AfDB

Overview of climate mainstreaming approach and goals:

The African Development Bank’s Ten-Year Strategy 2013-2022 (under review) has two objectives: inclusive growth and facilitating the transition to green growth. The Strategy aims to support African countries to achieve Sustainable Socio-Economic Development (including the SDGs). The Strategy is operationalized through 5 priority intervention areas 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 tracking climate finance;
• Alignment of operations with national climate change objectives (Nationally Determined Contributions, Long-term low carbon and climate resilient strategies (LTS), etc.. ). More broadly, the Bank is in the process of enhancing internal tools and processes to meet its target to be fully aligned with the Paris Agreement by 2025; and
• Mobilization of external climate finance from global mechanisms such as the Green Climate Fund in support of Regional Member Countries commitments to the Paris Agreement.

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 an additional $12.5 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.
• Achieve parity in financing for adaptation and mitigation;
• 100% of operations with climate informed design; and
• Paris Alignment by 2025.

Principal Strategic Documents:

In 2021, the Bank approved the Climate Change and Green Growth Strategic Framework comprised of a Climate Change and Green Growth Policy, Climate Change and Green Growth Strategy (2021 – 2030) and the third Climate Change and Green Growth Action Plan (2021–2025).

• Climate and Green Growth Strategic Framework: Projecting Africa’s Voice – Strategy 2021–2030 | African Development Bank Group – Making a Difference
• Climate Change and Green Growth Strategic Framework: Operationalising Africa’s Voice – Action Plan 2021-2025 | African Development Bank Group – Making a Difference

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
• Joint Methodology for Tracking Climate Change Adaptation Finance
• Joint MDB Methodological Process for Assessment of Paris Agreement Alignment of New Operations
• Joint MDB Methodological Principles for Assessment of Paris Agreement Alignment of New operations – Intermediated financing
• Joint MDB Methodological Principles for Assessment of Paris Agreement Alignment of New operations – List of Activities Considered Universally Aligned with the Paris Agreement’s Mitigation Goals or Not Aligned with the Mitigation Goals

Key reports and other materials published by the institution:

• 2022 Africa Sustainable Development Report
• Africa Green Growth Readiness Assessment
• Annual Report 2022 | African Development Bank Group – Making a Difference (afdb.org)