Public development bank’s climate commitments 2024

Public development banks (PDBs) play a key role in directing finance for the global low emission climate-resilient transition. Particularly in emerging markets and developing economies (EMDEs), where annual climate investment needs will reach at least USD 2.4 trillion by 2030 (Songwe et al. 2024), PDBs are crucial actors for mobilizing investments for the growth of nascent climate sectors. Specifically, PDBs contribute to raising climate finance while pursuing their core economic policy mandates, as described in Box 1 below.

Public actors provided an annual average of USD 640 billion in climate finance in 2021/22,6 just over half of the global total (CPI 2023). Between 2011 and 2020, public climate finance grew 9.1% annually, outpacing private climate finance growth over the same period (CPI 2022a). However, to close the gap between global climate investment needs and current flows, PDBs need to continue scaling up both their direct investment and complementary activities to mobilize private climate finance.

source :

https://www.climatepolicyinitiative.org/wp-content/uploads/2012/12/PDB-Commitments-Tracking-2024.pdf