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Case study

MDBs and IDFC establish common principles for climate finance tracking

The MDBs and IDFC have worked together over the past couple of years to bring their approaches and methodologies on climate finance tracking closer, with the objective of further increasing transparency and credibility of climate finance reporting.
Key points
  • Transparent reporting on climate finance is essential for policy makers and others to understand the scale and scope of climate finance. The Common Principles for mitigation finance tracking help improve data transparency, collection processes, and begin to address comparability of reporting across different institutions. Common Principles for Adaptation tracking have established key principles and also important next steps to start to address more harmonized approaches.
  • The cooperative work on the Common Principles for Climate Finance Tracking is allowing for collaboration and crosscapitalization across a greater number of financial institutions. Establishing Common Principles is an important step that must be followed by further engagement to continue to address comparability of reporting
  • Ongoing work within groups using Common Principles is required to identify issues and challenges in climate finance tracking and to use these exchanges to improve and clarify the Principles and their use for tracking.