$81bn spent on climate change projects in 2015

Will Green is news editor of Supply Management
15 August 2016

Financing totalling $81bn was mobilised during 2015 by development banks for projects tackling climate change across the globe.

A report covering the six largest development banks found more than $20bn was delivered for mitigation schemes, which include increasing efficiency and renewable energy sources, while $5bn was provided for adaptation projects, which include improving land and water use management.

The funding included $25bn of direct finance from the banks and a further $56bn from other investors. Since 2011, the banks have jointly committed more than $131bn in climate finance.

In terms of distribution, non-EU Europe and Central Asia received the largest share of total funding (20%), followed by South Asia (19%), Latin America and the Caribbean (15%), East Asia and the Pacific (14%), sub-Saharan Africa (9%) and MENA (9%).

Projects around water and wastewater systems received the largest share of adaptation funding (27%), followed by energy, transport and related infrastructure (24%) and crop and food production (18%). Renewable energy got the bulk of mitigation finance (30%), followed by low carbon transport (26%) and energy efficiency (14%).

The report was prepared by the Asian Development Bank, the African Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Inter-American Development Bank and the World Bank.

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