Through engagement on specific investments and advocacy at the institutions, BIC aims to achieve stronger commitments from MDBs to use resources to respond to the climate crisis.
BIC urges MDBs to truly align their portfolios with the overarching goal of the Paris Climate Agreement, which means fully reorienting investments away from high greenhouse gas-emitting activities, including the use of fossil fuels in both energy and transport. MDBs must be transparent about their climate impacts both at the project level and portfolio-wide.
The World Bank invests relatively little in zero emission transportation even as this sector is the largest and fastest growing source of carbon dioxide emissions from client countries.
MDBs do not disclose key information for understanding climate impacts of their investments, such as their analysis and assumptions about project-level GHGs, and they do not typically report absolute GHGs either at project-level or portfolio-wide.
The World Bank has made no significant changes to the content of its action plan covering 2021-2025, in spite of significant shortcomings and opportunities to improve its commitment to align its portfolio with the Paris Agreement.
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