Tuesday, May 30, 2017

WRI: to what extent multilateral development banks supporting a low-carbon future?

WRI’s working paper analyses approved and planned in 2015-2016 energy supply investments of three MDBs - the World Bank, International Finance Corporation (IFC) and Asian Development Bank (ADB),  which represent about 300 infrastructure projects with $35 billion of finance in developing countries.
Authors of the paper found that 32% of projects and 17% of finance are aligned with 2⁰C pathways, while 48% of projects and 57% of finance are conditional. The rest of projects are misaligned with 2⁰C pathways or “controversial". Renewable energy projects and the storage of energy in batteries represent the majority of projects aligned with 2⁰C pathways. Solar photovoltaic technology accounts for about 15 percent of projects and 5 percent of the overall MDB's finance. Read more at http://www.wri.org