Multilateral Development Banks (MDBs) are vital players in the climate finance ecosystem. They provide direct financing for climate mitigation and adaptation activities and help mobilize private sector investment in climate solutions.
Earlier this month, the MDBs released their annual Joint Report on Climate Finance, covering their activities in 2017. Just as we did last year, we reviewed the report and found several encouraging trends, some disappointing results, and many opportunities for increased ambition.
It is worth emphasizing that the Joint Report provides a snapshot in time. This can be skewed from one year to another by idiosyncratic factors, such as lumpy project pipelines or approval of particularly large loans. We therefore focused on trends emerging over time and across banks, since such trends can provide valuable information about where the MDBs are headed.