Over ten years, international finance has been directed towards virtuous investments for the climate. The figures speak for themselves: in its Green Finance Mapping Report 2021, the IDFC states that over $1 trillion has been committed to green finance since 2015, including $185 billion in 2020. This is in advance of the initial commitment to achieve this level by 2025.
Projects for climate adaptation amounted to $27.4 billion, an increase of 42 % over 2019 and more than fivefold compared to 2016.
Furthermore, biodiversity finance has been measured for the first time, with a total of $14 billion committed for biodiversity in 2020.
The 27 development bank members of IDFC, including the newcomer Africa Finance Corporation, are now joining forces to deploy potentially up to $1.3 trillion by 2025, with a significant increase in the portion earmarked for adaptation and biodiversity.
In its State of Ambition, IDFC has also committed to end international public finance for new coal-fired energy projects, in accordance with the decision made by the G20 in Rome.
Further reading: IDFC 10-Year Celebration Report