Public development banks have collectively committed to change their strategies, investment policies, activities and operating procedures to help redirect financial flows for climate-resilient and low-carbon development, in line with the Paris Agreement.

During the first One Planet Summit, the national and regional development banks of the International Development Finance Club (IDFC), that reach 27 members as of January 2022,  and the 6 Multilateral Development Banks (MDBs) committed to work together to align with the Paris Agreement. Both IDFC and the MDBs have worked over the past years to implement the alignment commitment, each with its own governance and dynamic, and with regular meetings. They have developed strategies, alignment frameworks and methods and they have made ambitious alignment and investment commitments that are compatible with the Paris Agreement.

More than US$1 trillion committed to green finance since 2015 and the potential to mobilize up to US$ 1.3 trillion by 2025 

As the largest provider of climate finance globally, the Club was proud to report during the COP 26 held in Glasgow, UK, in November 2021 a total of US$ 1 trillion of green finance over the period 2015 -2020 beyond the target set at the UN Climate Action Summit in September 2019. During the event IDFC members, to foster this ambition, announced they were joining forces to potentially mobilize up to US$ 1.3 trillion by 2025 including a significant increase for adaptation and biodiversity.


On this occasion IDFC published the “2021 Green and Climate Finance Mapping ” full report, containing the following key figures carried out in 2020 by IDFC members.

  • More than US$1 trillion committed to green finance since 2015 – overcoming the initial
    commitment of reaching this threshold by 2025 – including US$185 billion in 2020.
  • Adaptation projects accounted for US$27.4 billion, up 42% from 2019 and x5 since 2016.
  • Biodiversity finance is measured for the first time in the Club Mapping with a total amount
    of US$14 billion committed on biodiversity in 2020


Following the decision of the G20 Summit in Rome, IDFC commits in its State of Ambition to end the provision of international public finance for new unabated coal power generation abroad by the end of 2021.

$200 bn

More than $200 billion per year

Stages of alignment and outcomes

To meet the expectations set out in the 2015 Paris Agreement and its third core goal of making finance flows consistent with low-carbon and climate-resilient development, public development banks are committed to an alignment process, which began with their joint commitment at the One Planet Summit in December 2017.

IDFC published in June 2021 an operational framework developed by two independent think tanks, the New Climate Institute (NCI) and the Institute for Climate Economics (I4CE). This framework provides clear and practical guidance on how IDFC members – and the financial community at large – can reach a better alignment of their strategies, programs and operations with the requirements of the Paris Agreement.


This process was further advanced on October 18th, 2021 for the “On the way to FICS 2021 and COP26” Finance in Common event as the Agence Française de Développement (AFD) & the European Investment Bank (EIB), along with their IDFC partners , the CDC Group, the European Development Finance Institutions (EDFIs) and the Multilateral Development Banks (MDBs), met online to contribute to a successful COP26 in November and take stock of the work of the Public Development Banks (PDBs) on Paris Alignment. Following the first FIC Summit, in November 2020, that gathered for the first time all PDBs in the world and other key stakeholders (governments, central banks, private sector, civil society, think tanks, etc.). In a joint declaration, they committed to align their financial power, representing 10% of global investments, with the Paris Agreement:


“We, Public Development Banks of the world, gathered for the first time in Paris, commit to support the transformation of the global economy and societies towards sustainable and resilient development. Today, it is essential that we build back better, by simultaneously designing and acting for sustainable, equitable and inclusive outcomes and impacts, leaving no one behind. “

Declaration of the Finance in Common Summit in Paris on November 12, 2020.


FICS 2021 satellite event was the opportunity to assess the progresses made one year later


Since 2015, Multilateral Development Banks (MDBs) and IDFC members are using jointly developed Common Principles for Climate Mitigation Finance Tracking for guiding their common understanding on what can be counted as mitigation finance. These principles have been updated on the occasion of the FICS 2021. The revision of the Common Principles involves an enhanced ambition for reducing greenhouse gas emissions, taking into account new mitigation activities required to meet the goals of the Paris Agreement and excluding activities that, while reducing greenhouse gas emissions in the short term, may maintain highly emissive technologies for several more years, thereby undermining the long-term temperature goal.

The updated principles set more  ambitious standards, requiring for instance transitional activities to “comply with high performance country- or sector-specific standards, benchmarks or thresholds for GHG emissions or emission-intensity that significantly exceed expected performance in a sector or activity”.



Find out more

The International Development Finance Club (IDFC), created in 2011, is made up of 27 national and regional development banks from all over the world, most of which are active in emerging economies. IDFC is the largest provider of public development and climate finance globally, with $4 trillion in combined assets and annual commitments of more than $800 billion, some $185 billion of which is climate finance. Uniquely, IDFC members support national policies while transferring international priorities into their own constituencies.

Website :
Annual Reports :

Joint declaration: alignment OPS 2017

Position paper of the 6 alignment building blocks, COP24, 2018

Alignment study published by I4CE and CPI for IDFC, 2019

FICS EVENT BRIEF “On the way to FICS 2021 and COP26: PDBs moving forward on Paris alignment” published on October 2021


The Multilateral Development Banks (MBDs) committed to the climate cause are supranational institutions set up by sovereign States, which are their shareholders. Their remits reflect the development aid and cooperation policies established by these States. They share the task of fostering economic and social progress in developing countries by financing projects, supporting investment and generating capital for the benefit of all global citizens. MDBs also play a major role on the international capital markets, where they raise the large volume of funds required to finance their loans. By taking sustainability criteria into account and by redirecting their finance, they play a decisive role in fighting climate change. Members: AfDB, ADB, EIB, EBRD, IDB, World Bank and, since 2019, AIIB and the Islamic Development Bank. Governance and monitoring: the MDB network is chaired for a 6-month period by each of its members in turn.
A joint report on climate finance is published each year and the latest one is available here: 2020-Joint-MDB-report-on-climate-finance-Report-final-web.pdf (

Each member communicates on an individual basis concerning joint commitments.