October 2017    
Greening finance flows: are development banks progressing? 

Dear reader,

This week sees the annual meetings of the World Bank Group and the International Monetary Fund. It also marks the launch of two new briefings – by E3G and Oil Change International – that show, when it comes to scaling up climate finance, the development banks are far from making sufficient progress. The briefings are part of The Big Shift Campaign, a global effort composed of dozens of civil society organisations that encourage government-backed multilateral development banks to reinforce the aims of the Paris Agreement and commit to a shift from fossil fuel finance to clean energy finance.

I am pleased to be in Washington D.C. this week, taking part in a variety of activities, attending World Bank Annual Meetings and speaking about E3G’s work on greening financial flows and sustainable infrastructure. In fact, just last night President Jim Yong Kim committed the World Bank to report on portfolio emissions from next year. This was the first ask from the Big Shift Global campaign. Hopefully, the rest of the week will see more positive announcements.

Thanks for reading,

Helena Wright

Senior Policy Advisor 

   
Renewable energy thinkstockphotos Briefing Paper — 12 October 2017
Greening Financial Flows: what progress has been made in the development banks?
by Helena Wright, Ingrid Holmes, James Hawkins
This briefing compares progress among the development banks in terms of their green to brown ratio. Interestingly, analysis finds some fossil finance is actually being counted as climate finance. Find out more here.

   
Flickr jonathan kos-read Commentary — 10 October 2017
How Walmart beats the World Bank on carbon footprinting
by Helena Wright
The World Bank is failing to live up to progress in the private sector on carbon disclosure as this Climate Home article argues. Not only has the Bank failed to disclose its indirect emissions, but it also has yet to set a target to reduce them. The Bank might benefit from taking a look at the carbon footprint of private companies.

   
Ahmed hasan on unsplash banglasdesh Blog — 11 October 2017
Sustainable infrastructure in development banks
by Helena Wright, Dileimy Orozco
While Development Banks are part of sustainable infrastructure initiatives, varying progress has been made in scaling up climate-related energy spend. As a result, the banks are missing opportunities for scaling up climate spending particularly in transport and water. Read more in the blog.

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Senior Policy Advisor
Ingrid Holmes Ingrid Holmes
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