Joint Report on MDB Climate Finance 2013
Date
Sep 2014
This is the third edition of the joint MDB Report on Climate Finance and the information provided has been expanded to include a better sectoral breakdown, and split by public and private operations. Multilateral Development Banks (MDBs) provided USD 23.8 billion in financing in 2013 to address the challenges of climate change and, since 2011, have provided over USD 75 billion in climate finance to developing and emerging economies. Of the total USD 23.8 billion in climate finance, 80%, or USD 18.9 billion, was dedicated to mitigation and 20%, or USD 4.8 billion, to adaptation. Of the total commitments, 9%, or USD 2.2 billion, came from external resources, such as bilateral or multilateral donors, including the Global Environment Facility and the Climate Investment Funds. This report covers finance for mitigation, adaptation and projects with dual adaptation and mitigation benefits. As in previous years, the calculation of mitigation finance is based on a common list of activities at the intersection of what all MDBs consider mitigation. Adaptation finance is calculated using the joint MDB methodology based on a context- and location-specific approach. Data reported in both cases corresponds to the financing of those components and/or sub-components or elements/proportions of projects that providemitigation and/or adaptation benefits (rather than the entire project cost).
Some MDBs have different internal accounting approaches for mitigation. In such cases, the volume of each MDB's climate finance mitigation calculated using their internal methodologies is separately reported. The regional coverage for 2013 is quite balanced with two regions (East Asia and Pacific, Non-EU Europe and Central Asia) each receiving roughly 20% of total climate finance provided and four regions (South Asia, Sub-Saharan Africa, Latin America and Caribbean, EU New Member States) 10-15% each. In regards to sector coverage, 22% of adaptation finance went to "Coastal and riverine infrastructure (including built flood protection infrastructure)" and 30% to the category comprising "Energy, transport, and other built environment and
infrastructure". In mitigation finance, renewable energy still takes by far the largest share, with 25% of the total.