The Paris Agreement aims to hold the increase in the global average temperature to well below 2°C above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5°C. This research provides recommendations on how development banks could strengthen existing tools to align their portfolios and activities with the globally agreed mitigation goal and transition to Paris alignment.
In the first project phase in 2018, the consortium analysed to what extent MDBs support the implementation and enhancement of NDCs, and assessed existing tools and processes at the banks against what would be required for Paris alignment. Further, the team developed approaches to check whether investments in energy and transport infrastructure are aligned with the Paris Agreement temperature goal. In the second phase as of 2019, the consortium expands its focus to also cover national and bilateral development banks, and moves the sector focus to land-use.
The project receives financial support from GIZ on behalf of the Federal Ministry for Economy Cooperation and Development of Germany (BMZ).