African Development Bank

Non-fossil to fossil energy ratio and scaling up climate investment in all sectors

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.

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Some progressFor 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.

 

                           

OECD (2018) OECD DAC Recipient Perspective – Climate Finance
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