Joint Report on MDB Climate Finance 2012
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The Joint MDB Report on Climate Finance is now in its second year, and the information provided has been expanded to include a better sectoral as well as a regional breakdown of MDB financing. This report presents basic data on which further analysis could be based. Multilateral Development Banks (MDBs) provided approximately USD27 billion in financing to address the challenges of climate change in 2012. Of the total USD27 billion in climate finance, 78%, or USD21 billion was dedicated to mitigation and 22%, or nearly USD6 billion to adaptation. Of the total commitments, 8%, or USD2 billion came from external resources, such as bilateral or multilateral donors, including the Global Environment Facility and the Climate Investment Funds. In terms of regional coverage, Latin America and the Caribbean received the highest total share of MDB climate finance, 18%, while the EU 13 countries received 11%. In regards to sector coverage, 36% of adaptation finance went to the infrastructure, energy, and built environment sector, while 33% went to support increasing the resilience to climate change of the agriculture sector. In mitigation finance, renewable energy took by far the largest share of finance, with 36% of the total. The difference between mitigation and adaptation finance is greatest in the EU 13 and Other Europe and Central Asia regions, where 95% and 93% of climate finance commitments from MDBs respectively is for mitigation measures.