Source · Select Committees · International Development Committee
Recommendation 70
70
In July 2020, CDC presented its new Climate Change Strategy, with the aim of further...
Conclusion
In July 2020, CDC presented its new Climate Change Strategy, with the aim of further aligning CDC’s measures with the Paris Agreement.150 CDC told us that it had committed over US$1 billion in climate finance since 2017, including for measures to provide renewable energy sources to people in hard-to-reach areas.151 It added that gas could play an important transitionary role where renewable energy sources were not yet a reliable alternative.152 As of 2021, it is committing 30% of its funding to climate finance.153
Government Response
Not Addressed
HM Government
Not Addressed
At COP26, BII committed to invest over £3bn in climate finance over the next five years—accelerating its already substantial investment in renewable energy (over $1 billion since 2017). In addition, BII is leading other development finance institutions to encourage more private sector investment in adaptation and resilience.