In 2020, cumulative green finance commitments by IDFC members surpassed the $1 trillion mark since the Paris Agreement was signed. This is a major milestone, which materializes IDFC members’ ability to deliver on unprecedented flows of green finance.
Adaptation finance continued to grow, increasing by 42% over 2019 and more than fivefold compared to 2016 to reach $27.5 billion.
Mitigation finance suffered a shortfall in 2020, driven, at least in part, by the COVID-19 pandemic and the need to allocate resources to emergency response and economic recovery.
Despite this challenge, six institutions increased their green commitments in 2020, compared to 2019.