While low-carbon solutions are gaining traction, the world is still dangerously off-track when it comes to slowing down climate change. Emerging markets – given their huge development needs and growing energy demand - will see a steady growth in greenhouse gas emissions over the next decade and are the most heavily impacted by climate change.
But climate is also a major economic opportunity that can promote growth, create jobs, and accelerate the transition to low-carbon development in a wide range of sectors.
Our research shows that climate business can generate $23 trillion in investment opportunities, create 213 million cumulative jobs, and achieve 4 billion tons of CO2 reduction in developing countries. Helping our clients tap into these opportunities and working with a host of partners to catalyze finance for climate action, is at the core of our business. In fiscal year 2022, IFC delivered $4.4 billion in climate finance and mobilized an additional $3.3 billion from other sources.
IFC is uniquely placed to help these countries mobilize the necessary private capital to decarbonize their economies and adapt to a warming planet.
How? We are:
From the World Bank
The impact of IFC climate business in FY20:
- $6.8 BILLION COMBINED MOBILIZATION AND INVESTMENT
- 8.1MILLION METRIC TONS IN ANNUAL GHG REDUCTIONS
- 111 CLIMATE SMART PROJECTS