Many development finance institutions (DFIs), including This phase of the research included an analysis of the major multilateral development banks and members existing FI investments using DFI project databases to of the International Development Finance Club, have demonstrate the volume and types of FI investments committed to aligning with the objectives of the Paris at the different DFIs. [...] expertise, capacity, and organizational structures For example, some DFIs already assess whether the necessary to assess the Paris alignment of individual FI is committed to and has the capacity to implement subprojects? Each FI would commit to employing at robust environmental and social safeguards to the least one climate expert or a climate team to assess all projects they finance. [...] For example, the FI and DFI might institutional-level criteria (corporate milestones) agree that the FI needs to refer subprojects to the DFI for FIs, including reporting annually to the Task for in-depth climate risk assessments for a period of Force on Climate-Related Financial Disclosures up to five years while the FI develops the capacity to and growing green portfolios by a predetermined cond. [...] Over time, this may lead the FI to prioritize the development of necessary Support for FIs Not Ready governance structures and strategies, including a to Commit to Implementing climate strategy, to take steps to minimize climate risk in Paris Alignment Criteria its portfolio, and to make a formal commitment to Paris alignment. [...] Ensure that they have the necessary capacity and Development Bank and the private sector–focused IDB Invest; Islamic Development Bank and Islamic Corporation for the Development organizational processes to access, monitor, and of the Private Sector; New Development Bank; the World Bank and disclose the Paris alignment status of FI investments its private sector counterpart, International Finance C.
- Pages
- 32
- Published in
- Germany
