USD 95 billion in green financing in 2012
Green financing is a wide term that may refer to financial investments that flow toward projects and initiatives for sustainable development, environmental products, and policies that promote a more sustainable economy.
With the idea that transition toward a green economy needs climate financing to support developing countries to adapt to climate change and adjust to a new low carbon path, the International Development Finance Club (IDFC) developed a study with results that have been published in this second edition with 2012 data.
The IDFC was established as a group of 20 national, bilateral, and regional banks that share a similar vision regarding finances for development and the challenges that climate change presents at a world level for the international community. The members of the IDFC are distributed in Africa, South America, Asia, and Europe.
One of the most outstanding initiatives of this group of development banks is the preparation of a Green Financing Map. The development of the map revealed that in 2012, the IDFC contributed USD 95 billion to green financing, that is, an increase of USD 5 billion with respect to the figure reported in 2011, year in which the first green financing map was presented.
The Club's work places access to energy and the offer of clean energies at the center of the development agenda. In this respect, one of its essential purposes is to mobilize the green growth potential while at the same time supporting mitigation and adaptation to climate change activities.
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