Doing well by doing good: the multilateral banks respond to climate change
In Addis Ababa in 2015 the donor community reiterated the pledge from Copenhagen to provide $100bn per annum to the developing world to help them mitigate and adapt to the consequences of climate change.
The multilateral development banks (MDBs) were seen as an important channel to support both mitigation and adaptation efforts.
In Paris, the UNFCCC requested the MDBs to increase their efforts in providing funds to help developing countries cope with climate change.
The G7 in 2015 also called “on MDBs to use to the fullest extent possible their balance sheets…in delivering climate finance and helping countries transition to low carbon economies.”