Open Letter to the Multilateral Development Banks

The open letter calls on nine Multilateral Development Banks to accelerate their commitment to the Paris Agreement by ending all assistance for oil, gas, and coal projects after 2020. It demands a rapid scale-up of investments in renewables and energy efficiency, specifically targeting universal energy access by 2030 and allocating at least 50% of finance to climate by 2025. The letter emphasizes the need for transparent reporting on portfolio emissions and the development of just transition plans for workers and communities.

• The authors demand that Multilateral Development Banks end all assistance for oil, gas, and coal projects after 2020, including support for 'associated facilities', advisory services, technical assistance, and lending via financial intermediaries.
• The letter calls for MDBs to align all operations with a high-probability 1.5°C pathway by 2020 and to increase clean energy access finance to achieve universal energy access by 2030, prioritizing 'high-impact' countries and off-grid/mini-grid renewable energy.
• The document proposes that MDBs devote at least 40% of finance to climate by 2020 and at least 50% by 2025, particularly to assist countries in Africa with low-carbon development pathways.
• The letter requests the implementation of transparent reporting on direct and indirect energy finance levels and overall portfolio emissions to enable monitoring by the public and civil society.
• The authors advocate for the promotion of policies for an equitable net zero pathway, including the removal of fossil fuel subsidies and the creation of just transition plans for communities and workers.

APA

rrotadmin (2019). Open Letter to the Multilateral Development Banks. Recourse. https://re-course.org/newsupdates/open-letter-to-the-multilateral-development-banks/

Chicago

rrotadmin. Open Letter to the Multilateral Development Banks. Recourse, 2019. https://re-course.org/newsupdates/open-letter-to-the-multilateral-development-banks/.

Wikipedia

{{cite press release |last1=rrotadmin |title=Open Letter to the Multilateral Development Banks |publisher=Recourse |date=6 December 2019 |url=https://re-course.org/newsupdates/open-letter-to-the-multilateral-development-banks/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{rrotadmin2019open, author = {rrotadmin}, title = {{Open Letter to the Multilateral Development Banks}}, publisher = {Recourse}, year = {2019}, month = dec, url = {https://re-course.org/newsupdates/open-letter-to-the-multilateral-development-banks/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }