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Blog Post
December 01, 2023
The dirty secret of climate finance is that much of it is displacing traditional development aid. Calls for more climate finance are important, but if current practice is any guide, a large share of the funds will be taken from budgets that fund critical development priorities, such as health, educa...
Blog Post
September 13, 2023
Olu Verheijen from the Nigerian government and Vijaya Ramachandran from the Breakthrough Institute join Gyude to discuss the scale and nature of the energy crisis in Africa, the role that renewable energy can (and can't) play in addressing it, and what steps African countries—and partners—can take t...
Blog Post
June 28, 2023
On June 14, we published a paper titled “What Counts as Climate?” where we argued that the World Bank has developed a climate portfolio that lacks estimates of greenhouse gas emissions reductions and has no standardized reporting on GHG estimates. Last week, the World Bank sent an email to members o...
Blog Post
June 14, 2023
Too often, climate finance is treated as a proxy for climate outcomes when it comes to agenda-setting and strategy at the multilateral development banks. Over the last 18 months, the World Bank’s shareholders have led a major reform push that would have the Bank focus more on climate, with the discu...
POLICY PAPERS
June 14, 2023
We examine the World Bank’s climate portfolio at the project level for the period 2000-2022 and find that financing is skewed towards mitigation projects. These projects lack estimates of greenhouse gas emissions reductions, and there is no standardized reporting on GHG estimates across the portfoli...
Blog Post
February 23, 2023
Last month, the World Bank released an “evolution roadmap” proposing to do more on climate change in low- and middle-income countries. It is a global challenge that will have a disproportionate impact on the world’s poorest countries. But it is also important to listen to the Bank’s clients, especia...
Op-Ed
December 06, 2021
As climate pledges pile up, a worrying theme is emerging that bold efforts by rich nations to decarbonize the global economy will be ruined by hordes of new consumers in the developing world buying cars, installing air conditioning, and taking planes. China’s and India’s rapid development and steep ...
CGD in the News
November 03, 2021
In sub-Saharan Africa, which has large gas fields offshore and includes many of the world’s poorest countries, a ban on financing gas projects would practically end support for the critical energy infrastructure necessary to support economic development and raise living standards.
Blog Post
March 16, 2021
Since taking office, the Biden Administration has taken several steps to address the climate crisis and plans to do more on the international stage. This trend will be in line with an earlier move by the European Union to “stop funding oil, gas, and coal projects at the end of 2021, cutting €2bn (£1...