In the five years since the Paris Agreement, Development Finance Institutions have made various commitments to aligning their operations with climate change goals. In this report, we analyze the extent to which those official commitments and principles have become manifest in the regular project cycle operations of a presentative sample of DFIs operating across the globe. As defined by the World Bank “the project cycle is the framework used to design, prepare, implement, and supervise projects.” For both MDBs and IDFC members we analyze the strategy, roles, tools and techniques used to mainstream climate change in their operations at the project level.
This Research Paper is published in the framework of the International Research Initiative on Public Development Banks working groups and released for the occasion of the 14th AFD International Research Conference on Development.
It is part of the pilot research program “Realizing the Potential of Public Development Banks for Achieving Sustainable Development Goals”. This program was launched, along with the International Research Initiative on Public Development Banks (PDBs), by the Institute of New Structural Economics (INSE) at Peking University, and sponsored by the Agence française de développement (AFD), Ford Foundation and International Development Finance Club (IDFC).
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