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The EBRD regularly co-finances with other multilateral development banks (MDBs) and coordinates policy support to governments.
To enhance this cooperation and increase scope and effectiveness, MDBs developed the country sector platform approach and launched the Joint MDB Long-term Strategies Program.
As a system, MDBs are already one of the largest providers of climate finance and we are working to deploy and mobilise more.
MDBs estimate that annual collective climate financing for low- and middle-income economies will reach US$ 120 billion by 2030, including US$ 42 billion for adaptation, and US$ 65 billion of private-sector mobilisation. For high-income countries, our annual collective climate financing will reach an estimated US$ 50 billion by 2030, including US$ 7 billion for adaptation, and US$ 65 billion of private-sector mobilisation.
The EBRD also collaborates with other MDBs to set standards and develop methodologies, such as a harmonised approach to Paris alignment. MDBs put together a set of joint principles that cover all aspects of our operations - that is, an enabling framework for us to tackle transition finance and the design of our policy engagement under a common technical approach. The principles are publicly available as a guide to clients that are working to align their own operations with the Paris Agreement.
Tracking the flows of climate and nature finance accurately has become a priority for companies, donors, governments, researchers, non-governmental organisations and other stakeholders.
As a response, MDBs jointly developed in 2011 a methodology to track our climate finance flows in a consistent, comparable and transparent manner.
The joint tracking approach assists MDBs and other organisations that might want to track their own climate finance levels or more clearly understand MDBs’ climate engagement. It informs other tracking exercises, such as CPI, the OECD and that of other development finance institutions. At COP28, MDBs also agreed on a set of common principles for tracking nature-positive finance.