2020 IDB Climate Finance

Under the current IDBG Corporate Results Framework (CRF) 2020-2023 (https://crf.iadb.org/en), the IDB committed to reach 30% of the total amount approved (including all lending operations) of climate finance during this period. In 2020, the IDB Group - composed of the IDB, IDB Lab (formerly the Multilateral Investment Fund) and IDB Invest - approved US$3.9 billion in climate finance as per the MDB climate finance tracking methodology. This resource is aimed at development activities carried out by the public and private sectors that reduce greenhouse gas (GHG) emissions and thus mitigate climate change, and/or that reduce vulnerability to climate change and contribute to an adaptation process. This amount represented 19.5% of the IDB Groups total approved amount for 2020. The IDB only climate finance in 2020 was 15%, equivalent to US$ 2 billion. If the COVID-19 related investments are excluded, the IDB climate finance reached 30%. Changes in demand from countries to respond to the pandemic affected the overall climate finance results by shifting the priority to social and fiscal sectors and to projects that could provide faster liquidity.