19 September 2014: The third edition of the Joint MDB Report on Climate Finance 2013 has been expanded to include a better sectoral breakdown, and divisions by public and private operations. Since 2011, multilateral development banks (MDBs) have provided over US$75 billion in climate finance to developing and emerging economies, while, in 2013, they provided US$23.8 billion to address climate change, with 80%, or US$18.9 billion, dedicated to mitigation and 20%, or US$4.8 billion, going to adaptation.

Nine percent, or US$2.2 billion, came from external resources, such as bilateral or multilateral donors, including the Global Environment Facility (GEF) and the Climate Investment Funds (CIF). In addition to covering finance for mitigation and adaptation, the report also addresses projects with adaptation and mitigation co-benefits.

Determination of mitigation finance is based on a list of activities that all MDBs consider as mitigation, while adaptation finance is calculated using a joint MDB methodology based on a context- and location-specific approach.

Regarding regional coverage, two regions (East Asia and Pacific, non-EU Europe and Central Asia) each receive approximately 20% of total climate finance provided, and four regions (South Asia, Sub-Saharan Africa, Latin America and Caribbean, new EU Member States) receive 10-15% each. Approximately 22% of adaptation finance went to coastal and riverine infrastructure, while 30% went to energy, transport, and other built environment and infrastructure. Renewable energy makes up the largest share of mitigation finance, with 25% of the total.

The report also provides: an overview of and guidance on the adaptation finance tracking methodology; the context of vulnerability to climate variability and change; a clear and direct link between climate vulnerability and project activities; and adaptation case studies. On the joint MDB approach for mitigation finance reporting, the report discusses typology of mitigation activities included in the joint reporting, mitigation case studies, and mapping mitigation sectors (such as energy efficiency, renewable energy, transport, and agriculture, forestry and land use) against the mitigation typology.

The report is from: the African Development Bank (AfDB); the Asian Development Bank (ADB); the European Bank for Reconstruction and Development (EBRD); the European Investment Bank (EIB); the Inter-American Development Bank (IDB); and the World Bank Group. [Publication: Joint Report on MDB Climate Finance 2013] [EBRD Press Release]