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This report analyzes how public development banks (PDBs)—including national, regional, and multilateral institutions—can overcome structural and market barriers to expand climate risk insurance in emerging markets and developing economies (EMDEs). It emphasizes the role of PDBs as intermediaries that can co-develop insurance products, bundle coverage with loans, and provide technical assistance to strengthen local insurance markets and enhance economic resilience against physical climate hazards.

The Uganda Development Bank (UDB) has designed a Currency Risk-Sharing Facility (CRSF) to scale up local-currency climate lending through its Climate Finance Facility (CFF). Developed via the FiCS Innovation Lab with technical support from the Climate Policy Initiative, the University of Leeds, and City St. George’s University of London, the CRSF aims to reduce foreign exchange (FX) exposure for UDB when borrowing in hard currencies (USD/EUR) and on-lending in Ugandan shillings (UGX). The instrument employs a layered risk-sharing approach, combining partial hedging with a tail-risk FX guarantee to protect against severe UGX depreciation while remaining more affordable than full hedging.

The IDFC Green Finance Mapping Report 2025 analyzes the 2024 green finance commitments of 23 member national and regional development banks. While total green finance decreased by 13% to $173 billion, the majority of members increased their individual commitments. The report highlights a continued dominance of mitigation finance, a rebound in adaptation finance, and a growing but still limited focus on biodiversity and other environmental objectives.

The State of Green Banks 2025 report by the Climate Policy Initiative (CPI) analyzes the global landscape of green banks, focusing on their role in bridging a USD 7.4 trillion annual climate funding gap. Based on survey data from 51 public financial institutions, the report identifies four primary models for green banks—standalone de novo banks, enhanced public development banks (PDBs), green facilities within PDBs, and country platforms—and evaluates their suitability for different economic contexts, particularly in emerging markets and developing economies (EMDEs).

The 2025 Policy Bulletin: Climate Finance for Development, published by the Climate Policy Initiative and partners, provides actionable recommendations for Public Development Banks (PDBs) to accelerate low-emissions and climate-resilient development. It focuses on operationalizing Paris alignment, enhancing public-public collaborations, mobilizing private finance, and supporting just energy transitions in emerging markets and developing economies (EMDEs).

This executive summary from the Climate Policy Initiative (CPI) details the expanded tracking of climate commitments across 170 public development banks (PDBs) between 2015 and 2024. The report finds that climate ambition among these institutions is plateauing and remains insufficient to address the global climate finance gap, with fewer than half of the tracked banks pledging full alignment with the Paris Agreement.

This executive summary outlines how international development finance institutions (DFIs) and multilateral development banks (MDBs) can better collaborate with national development banks (NDBs) in emerging markets and developing economies (EMDEs) to increase adaptation finance flows. It identifies systemic barriers to cooperation and proposes five strategic recommendations to align international finance with national adaptation needs.

This report by the Climate Policy Initiative (CPI) and the Institute for Climate Economics (I4CE) examines how public development banks (PDBs) can align their operations with the Paris Agreement. It distinguishes between 'project-level alignment,' which focuses on consistency with national low-emission climate-resilient development pathways, and the 'portfolio-level net-zero' approach common in the private sector. The document evaluates 11 operational benchmarks—such as inclusion/exclusion lists and scenario modeling—and provides recommendations for PDBs to integrate these tools to maximize climate impact while maintaining their development mandates.

This report by the NewClimate Institute and the Institute for Climate Economics (I4CE) examines the role of public development banks in accelerating the early retirement of coal-fired power plants to align with the 1.5°C temperature goal. It outlines specific strategies and instruments for engaging national policymakers, utilities, and independent power producers (IPPs), while warning against risks such as moral hazard, emission leakage, and the indirect support of natural gas capacity.

A report by NewClimate Institute and the Institute for Climate Economics (I4CE) warning public development banks against funding abatement technologies and carbon credits for coal plants, arguing these may create perverse incentives that delay the phase-out of fossil fuel infrastructure.

This policy brief examines the integration of gender mainstreaming within climate finance, arguing that current efforts are often superficial and fail to address the root causes of gender inequality. It specifically highlights the role of public development banks (PDBs) as key vehicles for shifting financial flows toward gender-transformative climate action, recommending a move beyond 'women-focused' strategies toward a comprehensive approach that engages all genders to dismantle systemic power imbalances.

This report by the Climate Policy Initiative (CPI) analyzes the climate commitments of the 70 largest public financial institutions, representing USD 20.4 trillion in assets. It finds a significant gap in ambition, particularly among national and subnational development banks and institutions in non-OECD countries, where Paris-aligned and net-zero targets are rare. The report highlights a lack of specificity in climate finance goals, a deficiency in adaptation-focused commitments, and a general slow adoption of institutional climate strategies. CPI identifies insufficient accountability and a lack of government and global coalition guidance as primary barriers and provides recommendations to strengthen the integrity of public finance in the energy transition.

The IDFC Green Finance Mapping Report 2021 analyzes the green finance commitments of the International Development Finance Club (IDFC) members for the year 2020. It highlights a milestone where cumulative green finance since 2015 surpassed $1 trillion, while noting a 6% decline in new 2020 commitments due to the COVID-19 pandemic. The report introduces a new dedicated tracking mechanism for biodiversity finance alongside traditional climate mitigation and adaptation flows.

The Green Finance Mapping Report 2020, published by the Climate Policy Initiative, analyzes the 2019 green finance commitments of the International Development Finance Club (IDFC). It details a rebound in green finance to $197 billion in 2019, with a heavy concentration in climate mitigation and a growing trend in adaptation finance. The report also examines the distribution of these funds between OECD and non-OECD institutions and their alignment with the Paris Agreement.