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What has been done to meet the commitments made by AFD at the One Planet summits in Paris (December 12, 2017), New York (September 26, 2018) and Nairobi (March 14, 2019)? Track our progress step by step, by opening the boxes below. This page will be updated after each summit.
COMMITMENT 1: A 100% PARIS AGREEMENT AGENCY

DECLARATION

AFD is committed to becoming the first “100% Paris Agreement” financial institution. The aim is to ensure that all funding is consistent with low-carbon and climate change-resilient development in the countries where we work.

WHERE DO WE STAND?

We have adapted our internal procedures. For each project we finance, AFD now checks that it is compatible with the climate goals of the country in which it is carried out. Projects likely to receive a negative assessment are abandoned very early in the internal decision process.

NEXT STEPS

The Paris Agreement also calls for countries to plan long-term low-carbon development trajectories for 2050. Because some countries have yet to develop their own road map, AFD is conducting its own “country analyses.” The aim is to avoid involving countries in projects that are potentially incompatible with their future climate goals. Of the 100 country analyses planned, 75 have been conducted.

COMMITMENT 2: ALIGNING DEVELOPMENT BANKS WITH THE PARIS AGREEMENT

DECLARATION

30 development bank members of the International Development Finance Club (IDFC) and Multilateral Development Banks (MDB) have committed to aligning their financial flows with the requirements of the Paris Agreement on climate. This includes implementing “more explicit policies to significantly reduce reliance on fossil fuels and rapidly accelerate financing for renewables,” according to their joint declaration.

WHERE DO WE STAND?

The IDFC members are aligning themselves with the Paris Agreement in three ways: in project financing, in in-house strategy, and in aiding their country of origin to meet its commitments. AFD is holding to its commitment of being the first “100% Paris Agreement” financial institution.

IDFC has carried out a study to assist eight of its members in aligning with the Paris Agreement. The study’s findings encourage these members to adapt their activities over the long term, up to 2050, and to ensure that they are not detrimental to the climate.

Financing by IDFC members for the climate increased to $196 billion in 2017, double the figure of 2015, the year of COP21.

The banks involved continue to advance in identifying a methodology to make their financial flows compatible with low-carbon, climate change-resilient development. AFD is keeping to its commitment of being the first “100% Paris Agreement” financial institution.

At the COP24, the IDFC and the group of multilateral banks each detailed their progress toward alignment with the Paris Agreement, continuing to operationalize the commitment.

 

NEXT STEPS

The IDFC is conducting a study to help its members identify tools and processes that will help them to align with the Paris Agreement on climate.

A new framework for IDFC member alignment is to be presented at COP25 in Spain. Work on such alignment will continue into 2020.

COMMITMENT 3: 1.5 BILLION FOR ADAPTATION BY 2020

DECLARATION

Starting in 2020, AFD will invest €1.5 billion each year to finance the adaptation of countries vulnerable to climate change.

WHERE DO WE STAND?

Not only was this goal met in 2018, two years early, but it was even exceeded: last year, AFD invested €1.6 billion in adaptation (€750 million on the African continent), an increase of 45% over 2017.

NEXT STEPS

AFD will continue to increase its funding for adaptation in the coming years, in keeping with its climate commitments.

COMMITMENT 4: ADAPT’ACTION FACILITY

DECLARATION

In 2017, AFD launched its “Adapt’Action” Facility, endowed with €30 million over four years. It is designed to support 15 countries and regional organizations that are especially vulnerable to the effects of climate change as they implement and revise their climate commitments, within the framework of the Paris Agreement.

WHERE DO WE STAND?

Fifteen countries and organizations have joined the Facility so far: Cameroon, Comoros, Congo-Brazzaville, Côte d'Ivoire, Cuba, Dominican Republic, Ghana, Guinea, Madagascar, Niger, Mauritius, Senegal, Tunisia, the Indian Ocean Commission (COI) and the Organisation of Eastern Caribbean States (OECS). 

Sixteen activities are currently being implemented on the ground: support for resilient agriculture in Niger, a wastewater reuse project in Tunisia, support for flood management in Mauritius, and others.

NEXT STEPS

The Adapt’Action Facility is in its active executive phase, with the first services being provided in the field. About a hundred projects will be supported by 2021, covering a wide variety of topics related to different climate challenges and national priorities.

COMMITMENT 5: 2050 FACILITY

DECLARATION

The 2050 Facility, which will ultimately be endowed with €30 million, provides several countries with support to develop low-carbon, resilient long-term development strategies—targeting 2050—as called for in the Paris climate accord.

WHERE DO WE STAND?

An initial grant of €10 million was approved in July 2018 to fund this new tool. Fifteen beneficiary countries have been identified: Algeria, China, Colombia, Côte d'Ivoire, Ethiopia, India, Indonesia, Kenya, Mexico, Morocco, Namibia, Pakistan, South Africa, Turkey, and Vietnam.

These countries will receive support to model the impact of climate change on their economies (using the GEMMES model) or to back up public policy reforms related to energy efficiency, transport, and industry. Some of these support actions are already in progress.
 

NEXT STEPS

The support discussed with the beneficiary countries is being launched. It covers a wide variety of issues, such as analyzing the impacts of climate change, studying the trajectories and risks of transitions for different sectors, integrating climate concerns into national development strategies, and supporting the climate data tracking system.

These support actions will be formalized and implemented in partnership with independent policy institute, IDDRI and 2050 Pathways Platform, a multi-stakeholder initiative launched at COP 22.

COMMITMENT 6: PACIFIC INITIATIVE FOR ADAPTATION AND BIODIVERSITY

DECLARATION

We will fund adaptation to climate change among small island states in the Pacific Ocean, which are particularly vulnerable.

WHERE DO WE STAND?

The initiative was officially launched in September 2018 at the One Planet Summit in New York by four stakeholders: France, the European Union, Australia, and New Zealand (see press release).It was joined by Canada in November.

The initiative currently has €27.5 million at its disposal, of which €10 million from Agence Française de Développement and the European Union respectively. 
 

NEXT STEPS

There will be 15 beneficiary countries: Cook Islands, Fiji, Kiribati, Marshall Islands, Micronesia, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu, and Vanuatu. The French Overseas Territories of New Caledonia, Polynesia, and Wallis and Futuna will also benefit from the initiative. 

The initiative is in the project-identification stage for the areas of coral restoration, forest management, nature-based solutions, and coastal management. Their operational launch is scheduled for the France-Oceania summit in the first half of 2020.

COMMITMENT 7: LAND DEGRADATION NEUTRALITY FUND

DECLARATION

Each year, more than 12 million hectares of land lose their ability to provide services to ecosystems due to unsustainable farming practices, pollution, and deforestation resulting in impoverishment or erosion. This is a direct threat to biodiversity and the food security of nearly one billion people.
At the One Planet Summit in Paris, AFD announced its contribution of €30 million to the Land Degradation Neutrality (LDN) fund, created in 2015 by the United Nations Convention to Combat Desertification (UNCCD) to achieve neutrality in terms of degradation to soil and forests by 2030.

WHERE DO WE STAND?

In 2018, AFD announced that it would contribute €40 million. For technical reasons, AFD ultimately reduced its contribution to €7 million. This contribution was still sufficient to attract other investors and launch the fund.

Furthermore, AFD will deliver technical assistance to help identify the best sustainable agroforestry and land restoration projects.

NEXT STEPS

The LDN funding round is underway. To date, €60 million have been promised by various stakeholders. The aim is to collect €260 million. In the meantime, initial projects must be funded, such as planting sustainable teak in Ghana and cultivating environmentally friendly cacao in Nicaragua.

COMMITMENT 8: ADOPTION OF THE CHARTER OF FRENCH PUBLIC INVESTORS FOR THE CLIMATE

DECLARATION

AFD, Bpifrance, Caisse des Dépôts, the Fonds de Réserve pour les Retraites and the Etablissement de Retraite Additionnelle de la Fonction Publique have signed a charter that binds these French public investors to six climate-related principles.

WHERE DO WE STAND?

AFD is already applying the principles of the Charter.
 

COMMITMENT 9: COALITION OF PHILANTHROPISTS FOR THE CLIMATE

DECLARATION

Launch a coalition of philanthropists and governments to accelerate the implementation and storage of renewables, fight air pollution, and develop agricultural models that are resistant to climate change.

WHERE DO WE STAND?

16 philanthropists and 4 countries (France, Canada, UK, and Germany) currently make up the coalition. Four task forces have been formed, covering renewable energy in Southeast Asia, air quality, agriculture and mixed (public/private) financing. AFD plays an active role.

NEXT STEPS

The task forces will continue their work, including deploying projects and funding that have demonstrated their feasibility via pilot projects. Other governments and philanthropic foundations may soon join the coalition.

COMMITMENT 10: BIODIVERSITY FACILITY

DECLARATION

At the One Planet Summit in Nairobi on March 14, 2019, AFD announced the creation of a Biodiversity Facility in 2019 to support 16 countries as they develop their national contributions for the 15th Conference of the Parties (COP) to the Convention on Biological Diversity (CBD), which will be held in 2020 in Beijing. In other words, the aim is to help these countries create plans to protect biodiversity on their territories.

It is endowed with €10 million and will be rolled out in collaboration with WWF and IUCN, which specialize in protecting our living environment.


WHERE DO WE STAND? 

At the One Planet Summit in Nairobi on March 14, 2019, AFD announced the creation of a Biodiversity Facility to support 16 countries as they develop their national contributions for the 15th Conference of the Parties (COP) to the Convention on Biological Diversity (CBD), which will be held in 2020 in Kunming, China. 

The aim is to help these countries create national action plans to protect their biodiversity. These plans will be presented at COP15.


NEXT STEPS

The Facility is endowed with €10 million and will be rolled out in collaboration with WWF and IUCN, which specialize in protecting our living environment.

Further reading