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The Climate Policy Initiative (CPI) updated its tracking of climate commitments for the 70 largest public financial institutions (PFIs) in 2023, finding minimal progress in the adoption of net zero or Paris alignment targets since 2022.

This report by the Climate Policy Initiative (CPI) updates the tracking of climate commitments for the 70 largest public financial institutions (PFIs) for 2023 and analyzes the climate strategies of 49 smaller PFIs in emerging markets and developing economies (EMDEs). The findings indicate minimal progress among large PFIs, while smaller institutions often demonstrate higher ambition when supported by their national governments.