Climate change is not just an environmental challenge—it is a fundamental threat to development in our lifetime. The World Bank Group has made confronting climate change a top priority in our push to eradicate extreme poverty and boost shared prosperity. At IFC, we are stepping up our investments in climate change mitigation and adaptation and helping our clients understand and manage the risks and opportunities climate change presents.
Since 2005, we have invested more than $11 billion in some 600 climate-related projects that have helped developing countries meet their energy needs while supporting a green growth path. IFC made its first investment in renewable energy in 1989 and is now one of the world’s largest financiers of wind and solar power for emerging markets. IFC is also working to leverage new sources of funding for green growth through its green bonds program that raised $2 billion in 2013 alone, as well as through the Catalyst Fund and its co-investments with governments through its blended finance work.