This paper provides a first-cut assessment of how the energy supply investments of the World Bank, International Finance Corporation (IFC), and Asian Development Bank (ADB) align with the Paris Agreement goal to limit global temperature rise to well below 2°C.
Investors face growing pressure to reduce the negative environmental and social impacts of their investments. In trying to do so they are confronted with the question of how to interact with governments in the countries where they invest.
The World Bank has sought to reinvent itself in the face of a growing number of global development challenges, including economic uncertainty, political unrest, and the increasingly severe impacts of a changing climate.
Developing countries are calling for greater ownership of climate finance and a greater voice in climate finance decisions. Decades of evidence with official development assistance shows that when support is aligned with country development plans and priorities—and funding