In this blog we explore whether the approaches in the World Bank sector notes are sufficient to avoid financial flows that conflict with the Paris Agreement.

Background and summary: At COP 26 in Glasgow in 2021, Germany signed a pledge to end international finance of fossil fuels by the end of 2022, except in limited and clearly defined circumstances that are consistent with a 1.5°C warming limit and the goals of the Paris Agreement. Under the 2022 German Presidency, G7 leaders’ communiqué echoed the spirit of the Glasgow commitment. While the communiqué recognizes the exceptional circumstances stemming from the Russian invasion of Ukraine, it stresses that any temporary publicly supported investment must still be “ consistent with our climate...

NewClimate joined E3G's event on boosting multilateral investments for biodiversity. In particular, the event looked at biodiversity and land-use finance and the challenges associated with it.

This project aims to further advance the understanding of the universe of global subnational and non-state climate action, the potential impact of these actors on global greenhouse gas (GHG) emissions and their actual progress.

An event hosted by International Development Finance Club exploring 2050 pathways for climate and sustainability finance. The event started at 16h00 local time / 15h00 CET.

The event provided an overview of the state of play and remaining challenges of the multilateral development banks’ (MDBs’) Paris alignment process and discusses the most pressing and promising steps in delivering on the joint commitments. It gave space to the perspectives of shareholders in implementing their Paris commitments by aligning international finance flows including through the MDBs, reflecting also on key implications of last COP’s Glasgow Statement for the Clean Energy Transition. Anja Gebel (Germanwatch) Aki Kachi (NewClimate) Elizabeth Bast (Oil Change International) Ayeisha...

Feeding the world while staying within planetary boundaries and keeping global warming within 1.5°C is a growing challenge where development finance institutions have a key role to play. Far from a contradiction, climate action in agriculture is essential to reaching development goals.

For possible future investments in fossil energy projects abroad, Germany must make it clear that and how it will comply with climate targets - both Germany's and the EU's national climate protection targets and the global 1.5°C target.

Deutschland muss bei möglichen zukünftigen Investitionen in fossile Energieprojekte im Ausland deutlich machen, dass und wie es die Klimaziele einhalten wird - und zwar sowohl die nationalen Klimaschutzziele Deutschlands und der EU als auch das globale 1.5°C-Ziel.

Die mit einer vielbeachteten Vision angetretene Ampelregierung agiert in der Außenpolitik noch ohne klaren Kompass. Das darf sich Deutschland angesichts der aktuellen Neuausrichtung der globalen Energie- und Sicherheitsarchitektur und der sich rasant zuspitzenden Klimakatastrophe nicht leisten.

A few weeks ago, the G20 published a report on “Boosting MDBs’ investing capacity” written by an expert panel tasked with an independent review of Multilateral Development Banks’ Capital Adequacy Frameworks. This blog addresses a significant barrier to fulfilling a number of recommendations about how to better access global financial markets: a lack of transparency and the associated doubts surrounding some MDB’s lending.

Berlin, 5 July 2022 – New analysis published today shows that major Dutch companies only commit to reduce their emissions by 19% by 2030 on average, falling far short of the requirement to halve emissions by 2030 according to this year’s IPCC’s Sixth Assessment report. This is the first comprehensive analysis of 29 Dutch companies and financial institutions based on a study commissioned by Milieudefensie. The research was conducted by NewClimate Institute and evaluates 21 companies operating in the real economy and 8 financial institutions to determine the transparency and integrity of their...

Two years after the 2015 Paris Agreement, the world’s multilateral development banks (MDBs) committed to align their financial flows with the landmark climate pact’s goals.

Much of the world currently finds itself in the midst of an energy crisis tied to jumps in the price of gas. Expanded investments in gas extraction, infrastructure, and gas-fired electricity generation plants sound like they could be solutions to the global gas crunch. New research from NewClimate Institute finds that continued reliance on gas is more likely to be an expensive distraction aggravating the situation – while undermining energy security and climate mitigation efforts. In the vast majority of cases, renewables and electrification represent the best solution. Around the world...