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New WRI paper: Financing the Energy Transition: Are WB, IFC, and ADB Energy Supply Investments Supporting a Low-Carbon Future?

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A new paper by the World Resources Institute (WRI), Financing the Energy Transition: Are World Bank, IFC, and ADB Energy Supply Investments Supporting a Low-Carbon Future?, provides a first-cut assessment of how the energy supply investments of the World Bank, International Finance Corporation (IFC), and Asian Development Bank (ADB) align with the Paris Agreement goal to limit global temperature rise to well below 2°C.

Finance provided and catalyzed by multilateral development banks (MDBs) will help pay for implementation of the UN Sustainable Development Goals and the Paris Climate Agreement in many developing countries. Although MDBs already track and report on their climate finance, less is known about the extent to which the MDBs are financing projects that are consistent with a low-carbon future.

Our working paper looks beyond climate finance to provide an initial assessment of whether a sub-sample of MDBs are financing energy supply infrastructure that is consistent with pathways that limit warming to below 2oC. We analyzed recently approved (2015-2016) and planned energy supply projects of the World Bank, IFC, and ADB—over 400 total—including nearly 300 infrastructure projects with an estimated $35 billion of finance for energy supply infrastructure in developing countries. Our analysis raises important policy questions for MDBs, their shareholders, and civil society.

Our blog post, Are Multilateral Development Banks Supporting a Low-Carbon Future?, offers more insights into the paper’s findings.

We officially launched the paper at the recent G7 Environment Ministerial in Bologna, and captured the highlights from the meeting in a blog post, U.S. Paris Pull-Out Sparks Discord and Dialogue for G7 Environment Ministers.

You can find the full paper here. We hope that you will find it useful in your work and look forward to hearing your feedback. 

For more information, please contact Giulia Christianson(gchristianson@wri.org), Gaia Larsen (glarsen@wri.org), or Lee Hager (lhager@wri.org). 
 

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