A consortium of Multilateral Development Banks (MDBs) has jointly reported their investments in climate change adaptation and mitigation projects (climate finance) on an annual basis since 2011, with the latest report published on June 2015. The objectives of this work are as follows:
- improved transparency and better understanding of MDB’s own and external resources channelled through the MDBs for climate finance
- improved cooperation between International Financial Institutions (IFIs)
- more and better climate change adaptation and mitigation financing
The approach outlined in this briefing document seeks to expand the MDB climate finance tracking to also estimate financial resources invested alongside MDBs by exte rnal parties. A Technical Working Group (TWG) compo sed of MDB representatives, supported by an external consultant (International Financial Consulting Ltd), launched work towards a common practice in early 2015.
The purpose of this briefing document is to define a common tracking and reporting practice for MDBs that:
- defines a common approach on how to report on clima te co-financing flows that are invested alongside each MDBs’ climate finance activities
- harmonize definitions and indicators that estimate climate co-financing alongside MDB-managed resources for climate projects