Overview of climate mainstreaming approach and goals:
The African Development Banks Long Term Strategy 2013-2022 (LTS) has two objectives: inclusive growth and facilitating the transition to green growth. The LTS is operationalized through 5 priority intervention areas, that aim to support African countries to achieve the Sustainable Development Goals (SDGs), identified as the High 5’s: Light-up Africa; Feed Africa; Integrate Africa; Industrialize Africa; and Improve the Quality of Life for the People of Africa. Climate Change is mainstreamed through the High 5 framework in the following ways:
- Integration of climate change considerations in strategic documents (including country and sector strategies);
- Integration of climate change considerations in operations (projects and programmes). Processes employed include climate risk screening and risk management, and accounting for GHG emissions. The Banks climate finance contribution is also assessed using the Joint MDB methodologies for climate finance;
- Alignment of operations with national climate change objectives (Nationally Determined Contributions, Long Term Strategies etc.. ). More broadly, the Bank is in the process of enhancing internal tools and processes to assess Paris Alignment;
- Mobilization of external climate finance from global mechanisms such as the Green Climate Fund in support of NDC, NAP, NAMA implementation.
The following corporate targets have been set:
- To provide USD 25 billion as climate finance by 2025. To complement this ambition the Bank is hosting the Africa Global Centre for Climate Adaptation, which will implement a flagship program – the Africa Adaptation Acceleration Program (AAAP). The AAAP aims to mobilize $25 billion to scale up and accelerate climate change adaptation actions across Africa. In addition, the Bank is setting up a 30-year special fund which will provide large-scale, long-term debt investments complemented by grant-based technical assistance for climate mitigation and adaptation across various sectors in African countries.
- Parity in financing for adaptation and mitigation.
- 100% of operations with climate informed design by 2021.
- 100% of country strategy documents to integrate climate change by 2021.
Principal Strategic Documents:
In 2021, the AFDB is developing an updated policy framework to guide its climate change and green growth agenda. The policy framework will comprise a Climate Change and Green Growth Policy, Climate Change and Green Growth Strategy (2021 – 2030) and a Climate Change and Green Growth Action Plan (2021 – 2025). In the interim implementation of the Climate Change Action Plan (2016 -2020) has been extended to 2021.
Principal Tools and Methodologies:
- Common Principles for Climate Mitigation Finance Tracking
- Common Principles for Climate Change Adaptation Finance Tracking
- A Framework and Principles for Climate Resilience Metrics
- The MDBs’ alignment approach to the objectives of the Paris Agreement
Key reports and other materials published by the institution: