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.
| Paris alignment | Reasoning |
|---|---|
| Unaligned | For every $1 the IBRD & IDA provide to fossil fuels, $1.5 & $1.3 goes to renewables & $1 & $2.8 goes to T&D respectively, between 2016-2019. |
Explanation
For every $1 the IBRD & IDA provide to fossil fuels, $1.5 & $1.3 goes to renewables & $1 & $2.8 goes to T&D respectively, between 2016-2019. This is a slight improvement on the figures for 2016-2018.
The World Bank has met its internal climate finance target of 28% by 2020, and has now adopted a 35% target for 2025.
The World Bank has seen a large increase in adaptation financing as a percentage of its total portfolio. In 2020, adaptation financing almost equalled the level of mitigation financing at the World Bank.
Recommendation: Scale up climate investment in the energy sector to ensure fossil fuel lending is at zero across a 3-year period.
Oil Change International (2018) Shift the Subsidies database
Joint Report on Multilateral Development Banks Climate Finance (2019,2018,2017,2016,2015,2014,2013)
World Bank (2020) World Bank Group Announces Ambitious 35% Finance Target to Support Countries’ Climate Action
World Bank (2019) World Bank Climate Finance
This work is funded by Good Energies Foundation.
Last Update: July 2022