This midterm review confirms that AFD is on track to meet, or has already met, many of the targets set in the 2017-2022 climate strategy. Significant progress has been made in relation to the volume of climate finance, AFD’s influence in debates about alignment with the Paris Agreement, the Group's leadership in coping with climate change, and recognition of the role of development banks and their IDFC platform, chaired by AFD.
However, there is still room for improvement, particularly in terms of aligning projects and practices with the Paris Agreement and taking climate considerations into account in all sectors and geographical areas of intervention. Several projects launched within the framework of this midterm review are moving towards a more comprehensive and ambitious application of the climate strategy and are preparing the groundwork for a post-2022 strategy.
The current Covid-19 crisis raises the possibility that the Group’s progress in fighting climate change may be undermined by short-term solutions which delay or run counter to the long-term ecological transition underway. Intensified attention and proactivity is needed for the climate strategy to be implemented in a way to inflect the transitions at a national scale. Remaining on course with climate objectives and Sustainable Development Goals represents an opportunity for a sustainable recovery, and will help reduce countries’ vulnerability in the face of future, recurring crises.
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