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Climate TagsMacro-fiscal resilience
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  • This research paper by the NewClimate Institute examines the alignment of 'policy-based operations' (PBOs)—unearmarked loans provided by public development banks in exchange for institutional reforms—with the Paris Agreement. The authors argue that current lending practices may undermine just transitions to carbon neutrality and propose a framework based on the 'do no significant harm' principle to ensure PBOs do not increase climate risk exposure and instead promote macro-fiscal resilience.

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    Themes: paris agreementpolicy-based financejust transitioncarbon neutralitymacro-fiscal resilience
    NewClimate Institute

    Document type: Research paper

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