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Executive Summary
The report critiques the AIIB's Climate-Focused Policy-Based Financing (CPBF) instrument, arguing that it contains significant loopholes regarding fossil fuel finance and lacks robust safeguards for human rights and gender equality. Based on an analysis of programmes in Brazil and Bangladesh, the authors find that while CPBF loans are counted as 100% climate finance, the funds are fungible and not tracked for specific climate outcomes. The document recommends banning all fossil fuel finance, strengthening the Project-affected Peoples’ Mechanism (PPM), and aligning Paris alignment methodologies strictly with the 1.5°C goal.
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Document type: Executive summary