At the World Bank Group's 2015 Annual Meetings, President Jim Kim announced an institutional commitment to increase climate-related investments by 28 percent by 2020, roughly doubling the IFC's climate investments in the next five years. IFC is poised to contribute, whether through direct investments in climate sectors including renewables, development of new de-risking and aggregation mechanisms, or sharing our experience through participation in international fora and multi-stakeholder working groups.
Climate change is a fundamental threat to development in our lifetime, with the potential to impact millions, threatening agricultural livelihoods, increasing the incidence of natural disasters and affecting water, energy, and food supplies.
A recent study released by the World Bank showed that if not properly mitigated, climate change could push more than 100 million people back into poverty over the next 15 years, hitting the poorest regions of the world – Sub-Saharan Africa and South Asia – the hardest.
The impact of IFC climate business in FY16:
|$3.3||BILLION COMBINED MOBILIZATION AND INVESTMENT|
|73||CLIMATE SMART PROJECTS|
|8||MILLION METRIC TONS IN ANNUAL GHG REDUCTIONS|