Over half of the world’s least developed and lowest income countries are currently exploring for oil and gas or hoping to expand existing production.

Climate financing by the world’s six largest multilateral development banks (MDBs) rose to a seven-year high of $35.2 billion in 2017, up 28 per cent on the previous year.

A report by E3G assessing progress of six Multilateral Development Banks (MDBs) in aligning their financial flows with the Paris Agreement on climate change.

The world’s six largest multilateral development banks (MDBs) continued to make a strong contribution to the global climate challenge in 2016, increasing their climate financing in developing countries and emerging economies last year to $27.4 billion from $25 billion in 2015.

This guidance note aims to assist countries with determining how to secure the financing for their National Adaptation Plan (NAP) processes. Financing is needed throughout the entire NAP process to enable its potential to be reached—from its initiation to the implementation, monitoring and evaluation of prioritized adaptation actions.

Renewable energy will form a core thrust of India’s INDCs, and also of the India specific country strategies of the World Bank and the Asian Development Bank.

The best available science shows an urgent need to keep global temperature increases below 1.5°C to avoid severe disruptions to people and ecosystems. Recent analysis shows that burning the reserves in already operating oil and gas fields alone, even if coal mining is completely phased out, would take the world beyond 1.5°C of warming.

The Stop Coal Financing Report calls on the Asian Development Bank to cease all support for new coal projects, and to hasten the transition to sustainable renewable energy across Asia. Climate change poses extreme risks to the Asia Pacific region that will endanger the lives and livelihoods of low income people and people living in poverty.

In 2013 countries agreed to establish the Warsaw International Mechanism for Loss and Damage (WIM) and agreed that it would do three things: a) enhance knowledge; b) strengthen dialogue and coordination and c) enhance action and support, including finance for loss and damage. This third element of its mandate has been sorely neglected.

Multilateral climate funds play a key role in using public finance to help drive the economic and societal transformation necessary to address climate change. There is growing pressure for policymakers to make the architecture of funds more effective and coherent.

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