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E3G Public Bank Climate
Public and Development Banks have a critical role to play in ensuring a sustainable COVID-19 recovery. They are responsible for delivering $2.3 trillion in global finance annually. PDBs oversee 10% of total finance around the world.
In order to ensure a safe climate for all, it is critical these institutions align their lending with the Paris Agreement on climate change. Many have already committed to do so.
Use our interactive tool below to find out how the most well-known public banks, including Multilateral Development Banks such as the World Bank, are mainstreaming climate change into their work.
This tool covers the following banks:
Our detailed methodology for assessing Paris Agreement alignment at public banks shows that no Multilateral Development Bank is yet on track to a climate safe world. Each bank should look to adopt the best practice from its peers. Fossil fuel exclusions are a clear priority, as are greenhouse gas accounting, transparency and the integration of climate in transport, energy, water and urban strategies.
The counter-cyclical role of public banks – the ability to provide lending in the event of economic shocks – means they have the power to shape the course of the recovery from the current economic crisis.
Our Matrix is designed to provide shareholders, the banks themselves and civil society with a shared understanding of how to accelerate the transformation of each bank into a climate champion. It aims to translate the technical and obscure into a simple, easy to understand traffic light system.
The Matrix will be regularly updated to reflect changes at each bank and expanded to include more public banks, development finance institutions and export credit agencies.
The metrics or criteria have been categorised using the six ‘building blocks’ of Paris alignment as set out by the Multilateral Development Banks in late 2018: mitigation, adaptation, climate finance, policy support, reporting and internal activities. National development banks and European development finance institutions have similar approaches.
If you have any comments on this Matrix tool, please get in touch with the team at email@example.com.