Last year, IFC’s Chief Executive Officer laid out in a blog an ambitious goal to work with financial institution clients who are committed to reducing or eliminating their exposure to coal. Supporting the World Bank Group’s climate strategy, this new approach aims to increase climate lending and reduce exposure to coal in clients where IFC has equity, or an equity-like, exposure.
IFC has seen growing demand among financial institution clients for green products, recognition that managing climate risks is a key component of overall risk management, and concern that coal assets are likely to become stranded assets in the future. Through this green equity approach, IFC hopes to continue our leadership in the climate space by testing the demand among its financial institution clients for greener portfolio management and commitment to tackling climate issues.
Comments on the consultative draft may be submitted until May 17, 2019 to email@example.com.