This page is part of the E3G Public Bank Climate Tracker Matrix, our tool to help you assess the Paris alignment of public banks, MDBs and DFIs.
African Development Bank
Non-fossil to fossil energy ratio and scaling up climate investment in all sectors
| Paris alignment | Reasoning |
|---|---|
| Some progress | For every $1 the AfDB provides to fossil fuels, $2.5 goes to renewables & $3.6 goes to T&D between 2016-2019. |
Explanation
The African Development Bank (AfDB) has seen a reduction in its ratio of renewable energy lending compared to fossil fuel lending due to an increase in fossil fuel financing in 2019.
For every $1 the AfDB provides to fossil fuels, $2.5 goes to renewables & $3.6 goes to T&D between 2016-2019.
Mitigation financing has remained constant and adaptation financing has seen a large uptick. In 2017, the AfDB stated that 100% of energy lending went towards renewable energy.
Oil Change International (2018) Shift the Subsidies database
Joint Report on Multilateral Development Banks Climate Finance (2019,2018,2017,2016,2015,2014,2013)
This work is funded by Good Energies Foundation.
Last Update: July 2022