentity.Publicandprivatesectoroperations:ThisdeterminationisbasedonthestatusofthefirstrecipientorborrowerofMDBfinance.Thefirstrecipientorborrowerisconsideredtobepublicwhenatleast50%ofthestakesorsharesoftherecipientorborrowerarepubliclyowned.Publicdirectmobilisation:FinancingfromapublicentityduetotheactiveanddirectinvolvementofanMDBleadingtocommitment.EvidenceofactiveanddirectinvolvementincludesmandatelettersorothervalidorauditableevidenceofanMDB’sactiveanddirectrole.ThemaindifferenceANNEXC:METHODOLOGIESANDDEFINITIONS65betweenanexternalresourceunderMDBmanagement(ERUM)andpublicdirectmobilisationisthedisbursementwhichunderpublicdirectmobilisationgoesdirectlyfromapublicentitytothebeneficiary.Recipientorborrower:Referstothefirstborrowerorbeneficiarytowhomfinancewillflowdirectly.TheMDBsacknowledgethatthisclassificationisneithersimplenorstraightforwardandthatthecharacteristicsofthefirstrecipientorborrowermaynotbethesameasthoseofthefinalbeneficiaryorborrower.Anexamplewouldbealoantoanationaldevelopmentbank(thefirstrecipient)forenergyefficiencyinsmallandmedium-sizedenterprises(thefinalbeneficiaries).Operationsthroughpublic-privatepartnerships(PPPs)addanotherlayerofcomplexitytothisclassification.Reportingperiod:Thisreport’sdatacoverthefiscalyear2022.EventhoughMDBsdonotfollowthesamereportingcycle,dataremaincomparableacrossMDBsasallreportingcyclescorrespondtoa12-monthperiod.Resourcescovered:TheseincludeMDBs’ownaccountsaswellasarangeofexternalresourcesmanagedbytheMDBsandvarioussourcesofco-financing.Valuesofzeroand“—”:Reportingiscompleteforallfieldsandtables.Avalueof0inatablemeansthatthevalueisbelow$0.5millionwhilea“—“meansthatnoamountwasreported.Asallfinancialfiguresareroundedtothenearest$million,calculationscontainedinatablemayvaryslightlyandmaynotalwaysaddupto100%ortothetotalshown.ANNEXC.2.JOINTMETHODOLOGYFORTRACKINGCLIMATECHANGEADAPTATIONFINANCEBetween2021and2022,theMDBscarriedoutareviewofthejointMDBmethodologyfortrackingadaptationfinance,whichaimedtobettercharacteriseadaptationactivitiesandtoprovideguidanceontheapplicationofthejointmethodologyinabroaderrangeoffinancinginstruments.Theoutcomeofthisreview,agreedatCOP27amongallMDBs,wasanupdatedmethodologytobeappliedfrom2023thatreflectstheevolvingunderstandingofadaptationandclimateresilienceandadvancesmadeinthefieldsofadaptationfinance.Inthiscontext,thepresentreportdoesnotreflectthetrackingofadaptationfinancebasedontheupdatedmethodology.BackgroundandguidingprinciplesClimateresilienceandadaptationareintrinsicallylinkedtodevelopment.Thismakesitchallengingtoaccuratelyestimateadaptationfinanceelementsindevelopmentoperations.Inresponsetothischallenge,thejointMDBWorkingGrouponClimateFinanceTrackingappliesacommonadaptationfinancetrackingmethodologytoidentifywithinthedevelopmentoperationsofMDBsthosespecificadaptationactivities(or,inotherwords,thedifferentiatingelementsofdevelopmentoperations)thatarecarriedoutinresponsetoperceivedorexpectedclimatechangeimpacts.Themethodologyappliesacontext-specific,location-specificandgranularapproach,andestimationsaremadeconservativelytoreducescopeforover-reportingofadaptationfinance.TheMDBadaptationfinancetrackingmethodologyconsidersthesub-projectlevelorproject-elementleveltobeappropriate.ThejointMDBapproachalsoseekstoidentifythelinksbetweenadaptationactivitiesandtheproject’sexplicitintenttoreducevulnerabilitytoclimatechange.Thus,thevolumeofMDB-reportedadaptationfinanceisanestimationoftotalprojectfinanceforspecificprojectactivitiesthatcontributetooverallprojectoutcomesintheprocessofadaptingtoclimatechange.662022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEItisimportanttonotethattheMDBs’estimatedclimatefinancemaynotexpressthefullvalueofprojectfinancethatcontributestoclimateresilience.Forinstance,thegranularapproachwouldcapturefinancingforimproveddrainageofanewlyconstructedroadtowithstandheavyrainfallorstormsurgesthatinturncontributestotheoverallresilienceoftheroadandtheinvestment.Thegranularapproachdoesnotcapturethevalueoftheentireprojectorinvestmentthatmayincreaseresilienceduetospecificadaptationactivitieswithintheproject.Inaddition,someactivitieswithoutassociatedincrementalcosts,suchasoperationalprocedurestoensurebusinesscontinuityorthepracticeofsitingassetsoutsidetherangeofafuturestormsurge,maynotbetrackedinquantitativeterms.MDBmethodologyandMDB-IDFCcommonprinciplesMDBsandtheInternationalDevelopmentFinanceClub(IDFC)arefullycommittedtopromotingandsupportingclimate-resilientdevelopmentasanessentialpartofthesustainabilityoftheirinvestments.Withthissharedcommitment,MDBsandtheIDFCworktogethertowardsimproveddefinitionsandunderstandingofthedifferentapproachesandprinciplesfortrackingclimatechangeadaptationfinance.Asaresult,inJuly2015theseinstitutionsagreedontheCommonPrinciplesforClimateChangeAdaptationFinanceTracking.ThePrinciplesestablishtheparameterswithwhichtoidentifyandestimatethevolumeofadaptationfinanceinMDBandIDFCoperations.Theyalsoformthebasisforfurtherjointworktoincreasethecomparabilityofreportedfiguresonclimateadaptationfinanceandtoharmonisekeyconceptsrelatedtoreportingguidelinesandprocesses.MDBsandtheIDFCarecurrentlydevelopingadditionalmetricstoidentifyandreportonclimateresilienceintheirdevelopmentoperations.ApplicationoftheadaptationfinancetrackingmethodologyTheMDBmethodologyonadaptationfinancetrackingconsistsofthefollowingthreekeysteps:1.Settingouttheclimatechangevulnerabilitycontextoftheproject;2.Makinganexplicitstatementofintentoftheprojecttoreduceclimatechangevulnerability;and3.Articulatingaclearanddirectlinkbetweenspecificprojectactivitiesandtheproject’sobjectivetoreducevulnerabilitytoclimatechange.Theidentificationandestimationofadaptationfinanceislimitedsolelytothoseprojectactivities(thatis,projects,projectcomponents,orelementsorproportionsofprojects)thatareclearlylinkedtotheclimatechangevulnerabilitycontext.Step1.ContextofvulnerabilitytoclimatechangeForaprojecttobeconsideredascontributingtoadaptation,thecontextofclimatechangevulnerabilitymustfirstbesetoutclearlyusingarobustevidencebase.Projectdocumentsmayrefertoexistinganalysesandreportsortooriginal,bespokeassessmentsofclimatechangevulnerability,suchasthosecarriedoutaspartofprojectpreparation.Goodpracticeintheuseofexistinganalysesorreportsincludescitingauthoritative,preferablypeer-reviewedsources,suchasacademicjournals,nationalcommunicationstotheUNFCCC,NationallyDeterminedContributions(NDCs),reportsoftheIntergovernmentalPanelonClimateChange,orstrategicprogrammesforclimateresilience.Goodpracticeinconductingoriginal,bespokeanalysisentailstheuseofinformationfromtrustedsources,whichdocumentthevulnerabilityofcommunities,physicalassetsorecosystemstoclimatechangeaswellastheuseofrecentclimatetrendsincludinganydeparturesfromhistoricmeans.Thesemaybecombinedwithclimatechangeprojectionsdrawnfromarangeofclimatechangemodels,withhighandlowgreenhousegasemissionscenarios,toexplorethefullarrayofprojectedoutcomesanduncertainties.Climateprojectionuncertaintiesshouldbepresentedandinterpretedinatransparentway.ThetimescaleofprojectedclimatechangeimpactsshouldmatchANNEXC:METHODOLOGIESANDDEFINITIONS67theintendedlifespanoftheassetsandsystemsbeingfinancedthroughtheproject(forexample,atimehorizonof2030,2050,2080,andsoon).Step2.StatementofpurposeorintentOnceaproject’scontextofvulnerabilitytoclimatechangehasbeenestablished,theprojectshouldsetouttheexplicitintentiontoaddressthecontext-specificandlocation-specificclimatechangevulnerabilitiesinresponsetotheproject’sclimatevulnerabilityassessment.Thisisanimportantsteptodistinguishbetweenadevelopmentprojectcontributingtoclimatechangeadaptationandastandarddevelopmentproject.Themethodologyisflexibleaboutthelocationandformofthisstatementofintentinthedocument,aslongastheMDBisabletorecordandtracktherationaleforeachadaptationelementlinkedtotheclimate-changevulnerabilitycontextdescribed.MDBprojectswithadaptationfinanceusuallystate—infinaltechnicaldocuments,documentsforboardapproval,internalmemosorotherassociatedprojectdocuments—theintentiontoreducevulnerability.Step3.ClearanddirectlinkbetweenclimatechangevulnerabilityandprojectactivitiesInlinewiththeprinciplesoftheoverallMDBclimatefinancetrackingmethodology,adaptationfinanceestimationsconsideronlythefinanceallocatedtospecificprojectactivitiesthatareclearlylinkedtotheproject’sclimate-changevulnerabilitycontext.Whereclimatechangeadaptationactivitiesareplannedinprojectsthathaveadditionalobjectives,adaptationfinancetrackingtakesintoaccounttheestimatedincrementalcostorinvestmentassociatedwithsuchdiscreteprojectcomponents—orelementsofprojectdesign—thataddressrisksandvulnerabilitiesunderconditionsofcurrentandfutureclimatechange,andcomparesthesewithaprojectdesignthatdoesnotconsidersuchconditions.Whenitisnotpossibletoestimateincrementalcostorinvestmentdirectlyfromprojectbudgets—forexample,whenusingpolicyinstrumentsorbalance-sheetlending,equityinvestmentsorcredit-linelendingthroughfinancialintermediaries—aproportionoftheprojectcostorinvestmentcorrespondingtoadaptationactivitiesmaybeusedtorepresenttheincrementalamount.Table1inAnnexBofthe2016JointReportonMultilateralDevelopmentBank’sClimateFinance28providesalistofexamplesillustratingsector-specificandsubsector-specificadaptationactivitiesinwhichMDBadaptationfinancemaybeidentified.Thelistisnotmeanttobeexhaustive,norisitintendedforapplicationasapositivelist.Itisforillustrativepurposesonly.Anyadaptationfinancethatisidentifiedneedstobesubstantiatedthroughtheapplicationofthethree-stepprocessdescribedabove.ForanillustrationofhowtheMDBadaptationfinancetrackingmethodologyisappliedtodevelopmentoperations,seeTablesC.2.1toC.2.4.AdaptationfinancetrackingamongdevelopmentfinanceinstitutionsAgrowingnumberofinstitutionsandinitiativesworkonthemethodologiesfortrackingclimateadaptationfinanceandmakeincreasingeffortstoharmonisetheseapproaches.TheMDB-IDFCcommonprinciplesresultfromsuchjointwork.Theseinstitutionscontinuetheireffortsforgreaterharmonisation,comparabilityandtransparencyoftheirreportedclimatefinance.Inaddition,theOECD,whichdesignedandappliestheOECD-DACRioMarkers,recommendstheMDBmethodology‘sthree-stepapproachtotrackingclimateadaptationfinanceasa“bestpractice”.TheOECD’seffortshaveresultedinimprovedguidancefortrackingbilateralofficialdevelopmentassistance(ODA)targetingclimatechangeadaptation.28www.ebrd.com/2016-joint-report-on-mdbs-climate-finance.pdf682022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEThereviewoftheadaptationfinancetrackingaimstotakestockofrecentdevelopmentsinthefieldofadaptationfinance,MDBs’effortstosupportclimateadaptationandresiliencethroughawiderangeofsectorsbeyondtraditionalinfrastructuresectors,andtheincreasingdiversityoffinancialmethodsthatareusedtosupportadaptationandresilience.ThisreviewcomplementsongoingeffortsbyMDBstoenhancetherobustnessandtransparencyofclimatefinancetrackingandsupportclimateaction,inlinewiththeobjectivesoftheParisAgreement.TableC.2.1.Casestudy#1oftrackingadaptationfinanceinprojectsProjectfocusClimateResilienceofaNationalPortSectorSectorBriefdescriptionTransport—PortsandMaritimeofprojectTheprojectaimstostrengthentheclimateresilienceofportsonanexposedcoastlineoftheClimateclientcountrybyintroducingphysicalclimateadaptationandresiliencemeasuresintheportsvulnerabilityandundertakingalarge-scalecapacitybuildingprogrammeforthesectortoaddressbarrierstocontextclimateadaptation.StatementofTheclientcountryisexpectedtofacetheconsequencesofclimatechangewithlong-termchangespurposeorintentinclimateandmorefrequentextremeevents.Thecoastlineisparticularlyvulnerabletosea-leveltoreduceclimateriseandassociatedclimateimpacts.Thesealevelisexpectedtoriseby0.25mby2050andbyvulnerabilityupto0.6mby2100relativeto2015.Thisalsoresultsinanincreaseinwaveenergy,whichhasProjectactivitiesmoredamagingimpactstophysicalstructures.Recentepisodesofsevereweather,whichcausedlinkedtowidespreaddamagetoseveralports,demonstratethattheimpactsarealreadybeingfelt.Withinreducingclimatetheclientcountry,portsplayastrategicroleinlinkingthenationaleconomytowidermarketsasvulnerability98%ofexternaltradepassesthroughthecountry’sports.Therefore,adaptingportstotheimpactsofclimatechangeandbuildingtheirresilienceisimperative.TypeoffinancialinstrumentTheprimaryintentionoftheprojectistoadaptandimprovetheresilienceoftheportssectortotheEstimationofimpactsofclimatechange.totaladaptationfinance(amountThephysicalinfrastructureworksfinancedintheprojectincludeenhancementstoexistingandpercentage)breakwaters,quaystrengtheningandrehabilitation.Theseinvestmentsareexpectedtoimprovethequalityofthephysicalinfrastructureandtheabilityoftherelevantportstocontinueoperationsinthefaceofrisingsealevelsandincreasedwaveenergy.Inadditiontothephysicalinfrastructureworks,theprojectalsofinancesasubstantialcapacity-buildingcomponenttofurtherdevelopknowledgeandexpertisewithintheportsectorformanagingthephysicalrisksofclimatechangeonanongoingbasis.InvestmentloanTheMDBprovidedaloanof€40million,ofwhich70%wasreportedasadaptationfinanceonaproportionalbasis,linkedtotheshareofprojectactivitiesthatareconsideredadaptationactivitiesandtheexpectedclimateresilienceoutcomesofreducedweather-relateddamageanddisruption.Table.C.2.2.Casestudy#2oftrackingadaptationfinanceinprojectsProjectfocusImprovingProtectionagainstHealthRisksthroughClimateRiskManagementandBuildingResilienceagainstCatastrophicEventsSectorBriefdescriptionHealthNutritionandPopulationofprojectTheprogrammeaimstocreateaclimate-smarthealthsystemwhereclimate-vulnerablepopulationscanadapttoandbetreatedforthepotentialincreaseinvector-bornediseases(suchasmalariaanddenguefever)duetofloodingandreceivehealthadviceonhowtomanagehealthimpactsresultingfromincreasingairpollutionandrisingtemperatures.ANNEXC:METHODOLOGIESANDDEFINITIONS69ClimateThecountryhasexperiencedrisingaveragetemperaturesandhasseenmoreerraticrainfallandvulnerabilityincreasedincidenceofdroughtsandfloods.Publichealthimpactsincludeanincreaseinheat-contextrelatedmortality,ahigherincidenceofskincancer,respiratoryillness,cardiovasculardisease,andanincreaseindiarrhealdeaths.TherehasalsobeenanexpansionofdenguefevertransmissionStatementofvectorsanddeclinesinoutdoorlabourproductivity.Thisisparticularlyconcerningforthelargepurposeorintentagriculturalworkforcewhichoftenstrugglestopayforhealthinsurancecoverage,asituationtoreduceclimatewhichisexpectedtobefurtherexacerbatedbyclimatechangeimpactsandreducedagriculturalvulnerabilityproductivity.ProjectactivitieslinkedtoThegovernmentsocialreformprogrammeisaimedatensuringbetterprotectionagainsthealthreducingclimaterisksandisdrivenbyanincreasedvulnerabilitytoclimatechange.Itaddressestheneedtovulnerabilitymanageimpactsfromclimatechange-exacerbateddiseasesforvulnerablepopulations,especiallychildren,theelderly,andthelargeproportionoftheworkforcethatworkoutdoors.TypeoffinancialinstrumentAdaptationactivitiesfinancedbythisprogrammeincludeexpandingmandatoryhealthinsuranceEstimationofcoverageandpension,includingtoclimatevulnerablepopulationssuchasworkersemployedintotaladaptationagricultureandtourism;cashtransfersactingasaconsumptionsmoothingtoolduringtimesoffinance(amountincomevolatilitycausedbyextremeweathereventssuchasfloodsordroughtstoprotectfoodandpercentage)securityandhumancapitalofvulnerablefamilies;establishingasteeringcommitteededicatedtoimprovingthehealthcaresystem’sresiliencetoclimatechangeinlinewiththegoalestablishedatCOP26,alongwiththeestablishmentofriskmanagementunitsforbothclimate-relatedanddisasterrisksandimplementationofdroughtplans.Policy-basedfinancingThetotalprojectcostwas$500million,completelyfinancedbytheMDB.Adaptationfinancewasestimatedat$150million(around30%oftheMDB’stotalfinancing)toaccountfortheproportionoftheproject’sinvestmentsdirectlyaddressingclimatechangeadaptation,suchasexpansionofhealthinsurance(4%)andapensionprogrammetargetingclimate-vulnerablepopulations(4%),establishingasteeringcommitteededicatedtoimprovingtheresilienceofthehealthcaresystem(7%),cashtransfers(1%),naturalriskmanagementunits,anddroughtplans(14%).TableC.2.3.Casestudy#3oftrackingadaptationfinanceinprojectsProjectfocusAnchoringtheissuanceofInfrastructureAsset-backedSecurities(IABS)andcontributingSectortothedevelopmentofinfrastructureasaninvestmentassetclassBriefdescriptionofprojectMulti-sectorClimateThroughthisproject,theMDBmakesananchorinvestmentof$80millionintheissuanceofvulnerabilityIABSbyanoperatingplatform(theclientfinancialintermediary—FI)29.Theoperatingplatformcontextisdedicatedtothepurchase,securitisationanddistributionofinfrastructureloansinemergingmarkets.StatementofpurposeorintentThisprojectisinresponsetotheneedtobridgethegapinfinancingcriticalinfrastructureintoreduceclimateemergingmarkets,includinginfrastructurethataimstoreducetheadverseimpactsofclimatevulnerabilitychangeandstrengthentheclimateanddisasterresilienceofcommunitiesandeconomies.Throughthisproject,theMDBseekstofinancethedevelopmentoftheIABScapitalmarketinemergingeconomies.Specifically,asananchorinvestor,theMDBaimstoscaleupprivatefinanceforlow-carbonandclimate-resilientinfrastructuredevelopmentthroughdirectprovisionofcapitalandstrengtheningofmarketpositioningforsuchassets.Duetotheirgeographiclocationandprevailingclimateconditions,anumberofemergingeconomiestargetedbytheFIhavebeenexperiencingchallengesofwatersecurity.Withclimatechange,aprojectedfurtherdeclineinfreshwatersupplyinthesecountriesisexpectedtoexacerbatetheongoingchallenges.Inadditiontoarangeofothermeasures,infrastructuredevelopmentthatwouldhelpprovideadditionalsourcesofwatersupplyisneededtoaverttheprospectofwaterinsecurityinthesehighlywater-constrainedeconomies.TohelpaverttheimpedingdeteriorationofwaterscarcityintheFItargetcountries,theFIhasincludedinvestmentsincriticalinfrastructurethatprovidecleanpotablewaterandsupportfoodsecuritytowater-stressedcommunitiesinitsprojectpipeline,inlinewithitsSustainableFinanceFramework.29TheFIiscommittedtoimplementingaBoard-approvedcorporateclimatestrategyfortransitioningtowardsaParis-alignedpathway.Thestrategyhassetanambitiontoachievingnetzeroby2050andfurtherenhanceclimateriskmanagementanddisclosure,includingreportingunderTCFD.702022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEProjectfocusAnchoringtheissuanceofInfrastructureAsset-backedSecurities(IABS)andcontributingtothedevelopmentofinfrastructureasaninvestmentassetclassProjectactivitieslinkedtoTheMDB’sinvestmentsintheFIwillfocusonthesustainabletrancheofprojects,includingreducingclimatedesalinationplantswithinitspipeline30.Theseplantsarelocatedinagroupofthreehighlywater-vulnerabilitystressedcountriesandprovideanessentialservicetoresidentswithinthecatchmentofeachplant.Independentthird-partyopinionhasverifiedthattheseplantswillcontributetoenhancingTypeoffinancialtheresilienceofvulnerablecommunitiesinthethreetargeteconomies,andarethemselvesinstrumentdesignedandconstructedwithdueconsiderationofphysicalclimaterisksandareabletodeliverEstimationofservicesasexpectedunderachangingclimate.totaladaptationfinance(amountCapitalmarketsthroughtheFIandpercentage)Thetotaladaptationfinanceis$31.5millionrepresenting39%ofMDBinvestmentintheproject,basedonaproportionalapproach.TableC.2.4.Casestudy#4oftrackingadaptationfinanceinprojectsProjectYouthAdaptationSolutionsChallengeSector(s)BriefdescriptionMulti-sector(Agriculture;WasteManagement;WaterSupplyandSanitation;RenewableEnergy;ofprojectSoilandWaterManagement)Climate•Thechallengeisanannualcompetitionthatinvitesyoungentrepreneursandmicro,small,vulnerabilityandmediumenterprisesfromtheregion(50%women-ledenterprises)tosubmitinnovativecontextsolutionsandbusinessesthataredrivingclimatechangeadaptationandresilienceactionandhavepotentialforscale-up.Statementofpurposeorintent•Thisprojectaimstoinspireandsupportthecommercialisationandscalingofclimatechangetoreduceclimateadaptationsolutions,drivenbyyouthentrepreneurs.Thechallengeisopentosolutionsvulnerability(products,services,tools)targetedatclimatechangeadaptationandresilienceacrossclimate-sensitivesectors.•Thegoaloftheprogrammeistosupportyouth-ledenterprisesoperatinginclimateadaptationandresiliencesectorswitha$100000capitalisationgrantperenterpriseanda12-monthacceleratorprogrammealongwithmentorshipandnetworkingopportunities.Theeligibleenterprisesare2+yearsinoperationandviablebusinesses,legallyregisteredandoperatingintheregion,youth-led(agedbetween18-35)andmustbedeliveringclimateadaptationorresiliencesolutionsaddressingreal-lifechallenges.•Youngpeopleintheprojectregionareatthefrontieroftheclimateemergencyandexperiencingclimaterisksfirst-hand.Today’sclimateactionswilldirectlyaffecttheirlives.Climateandenvironmentalhazardsaffectingyoungpeopleintheregionincludeflooding,heatwaves,drought,cyclones,waterscarcityandhighlevelsofpollution.The2022IPCCreportprovidesevidencethattheyouthoftodaywillexperienceextremeweathereventsspirallingoutofcontrolinthefuture,affectingtheirqualityoflife,aswellastheirhealth,well-being,andsecurity.Thereportfurtherflagstheinsufficiencyofcurrentlevelsofadaptation.•Manyyouthsaregrowingupinpartsoftheworldwheretheimpactsofclimatechangewillhithardest.Withanurgentdrivetoacttoavoiddisastrousclimatechange,anincreasingnumberofyoungpeopleareleadingclimateadaptationeffortsintheircommunitiesandregions.Youngclimateentrepreneurshavedevelopedmanyinnovativeadaptationsolutionstobringrealandconcretechangeachievingtripledividends—generatingincomeforthemselves,creatingjobs,andsolvingclimatechallengesatthegrassroots.•TheoverarchingobjectiveoftheYouthChallengeistopromotejobcreationthroughsocialentrepreneurshipandinnovationforactiononclimateadaptationandresilienceintheregion.Itaimstoprepareanewgenerationofyouthforthetransitiontowardsgreenandclimate-resilientdevelopment,aswellastocombatpovertyandimprovethequalityoflifeforyouthintheregion.•Thesolutionsprovidedbytheyoungentrepreneursaddressspecificclimaterisksidentifiedindifferentregionalcontexts.Someofthesolutionsincludedrought-resistantseedlingsthatarehelpingfarmersimproveproductivitydespiteharshclimaticconditions;rooftopfarmingthatiscreatingmoregreenspacesthatcontributetothehealthofthecityecosystemsandartificialintelligence-poweredirrigationsystemsthataresupportingyear-roundproductiontocombatdrought,amongothersolutions.30Thegreenloaneligibilitycriteriafurtherdefinethedesalinationplantstobepoweredbylow-carbonsources.ANNEXC:METHODOLOGIESANDDEFINITIONS71ProjectYouthAdaptationSolutionsChallengeProjectactivitieslinkedto•Thewinningenterprisesprovideclimateadaptationandresiliencesolutionsincriticalsocialreducingclimateandeconomicsectorsaffectedbyclimatechange,includingagriculture;wastemanagement;vulnerabilitywaterresourcesandsanitation;renewableenergyandenergyefficiency;andecosystemrestoration.Typeoffinancialinstrument•Someofthesolutionsincludecreatingsustainableandclimate-resilientaquaticfoodsystemsEstimationofbyleveragingartificialintelligence;propagatingdrought-resistantseedlingstoaddressfoodtotaladaptationinsecurity;leveragingtropicalinsectfarmingtechniquestoconvertfoodwasteintoclimatefinance(amountshock-resistantfoodalternatives;advancingsustainableandcost-effectiveindustrialcoolingandpercentage)processesthatminimisepost-harvestlosses;installingclimate-smartirrigationtechnologyasalternativestorain-fedagriculture;tappingintotheuseofartificialintelligenceanalyticstocapturesoilhealthparameters;andacceleratingtheproductiveuseofclimate-smartagriculturetechnologiesandorganicfertilisersamongsmallholderfarmers,amongmanyothers.GrantThetotalprojectcostwas$4.1million,andtheprojectis100%climateadaptationfinance.ANNEXC.3.JOINTMETHODOLOGYFORTRACKINGCLIMATEMITIGATIONFINANCEForMDBfinancetoqualifyasclimatemitigationfinance,theMDBsapplytheCommonPrinciplesforClimateChangeMitigationFinanceTracking31tovalidatetheirinvestmentasmitigationfinance(the2021updateofMitigationCommonPrincipleswasusedtotrackallMDBmitigationfinanceinthisreport).Thesecommonprincipleshavebeendesignedforuseinex-anteassessmentsandfocusonthetypeofactivityfinanced,andnotonitspurposeortheoriginofthefinancialresources.Thelistofeligibleactivitiesispresentedbysector.Policyactions,technicalassistanceandprogrammesinsupportofeligibleactivitiesarealsofitforpurpose,providedthatthelinktoeligibleactivitiesisclearorsufficientlydemonstrated32.TheresultsoftheassessmentsareappliedforreportingoftheclimatechangemitigationfinanceintheJointReportontheMultilateralDevelopmentBanks’ClimateFinance.Thecommonprinciplesrecognisethatasubstantialcontributiontoclimatechangemitigationcaninvolvethefollowingthreecategoriesofclimatechangemitigationactivities:i.Negativeorverylow-emissionactivities,whichresultinnegative,zeroorverylowGHGemissionsandarefullyconsistentwiththelong-termtemperaturegoaloftheParisAgreement,suchascarbonsequestrationinlanduseorsomeformsofrenewableenergy.ii.Transitionalactivities,whicharestillpartofsystemsemittingmaterialgreenhousegasesbutareimportantforandcontributetothetransitiontowardsaclimate-neutraleconomy,suchasenergyefficiencyimprovementinmanufacturingthatdirectlyorindirectlyusesfossilfuels.iii.Enablingactivities,whichareinstrumentalinenablingotheractivitiestomakeasubstantialcontributiontoclimatechangemitigation,suchasmanufactureofverylow-emissiontechnologies.On18October2021theMDBsandIDFCpublishedanewversionofthecommonprinciples.Thisnewversionofthecommonprinciples,includingthelistofeligibleactivities,wasdevelopedoveraperiodoftwoyears,takingparticularlythefollowingtwoaspectsintoaccount:i.ConsiderationofnewmitigationactivitiesthatarerequiredinordertoachievethestructuralchangesintheeconomypointedoutbytheIPCCasnecessarytoachievethegoalsoftheParisAgreement.ii.Identificationofactivitiesthat,despitereducingGHGemissionsintheshortterm,riskalong-31https://www.eib.org/attachments/documents/mdb_idfc_mitigation_common_principles_en.pdf32Eacheligibleactivityisunderstoodtoincludepolicyactions,technicalassistanceandprogrammescarriedoutinitssupport,whicharenotlistedseparately.Onlypolicyactions,technicalassistanceandprogrammesthatcannotbedirectlylinkedtoeligibleactivitiesdescribedelsewherearelistedseparately.722022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEtermlock-inofemissivetechnologies,therebyunderminingthelong-termtemperaturegoaloftheParisAgreement.Suchactivitiescannotbeconsideredasclimatemitigationfinance.TheMDBsagreedtooperationalisethenewversionofthecommonprinciplesstartingin2021overaperiodoftwoyears,duringwhichtimethelistofeligibleactivitieswillbeusedasanexhaustivelist.Attheendofthetwo-yearperiod,theMDBsandtheIDFCwilladjustthelist,ifrequired,basedontheirrespectiveexperience.Theaimattheendofthistwo-yearoperationalisationperiodistohaveacommonlistofeligibleactivities,consideredanexhaustivelistbyboththeMDBsandtheIDFC.Amajorreviewofthemethodologyisplannedwithinfiveyearsofthepublicationofthenewversionofthecommonprinciples,whilstminoramendmentsmaybemadeonamoreregularbasis.Thesereviewswillaccountfortechnologydevelopmentsthatmayenabledeeperdecarbonisationofeconomicactivities.Thus,thecurrentlistincludessomeactivitiesthatmaynotbeeligibleinthefutureasthetransitiontoaneconomywithnet-zeroGHGemissionsprogresses.Pleaseseethefulllistofthecommonprinciplesandlistofeligibleactivities:https://www.eib.org/attachments/documents/mdb_idfc_mitigation_common_principles_en.pdfTableC.3.1.Casestudy#1oftrackingmitigationfinanceinprojectsProjectfocusProductionofcopperfoil(electricvehiclebatteryparts)fromcopperscrapscontributingtotheelectrificationoftheEuropeantransportsectorandthecirculareconomy.SectorChemicalManufacturingConstructionofagreenfieldcopperfoilmanufacturingplant.ThecopperfoilwillbeproducedBriefdescriptionentirelyfromcopperscrapandusedforproductionofelectricvehicle(EV)batterycathodesinofprojectEurope.(1)ManufacturingClassification(2)Supportforlow-carbondevelopment(asperCommon(3)Projectsthatsupporttheproductionofcomponents,equipmentorinfrastructurededicatedPrinciplesforClimateMitigationexclusivelytoutilisationinrenewableenergy,energyefficiencyimprovementorotherlow-FinanceTracking):carbontechnologies.(1)Sector(accordingtoInvestmentloanTables2-12ofthecommonThetotalamountof$28millionprovidedbytheMDBisaccountedasclimatemitigationfinance.principles)Mitigationoutcomeshavebeenembeddedwiththefollowingactivities:(2)Category•IncreaseincopperfoilproductioncontributingtoincreaseofEVbatteryproductionand(3)EligibleactivityconsequentlyachievingScope3savingsTypeoffinancial•IncreaseinusageofscrapcoppercontributingtothecirculareconomyoftheEVbatterysectorinstrumentMDBownaccountCalculationofmitigationfinance,includingbasis(forexample,eligiblecomponents)Typeofmitigationfinance(ownresources,co-finance)TableC.3.2.Casestudy#2oftrackingmitigationfinanceinprojectsProjectfocusEquityinvestmenttofinancethedeploymentofcutting-edgeelectriccargodronestoSectorprovidelast-miledeliveryservicesforthirdparties.TransportANNEXC:METHODOLOGIESANDDEFINITIONS73BriefdescriptionThereisgrowinginterestinthedronedeliverysectorglobally,withinitialtargetsbeingdeliveryofprojectofurgentmedicalgoods,smallparcels,groceriesandspareparts,particularlyindeeprurallocations.Theprojectsupportsthedevelopment,production,deployment,andoperationofClassificationelectricunmannedaerialvehicles,enablinglast-miledeliveryservicesatacompetitivecost(asperCommonwhilereducinggreenhousegasemissionsandairpollutioncausedbyfossilfuel-basedmeansPrinciplesforoftransport.TheelectriccargodronessupportedbytheequityinvestmenthavesuperiorClimateMitigationperformancecharacteristicsintermsofspeed,range,payloadandredundancy.FinanceTracking):Table11—Research,developmentandinnovation.(1)SectorResearchonordevelopmentofrenewableenergy,energyefficiencyimprovement,low-carbon(accordingtotechnologies,orothertechnologiesinstrumentaltoachievingfulldecarbonisation.Tables2-12ofthecommonEquityinvestmentprinciples)(2)CategoryThetotalamountoffinanceprovidedbytheMDBisaccountedasclimatemitigationfinance,(3)Eligibleactivitysincetheinvestmentistotallydevotedtothedeploymentofcutting-edgeelectriccargodronestoprovidelast-miledeliveryservices.TypeoffinancialinstrumentCo-financewithMDBownaccount.Calculationofmitigationfinance,includingbasis(forexample,eligiblecomponents)Typeofmitigationfinance(ownresources,co-finance)742022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETableC.3.3.Casestudy#3oftrackingmitigationfinanceinprojectsProjectfocusNationalclimatepoliciesSectorBriefdescriptionCross-sectoralactivitiesofprojectTheprogrammewillsupportthecountrytoimplementitsnationalclimatepolicies,includingitsClassificationNationallyDeterminedContribution(NDC),whichaimstopeakgreenhousegasemissionsby2030,(asperCommonandscaleupclimateadaptation,mitigation,anddisasterresilience.TheprogrammewillincreasePrinciplesforandintensifyactionstotransformkeysectorstowardaclimate-resilientandlow-carboneconomy.ClimateMitigationItfocusesonsectorsthatareofnationalpriorityforclimateactions,targetingadaptationinhighlyFinanceTracking):vulnerablesectors(agriculture,naturalresources,andenvironment)andmitigationinemissions-(1)Sectorintensivesectors(energyandtransport).Theprogrammereformareasare:(accordingtoTables2-12ofReformArea1:Strengtheningplanning,financing,andinstitutionallinkagesforclimateaction.thecommonThisreformareastrengthensinstitutionalandplanninglinkagesatthenationallevelandbetweenprinciples)nationalandlocallevels,andenhancestheenablingframeworkforpublicandprivateclimate(2)Categoryfinancing.Policyactionsareexpectedtoresultinmoreclimateactionacrosssectors,drivenby(3)EligibleactivitycoordinatedNDCimplementation,increasedaccountabilityforclimateactioninsectoragenciesTypeoffinancialandstrongercapacityoflocalgovernments.Policyactionsonfinancewillsupportthescalingupofinstrumentdomesticandexternalclimatefinance,andenableactionsthatsupportboththeconditionalandunconditionalcommitmentsoftheNDC.ReformArea2:Enhancingresiliencetoclimateimpacts.Thisreformareaimprovesclimateresilienceinagriculture,naturalresourcesandtheenvironmentbyfocusingonpolicyactionswhichdirectlyaddressthekeyobjectives,outcomesandactivitiesofthefoodsecurityandenvironmentalstabilityprioritiesoftheNationalClimateChangeActionPlan.Thereformswillcontributeto(i)improvedresilienceoffarmingandfishingcommunitiesthroughaccesstoclimateservicesandtechnologies;(ii)improvedclimateresilienceofagriculture,fisheries,andfoodsystems;(iii)enhancedecosystemstabilityandbiodiversity;and(iv)bettermanagedclimaterisks.ReformArea3:Strengtheninglow-carbonpathways.Thisreformareaseekstosupportajusttransitiontolow-carbonpathways,withcleanerenergyandtransportservicesandreducedrelianceonfossilfuels.Thereformmeasuresareexpectedtoleadto(i)increaseduseofrenewableenergyandstorageandincreasedenergyefficiency,(ii)demonstratedcommercialapplicationofnewcleanenergytechnologies,and(iii)improvedaccesstopublictransportationandelectricvehiclesacrossthecountry.Theprogrammeconstitutesthefirstdedicatedclimatechangepolicy-basedloanundertakenbytheMDBandaddressesclimatechangeasitscoreobjective.MITIGATIONSector:Cross-sectoralactivitiesCategory:PolicysupportandtechnicalassistanceforclimatechangemitigationEligibleactivity:National,subnationalorterritorialcross-sectoralpolicyactionsthataimtoleadtoclimatechangemitigationactionsortechnicalsupportforsuchactionsADAPTATIONCross-cuttingsectorsPolicy-basedlendingANNEXC:METHODOLOGIESANDDEFINITIONS75CalculationofTheloanamountwasdividedequallyamongthepolicyactions,allofwhichaddressclimatemitigationfinance,change.Theassociatedamountforpolicyactionsthatareconsideredmitigationactionsareincludingbasis(forcountedasmitigationfinanceandthosethatareadaptationactionsarecountedasadaptationexample,eligiblefinance.Theamountassociatedwithpoliciesthatcontributetobothclimatechangemitigationcomponents)andclimatechangeadaptationweresplitequallybetweenadaptationandmitigationfinance.TypeofmitigationReformArea1,whichfocusesoncross-cuttingplanning,financingandinstitutionallinkages,hasfinancepolicyactionsrelatedto:(i)finalisationoftheupdatedNDCwhichencompassesmitigationand(ownresources,adaptation;(ii)strengtheningofinstitutionalarrangements;and(iii)linkagesbetweennationalco-finance)andlocalgovernmentstoimproveclimate-relatedplanning.Theamountattributedtoeachpolicyactionissplitequallybetweenclimatechangeadaptationandmitigationfinance.AllpolicyactionsunderReformArea2focusonincreasingresilienceoftheagriculturesector,environmentandnaturalresources.Estimatedclimatechangeadaptationfinanceis100%oftheamountattributedtoeachofthefivepolicyactionsunderthisreformarea.AllofthefourpolicyactionsunderReformArea3focusonreducinggreenhousegasemissionsandareclassifiedasclimatechangemitigation.Estimatedclimatechangemitigationfinanceis100%oftheamountattributedtoeachpolicyaction.Adaptationfinance:$133.929millionMitigationfinance:$116.071millionMDBownaccountTableC.3.4.Casestudy#4oftrackingmitigationfinanceinprojectsProjectfocusImprovingwaterqualityandexpandingsewagecollectionandtreatmentSectorWatersupplyandwastewaterBriefdescriptionofprojectTheproject’sinvestmentsfocusonimprovingwaterqualityandexpandingsewagecollectionandtreatmentinthepoorestandmostheavilypopulatedneighbourhoodsofthecity,aspartoftheRiverClean-UpProgramme.Proceedswillbeallocatedtoprojectsrelatedto(i)theprogrammetocleanuptheriverinthecity;(ii)improvedsanitationservicesincoastalregions;and(iii)improvedwatersupplyinmunicipalitiesinthecoastalregionandtheoutskirtsofthecity.Therivercrossesthroughthecapitalcityandhasitsconfluencewithanotherriver,whichcomprisesseveralreservoirsalongitscourse.Itisconsideredoneofthemostheavilypollutedriversinthecountryandhaslongsufferedfromanthropogenicpollutioncausedbynon-pointdomesticsewageloadthatisreleaseddaily(withoutanytreatment)intothevarioustributaries.Thisresultsindisruptionstothenaturallevelsofoxygenintheriverasexplainedbytheappearanceofalgaeblooms,aphenomenonthatindicateseutrophicationofthewaterbody.TheRiverClean-upProgrammeisalreadyensuringtheimprovementofoxygenationandreductionoforganicmatterbyincreasingsewerconnectionstohouseholdssothatnoclandestinesewagewillbedumpedintotheriver,whichshouldincreasetheamountofoxygeninthewater,reduceanaerobicconditionsandreduceGHGs,andmonitoringtheBOD(biochemicaloxygendemand)valuestoensuretheydropbelowtherequirementsforthewatertobeodourless,improveitsturbidityandallowaquaticlife.Theprojecthassignificanthumanhealth,environmentalandbiodiversitybenefitsinadditiontoclimatemitigationandadaptationbenefitsandhasbeenstructuredasablueloan.Theblueloanframeworkreviewedbyanexternalsecondopinionproviderispubliclyavailablewitheligibleactivitiessuchaswatersupplyinvestmentsintheresearch,consulting,design,development,andimplementationofefficientandcleanwatersupplyandwatersanitation:investmentsintheresearch,consulting,design,development,andimplementationofwatertreatmentsolutionsandcommitmenttopubliclyreportimpactfromtheprojects.762022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEClassificationSector:Watersupplyandwastewater(asperCommonCategory:EnergyandresourceefficiencyandGHGemissionreductioninwatersupply,andPrinciplesforwastewatermanagementClimateMitigationEligibleactivity:GreenfieldandbrownfieldprojectsthatpromoteimprovedoperationandFinanceTracking:maintenancetoreducewaterlosses,promoteenergysavings,andmeetorexceedwastewater(1)Sectortreatmenttargets(accordingtoTables2-12ofInvestmentloanof$145millionthecommonprinciples)Basedontheuseofproceeds,theoverallinvestmentofthecorporateloanamountsto$145(2)Categorymillionforthefinancingof13watersupplyandsanitationprojects.Fourprojectsarepartofthe(3)EligibleactivityRiverClean-UpProgrammeclimatemitigationfinanceduetotheircontributiontomitigationTypeoffinancialgoals,withwastewatertreatmentconnectionsfor118000householdstodivertuntreatedinstrumenteffluentawayfromtheriverwhichshouldincreasetheamountofoxygeninthewater,reduceCalculationofanaerobicconditionsandreduceanestimated4290tonnesofCO2eqperyearthroughimprovingmitigationfinance,eutrophicationofthewaterbody.Additionalemissionreductionscomefromreducingmethaneincludingbasis(foremissionsreleasedbythepollutedriver,butthesehavenotbeencalculated.Theclimatefinanceexample,eligiblepercentagewascalculatedbydividingthesumoftheinvestmentsinthefourprojectsqualifyingcomponents)formitigationfinancebythetotalinvestment.Theseprojectsaccountfor$58millionofthetotalinvestmentof$145million,withtheclimatemitigationfinancepercentageof40%(58/145).TypeofmitigationfinanceClimateadaptationfinancerelatedtoadaptationcomponents(reducingtheriskofdroughtand(ownresources,watershortages,andincreasingwaterresilienceintheconsideredareastolimittheimpactofco-finance)climatechange)wasassessedseparately.MDBownaccountANNEXC.4.FINANCETHATBENEFITSBOTHADAPTATIONANDMITIGATIONTheMDBsidentifysomecomponentsand/orsub-components,orelementsorproportionsofprojects,whichhelptoreduceGHGemissionswhilealsoreducingclimatevulnerability,therebydeliveringdualbenefitsofmitigationandadaptation.Wherethesameproject,sub-projectorprojectelementcontributestobothmitigationandadaptation,theMDB’sinternalprocesseswilldeterminewhichproportionstocountasmitigationorasadaptationsothattheactualfinancingwillnotbedoublecounted.SomeMDBsreportprojectswherethesamecomponentsorelementsorproportionscontributetobothmitigationandadaptationasaseparatecategory(seeTableC.4.1).TheMDBsworkcontinuouslytoimproveworkonthebestreportingmethodforsuchprojects.For2022,AIIB,EBRDandIDBGhavetrackeddual-benefitfiguresseparately,whileotherMDBshavesplitthedual-benefitfinancebetweenadaptationandmitigation,accordingtotheirinternalsystems.Thereisnodoublecountingineitherapproach.TableC.4.2providesgreaterdetailontheinstrumenttypesusedinadaptation,mitigationanddual-benefitfinance.TableC.4.1.MDBadaptation,mitigationanddual-benefitclimatefinance(in$million)MDBAdaptationfinanceMitigationfinanceDual-benefitfinanceTotal19371272391AIIB3276451113675831116966EBRD1943152189105032917165IDBG1666118142759IsDB406Total2592Note:Numbersmaynotaddupduetorounding.ANNEXC:METHODOLOGIESANDDEFINITIONS77TableC.4.2.MDBadaptation,mitigationanddual-benefitclimatefinance,byinstrumenttype(in$million)InstrumenttypeAdaptationfinanceMitigationfinanceDual-benefitTotalfinanceInvestmentloan1554351784152268850546410779243Policy-basedfinancing270225471761132261562738Grant35481586216055416245953Guarantee4211533023372370612614Equity1827597296199453Lineofcredit513Results-basedfinancing804Other183Total23733Note:1.Numbersmaynotaddupduetorounding.2.()Seefootnote1forFigures1aand1b.TableC.4.3.Casestudy#1oftrackingadual-benefitprojectProjectfocusImprovequalityofeducationSectorEducationBriefdescriptionofprojectTheobjectiveistosupportthetransformationoftheeducationsystemtoimproveitsrelevance,quality,andinclusiveness.Thespecificobjectivesare:(i)developamodernisedcurriculumClassification:frameworktoteachstudentsrelevantskills;(ii)increaseinclusivenessofstudentswithspecial(1)mitigationandneeds;(iii)createapositivelearningenvironmentbyupgradingphysicalandtechnologicalresilient(2)adaptationandsustainableinfrastructure;and(iv)improvesectormanagement.financeMitigation:Buildings,PublicInfrastructureandEnd-UseEnergyEfficiencyCalculationofAdaptation:Energy,transportandotherbuiltenvironmentinfrastructureclimatefinance,Dual:M.Cross-SectoralActivitiesA.Othersectors–educationincludingthebasis(forTotal:$200millionexample,eligible•Component1:Curriculumreform($4.8million).Amongstotherchanges,thenewmaterialwillcomponents)includethemesofblueeconomy,skillsforgreenjobs,andclimatechange).OfthisportionTypeoffinancial$2.43millionisrelatedtoclimatefinanceinvestments.instrument•Component2:Inclusiveeducation($1.2million).Noclimatefinanceinthiscomponent.Typeoffinance•Component3:Upgradingofphysicalanddigitalresilientandsustainableinfrastructure(ownaccount,($9.29million).Theobjectiveistoupgradethephysicalanddigitalinfrastructureintenco-finance)primaryschoolstomeetsustainableandresilientbestpracticestandardsandbuildingcoderequirements,including:(i)cost-effectivemeasuresofenergyandwaterefficiencyfollowingtheEDGEguidelines.Ofthisportion$3millionisconsideredclimatefinance.•Component4:Improvedsectormanagement($2million).Noclimatefinanceinthiscomponent.•Additionalmanagementfees.($2.6million).Totalclimatefinance:27%,ofwhich12.15%isdual.InvestmentloanMDBownaccount782022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCETableC.4.4.Casestudy#2oftrackingadual-benefitprojectProjectfocusUpgradingofinformalsettlementsandintegratedurbandevelopmentSectorUrbanBriefdescriptionTheoveralldevelopmentobjectiveoftheprojectistocontributetoaNationalZeroSlumofprojectProgrammeandHousingStrategiesbyimprovingthelivelihoodofpoorhouseholdsininformalsettlementneighborhoodsthroughtheupgradingofurbaninfrastructure,accesstodecentClassification:housingforall,andeconomicempowerment.TheprojectisalignedwiththeNationalUrban(1)mitigationandDevelopmentMasterPlan,whichincludesprovisionstomakethecityandneighbourhoods(2)adaptationresilienttoclimatechange.financeThecountryisconsideredoneofthemostvulnerabletoclimatechangeandclimate-relatedCalculationofeffects,includingdrought,hightemperatures,risingsealevels,flashfloodsandsalinisationofsoilclimatefinance,andwater.Theinformalsettlementsincludedintheprojectarelocatedinthecountry’scapitalcity,includingtheclosetothecoast,wheretheyareparticularlyexposedtowaterlevelriseandflooding.Theprojectbasis(forsupportsthecountry’sNDC,withcomponentsalignedtonationalmitigationandadaptationgoals.example,eligiblecomponents)Thisprojectcontainscomponentscontributingtobothmitigationandadaptationfinance.TypeoffinancialTotalprojectfinance:$17.84million.Climatefinance:$2.2million,or15%.instrumentTypeoffinanceProjectcomponentscontributingtoclimatefinanceinclude:(ownaccount,•Constructionofdrainagesystemtoalleviatefloodingandwaterlevelrise;co-finance)•Solarlightingforpublicareasandgreenspaces;•Developinganewmasterplanforthecapitalcity,withanemphasisonclimateresilience;and•Integratinglow-carbonprinciples(suchasenergyefficiency)intonewhousingforlow-incomehouseholds.InvestmentloanMDBownaccount$15millionGovernmentfinancecontribution:$2.84millionTableC.4.5.Casestudy#3oftrackingadual-benefitprojectProjectfocusIntegratedRural(Sustainableinfrastructure)DevelopmentSectorBriefdescriptionRuralDevelopment,Agriculture,WaterandSanitation/infrastructure/Energy(REandEE)ofprojectTheprojectislocatedinadouble-landlockedcountrywithpopulationgrowthatapaceof2%Projectapproach,perannumsince2017.Thecountryisalsofacingsloweconomicgrowth.Povertyincidencescomponentsandareprevalentinruralareas;around79%ofthepoorin2018wereruralpopulation.Utilitysub-componentinfrastructureinruralareashasexceededitslifespan.Nearlytwo-thirdsoftheruralpopulationmaketheirlivingfromtheagriculturesector,andtheclimaticconditionofthecountryiscausingthewithdrawalofbothfreshwaterandwaterforirrigation.Theprojectaimstoimprovethelivingstandardsandprosperityoftheruralpopulationwithaccesstoqualityandresilientinfrastructure,empoweringandstrengtheningtheruralcommunitiesintheareaofagricultureresilientpractices.Theprojectwillbeimplementedusingthecommunity-drivendevelopmentapproach(CDD),andallinfrastructurewillhaveclimate-resilientaspectsandwillapplyenergy-efficient,resources-savingtechnologies,sustainability,anddisasterriskmitigationmechanisms.TheprojectconsistsofthefollowingcomponentsandactivitiesfinancedbytheMDB:(1)constructionofbasicinfrastructure($232million)(2)consultancyservicesforruralinfrastructuredevelopment:(i)Capacitydevelopmentforstakeholders;and(ii)Communitydevelopmentplans(CDP)forstakeholders($15million)ANNEXC:METHODOLOGIESANDDEFINITIONS79ProjectfocusIntegratedRural(Sustainableinfrastructure)DevelopmentClassification:(1)mitigationandMitigationfinance(positivelistofeligibleactivities)(2)adaptation1.Energy;1.1.Renewableenergygeneration.finance4.Agriculture,forestry,landuse,andfisheriesCalculationofclimatefinance,6.Solidwastemanagementincludingthebasis(for•Adaptationfinance:Transportbuiltenvironmentandinfrastructure.Institutionalcapacityexample,eligiblesupportortechnicalassistance.Otheragriculturalandecologicalresources.components)•Climatevulnerabilitycontext—Desktopclimateriskscreening,on-sitetechnicalTypeoffinancialassessment,consultationwithlocalstakeholders.instrumentTypeoffinance•TheprojectwillcontributedirectlytoachievingSDG2ZeroHungerbyimprovingfoodsecurity(ownaccount,measuresandSDG6WaterandSanitation.co-finance)•Projectactivitieslinkedtoreducingclimatevulnerabilityinclude:•Buildingresilienceinruralcommunitiesbyadoptingresilientagriculturalpractices•Integratingresilient(andlow-carbon)elementsinnewinfrastructureandimprovementofoldinfrastructureTheclimatefinancingof$232millionwillcover•$217million—Basicruralinfrastructure:(i)potablewater,(ii)sanitationsystems,(iii)socialamenities,(iv)marketinfrastructurethatwillfacilitatethedevelopmentoftheagriculturalvaluechain.•$15million—Marketinfrastructure,whichincludestheuseofsustainablebuildingmaterials,renewableenergysources(solar),andenergyefficiencyequipment.•Consultancyservicesforruralinfrastructuredevelopment.InvestmentloanTotalprojectcost:$293.5million•MDBownaccount$260million•Counterpartfunding$33.5millionTableC.4.6.Casestudy#4oftrackingadual-benefitprojectProjectfocusWatersupplyandwastewatermanagementSectorWaterClassification:(1)Mitigation:(1)mitigationandWatersupplyandwastewater(2)adaptation(2)Adaptation:financeWaterandwastewatersystems802022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEProjectfocusWatersupplyandwastewatermanagementCalculationofclimatefinance,Theprojectcontributestoreducingclimatevulnerabilitybyimprovingaccesstoresilientwaterincludingtheandsewageservices.Theclimateco-benefitoftheenvisagedactivitiesisestimatedat50%ofthebasis(forprojectcost.example,eligiblecomponents)Climatefinanceamount:$124.20million,50%oftotalfinancingfromtheBank.TypeoffinancialThecomponentsoftheprojectarethefollowing:instrument1)InvestmentinWaterSupplyInfrastructure($160.7million)Typeoffinance2)InvestmentinSewageInfrastructure($94.3million)(ownaccount,3)ProjectImplementationandManagementSupport($13.9million)co-finance)Thisprojectconstitutesthesecondphaseofagreaterefforttoextendwaterandsanitationservicestoallintheregion;thissecondphaseprojectsupportsinvestmentstoextendandimprovewatersupplyandsewageservicestocomprehensivelycovertheremainingdistrictsoftheregion.Asfortheadaptationconsiderations,theprojectwillincludemeasurestoreducethepressureonscarcewaterresources:(i)adoptsmartmeteringforproductionanddistributionfacilitiesthatallowsremotereadingwithautomaticdatatransmission,whichenablestheutilitymanagertorunregularwaterlossreductioncampaigns;(ii)adoptmechanicalhouseholdmeters,whichinturnwillhelptopromotewatersavings;(iii)reducewaterlossesthroughthereplacementofobsoletewatersupplynetworks;and(iv)includeoptionaltertiarytreatmentfacilitiesforreusepurposes,whichcouldcontributeadditionaladaptationbenefits.Asforthemitigationconsiderations,adoptingmeasurestoimproveenergyefficiencyofthewatersupplyandsanitationfacilitiesareincludedintheproject(mainlythroughreplacementofpumpsandtreatmentplantswithenergy-efficientoptionsanddesigns),whichwillalsocontributetoreducinggreenhousegasemissionsduringoperation.Atthedetaileddesignstage,theplannedwatersupplyandsewageinfrastructurewillbefurtheroptimisedconsideringclimatechangemitigation(throughenergyefficiencytechnicalsolutions)andclimatechangeadaptation(suchaswaterlossreduction,considerationofwaterreuse)andtheclimateco-benefitwillbeconfirmed.InvestmentloanMDBownaccountTableC.4.7.Casestudy#5oftrackingadual-benefitprojectProjectfocusIntroductionofclimatesmartfarmingpracticesSectorAgricultureBriefdescriptionofprojectTheprojectconsistsoffinancingtheworkingcapitalneedsofacommoditytrader,tosupportprocurementactivitiesincludingpre-financingofolivefarmers,capacityincreaseandClassification:modernisationoftheprocessingplants,biomasscombinedheatandpower(CHP)investments(1)mitigationandandothersmallcapexinvestments.Theprojectwillintroducemodernsustainableandclimate(2)adaptationsmartfarmingpracticestoimproveclimateresilienceandreduceenvironmentalimpact(GHGemissions,fertiliserandpesticides)fromfarmingactivitiesandsupportstheuptakeofrenewablefinanceenergytechnologies.(1)Mitigation:Energy—Solar-poweredelectricitygeneration(2)Adaptation:Cropandfoodproduction—PrimaryagricultureandfoodproductionANNEXC:METHODOLOGIESANDDEFINITIONS81ProjectfocusIntroductionofclimatesmartfarmingpracticesCalculationofMDBprovidedaseniorloanintheamountof$50million.climatefinance,includingtheMitigation:Theinvestmentof$6.1million(13%ofthetotalinvestmentamount)willbeprovidedtobasis(forfinanceinstallationofaphotovoltaicsystemandanewbiomassCHPfacilityexample,eligiblecomponents)Adaptation:Theinvestmentof$3.2(7%ofthetotalinvestmentamount)towardsprocurementofolivesinthecountrywillcontributetoenhancingclimatechangeresilienceoftheolivesupplyTypeoffinancialchain.Aspartofthistransaction,thecompanywilldevelopandimplementasupplychaininstrumentengagementprogrammeandassociatedmonitoring,reportingandverification(MRV)systemtoTypeoffinancesupportfarmersintheadoptionofclimatesmartfarmingpracticesthatwillimprovetheresilience(ownaccount,oftheirproductiontoclimatechange.Climatechangeimpactonoliveproductioninthecountryco-finance)willbeanalysed,includingolivequantityandquality,wateravailabilityandquality,thepresenceofpests,diseasesandpollination.Climatesmartpracticeswillbeidentifiedand,inconjunctionwiththeolivefarmingtrainingacademyestablishedaspartofthetransaction,thecompanyanditssupplierswillbeprovidedwithknow-howonclimatechangeresilientandlowenvironmentalimpactagriculturalpracticesandtoolstobetterassessandmonitorresourceefficiencyandenvironmentalperformanceofproduction.InvestmentloanMDBownaccountANNEXC.5.TYPESOFINSTRUMENTSThetypesoffinancialinstrumentcontainingclimatefinanceasreportedfor2022includethefollowing:a)Advisoryservices:MDBadvisoryservicesincludeadvisingnationalandlocalgovernmentsaswellasprivatesectorplayersonavarietyoftopics,forinstancehowtoimprovetheirinvestmentclimateandstrengthenbasicinfrastructure.TheMDBtracksandreportsthecostsofmanagingadvisoryprogrammes,whichmayconsistofstafftime,studies,andtrainingwithclients.Similartoinvestments,someprogrammesare100%climate-relatedandsomehaveaclimatecomponenttrackedintheoverallprogrammebudget.b)Equity:Ownershipinterestinanenterprisethatrepresentsaclaimontheassetsoftheentityinproportiontothenumberandclassofsharesowned.c)Grants:Transfersmadeincash,goodsorservicesforwhichnorepaymentisrequired.Grantsareprovidedforinvestmentsupport,policy-basedsupportand/ortechnicalassistanceandadvice.d)Bond:Atypeofbond,theissuanceofwhichisdonebyaclientandsupportedbyanMDB,wheretheproceedsareappliedexclusivelytofinancingorrefinancing,inpartorinfull,newand/orexistingclimateprojects.OnlythepercentageofproceedsthatareusedforactivitiesincludedinthejointMDBmethodologyfortrackingclimatefinancecountasclimatefinance.e)Guarantees:GuaranteesareinstrumentsprovidedbyanMDBtocovercommercialandnon-commercialrisk.Guaranteessupportprivatesectorinvestments,commercialborrowingbysovereignorstate-ownedenterprises,and/orcommercialborrowingbythesovereignforbudgetfinancingandtosupportreformprogrammes.Guaranteesareextendedforeligibleprojectsthatenablefinancingpartnerstotransfercertainrisksthattheycannoteasilyabsorbormanageontheirown.Guaranteescoverequityandawidevarietyofdebtinstrumentsandsupportfinancialsectorprojects(includingthoseofcapitalmarketinvestmentsandtradefinanciersandnon-financial-sectorbusinessactivitiescorrespondingtoactivitiesacrosssectors).822022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEf)Investmentloans:Loansaretransfersforwhichrepaymentisrequired.Investmentloanscanbeusedforanydevelopmentactivitythathastheoverallobjectiveofpromotingsustainablesocialand/oreconomicdevelopment,inlinewiththeMDBs’mandates.ProceedsusedforactivitiesincludedinthejointMDBmethodologyfortrackingclimatefinancecountasclimatefinance.Refinancing:Refinancingisthereplacementofanexistingdebtobligationwithanotherdebtobligationunderdifferentterms.Refinancingcanbeclassifiedasclimatefinancesubjecttothefollowingterms:•Refinancingofassetsthathavereachedfinancialclosurefortheentiretermoftheprojectorthathavepassedthebreak-evenpoint,providedthattheclientcommitstooriginatingnewclimatedealsforthatamountwithinthenext24months.•Refinancingofassetswherefinancialclosurehasnotyettakenplace,orwheretheprojecthasnotyetbeenfullyconstructedandisnotyetoperational.•Bringinginadditionallong-termfundstoreplaceshort-termbridgeloansorstrengtheningthefinancialtermsoftheclimate-relatedassetthroughlong-termloanswithbettertermsthanthoseofpreviousloans(forexample,theycorrectamismatchofmaturity,adjustthecostsofassetconstruction,reduceexchangerateimpact,replaceexpensivedebt,andsoon).•Refinancingclimatefinanceprojectsthathavealreadybeenconstructedorarealreadyoperationalbuthavenotpassedthebreak-evenpoint(forexample,recentlybuiltsolarprojects).Thebreak-evenconditionsareconfirmedbytheinvestmentteam.Workingcapital:Workingcapitalisfinanceprovidedforoperationalexpenditures.Workingcapitalisconsideredtobeclimatefinanceifitleadsto,enablesorsupportstheimplementationandoperationofactivitiesincludedinthejointMDBmethodologyfortrackingclimatefinance.g)Linesofcredit:Linesofcreditprovideaguaranteethatfundswillbemadeavailablebutnofinancialassetexistsuntilfundshavebeenadvanced.ClimatefinanceistheproportionofthecreditlinethatiscommittedtoactivitiesdefinedaseligibleintheMDBs’climatefinancetrackingmethodologies.h)Policy-basedfinancing(PBF):Financingforapublicborrowerthathelpstheborrowertoaddressactualoranticipatedrequirementsfordevelopmentfinanceofdomesticorexternalorigins.Policy-basedfinancingsupportsaprogrammeofpolicyandinstitutionalactionsforaparticularthemeorsectorofnationalpolicy.Whileitdoesnotusethecostestimationapproachforeachpolicyaction,disbursementsofPBFareconditionalontheborrowerfulfillingitspolicycommitmentsinthelendingagreement.Theproportionofthispublicfinancingthatisreportedasclimatefinanceisthesameastheproportionoftheclimate-related“prioractions”agreedinordertoallowthepolicy-basedfinancingtoproceed.Forexample,ifoneinthreeprioractionsareclimate-related,one-thirdoftheresultingpolicy-basedfinancingwouldbecountedasclimatefinance.i)Results-basedfinancing(RBF):Results-basedfinancingdirectlylinksthedisbursementoffundstomeasurableresultsinagovernment-ownedprogramme.RBFaimstoincreaseaccountabilityandincentivesfordeliveringandsustainingresults,improvetheeffectivenessandefficiencyofgovernment-ownedsectorprogrammes,promoteinstitutionaldevelopmentandenhancetheeffectivenessofdevelopment.ProceedsusedforactivitiesincludedinthejointMDBmethodologyfortrackingclimatefinancecountasclimatefinance.ANNEXC:METHODOLOGIESANDDEFINITIONS83ANNEXC.6.POST-2020TARGETSRELATEDTOTHEJOINTMDBCLIMATEFINANCETRACKINGMETHODOLOGYMDBPost-2020targetsrelatedtothejointMDBclimatefinancetrackingmethodologyAfDBADBClimatefinancewillbe40%ofthetotalannualapprovals,outofwhichatleast50%isadaptationfinance(ClimateChangeActionPlan(2020-2025))AIIBEBRDDoublingofclimatefinanceto$25billionfortheperiod2020-25,givingprioritytoadaptationfinance.EIBSource:TheAfricanDevelopmentBankpledges$25billiontoclimatefinancefor2020-2025,doublingitscommitmentsIDBGBy2030,atleast75%ofthenumberofitscommittedoperations(onathree-yearrollingaverage,IsDBincludingsovereignandnon-sovereignoperations)willbesupportingclimatechangemitigationandNDBadaptation.ClimatefinancefromtheADB’sownresourceswillreach$80billionfortheperiod2019–30.WBGIn2021,ADBelevateditsclimatefinanceambitiontoreach$100billion,upby$20billion,by2030.Sources:Strategy2030:AchievingaProsperous,Inclusive,Resilient,andSustainableAsiaandthePacificNewsRelease:ADBRaises2019–2030ClimateFinanceAmbitionto$100BillionMedium-termtargets:65%ofthenumberofoperations(onathree-yearrollingaverage)and$35billionfortheperiod2019-24.Source:ADBCorporateResultsFramework,2019–2024:PolicyPaperReflectingitscommitmenttosupporttheParisAgreement,AIIBwillaimtoreachorsurpassby2025a50%shareofclimatefinanceinitsactualfinancingapprovals.Thebankcurrentlyestimatesitscumulativeclimatefinanceapprovalstobe$50billionby2030.Source:AIIBCorporateStrategy:FinancingInfrastructureforTomorrow,AIIBtoFullyAlignwithParisAgreementGoalsbyMid-2023,CurrentlyprojectsUSD50billioninvestmentforclimatefinanceby2030Greenfinanceistoaccountformorethan50%oftotalannualEBRDinvestmentby2025.TheEBRD’sGreenEconomyTransition(GET)approachfortheperiod2021-25ishelpingeconomieswheretheEBRDoperatestobuildgreen,low-carbonandresilienteconomies.Thenewapproachsetsagreenfinancetargetof50%ofallEBRD’sAnnualBankInvestmentby2025.Thisgreenfinanceiscomposedofclimatefinanceforbothmitigationandadaptationaswellasfinanceaddressingotherenvironmentalobjectives.TheEBRDdoesnothaveseparatetargetsforclimateaction.Nevertheless,itexpectsthatthebulkofthefinancewillbeclassifiedasclimatefinanceunderthejointMDBapproach,inlinewiththeEBRD’scurrentinvestmentfocus.Forthepreviousperiod,2016-20,cumulativeclimatefinanceaccountedforapproximately95%ofthereportedgreenfinance.Source:https://www.ebrd.com/what-we-do/get.htmlTheEIBwillgraduallyincreasetheshareofitsfinancingdedicatedtoclimateactionandenvironmentalsustainabilitytoexceed50%ofitsoperationsin2025.From2021,theEIBwilldeliveragainstatargetthatcomprisesbothclimatefinanceandenvironmentalsustainabilityfinance.Basedon2021and2022data,climatefinancecomprisesapproximately95%ofthevolumereportedagainstthetarget.Additionally,underourAdaptationPlan,adaptationfinanceissettoincreaseto15%ofclimatefinanceby2025.Sources:TheEIBGroupClimateBankRoadmap2021-2025TheEIBClimateAdaptationPlan:SupportingtheEUAdaptationStrategytobuildresiliencetoclimatechangeClimatefinanceinIDBGroupoperations(ofclimatefinanceapprovalsasapercentageofallfinancingcommitmentsfor2020-23)is≥30%(annualfloor).Note:IDBInvestreportsatthelevelofclosings(notapprovals).Source:https://crf.iadb.org/enTheIsDBiscommittedtoaclimatefinancetargetof35%oftotalfinancialcommitmentsby2025.This35%climatefinancetargetexcludesoperationsofIsDBGroupmembersincludingtheIslamicCorporationfortheDevelopmentofthePrivateSector(ICD),theInternationalIslamicTradeFinanceCorporation(ITFC)andtheIslamicCorporationfortheInsuranceofInvestmentandExportCredit(ICIEC).Source:IsDB2020-2025ClimateActionPlanTheNDBaimstodirect40%oftotalapprovalstoprojectscontributingtoclimatechangemitigationandadaptation,includingenergytransition,overtheperiod2022-2026.Source:https://www.ndb.int/wp-content/uploads/2022/07/NDB_StrategyDocument_eVersion_07.pdfTheWBGannouncedatargetforanaverageof35%ofitsfinancingtobeclimatefinanceovertheperiod2021-25.50%ofIBRDandIDAclimatefinancingwillsupportadaptationandresilience.The35%targetisasignificantincreasefromthe26%achievedonaverageovertheperiod2016-20andanevenlargerincreaseindollartermsastheWorldBankGroup’stotalfinancinghasalsoexpanded.Source:https://openknowledge.worldbank.org/handle/10986/35799842022JOINTREPORTONMULTILATERALDEVELOPMENTBANKS’CLIMATEFINANCEEuropeanInvestmentBank98-100,boulevardKonradAdenauerL-2950Luxembourg+3524379-22000www.eib.org–info@eib.org©EuropeanInvestmentBank,10/2023EN
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