1. The world’s poor will suffer first and most from climate change. That’s why we’re involved.
2. We are one of many partners involved in climate finance.
3. To act effectively on climate change, many sources of financing are needed.
4. Providing financing for adaptation is a priority for us.
5. Developing countries want us to work with them on climate change. Our approach is changing rapidly to keep up with demand.
6. Our financing for renewable energy and energy efficiency has hit record levels.

1. Climate change is core to our mission. Development and poverty reduction will be severely impacted by climate change. Our mandate is to act.

• Developing countries will bear the brunt of climate change and its costs. The poor will suffer the earliest and the most from its effects.
   
• Developing country partners are seeking assistance to counter what is expected: a highly variable climate leading to more frequent and severe heat waves, droughts, storms, floods, and sea level rise.
   
• Limiting climate change by limiting the global mean temperature rise to 2°C by 2030 is expensive. For developing countries, it could cost an estimated $140-175  billion per year.
   
• Adapting to the impacts of climate change in developing countries is equally expensive. It will cost an estimated $70-$100 billion per yearthrough 2050.
   
• Resourcesthat have been committed so far to address mitigation and adaptation in developing countries cover just 5 percent of these needs.

2. A major global partnership has come together to make climate action happen on the ground. We are a part of that.

• The Climate Investment Funds(CIFs) were set up in 2008 following calls from the international community to do more. They are designed specifically to support developing countries in efforts towards low-emission and climate-resilient development. Fourteen donor countries pledged $6.5 billion for two funds—the Clean Technology Fundand the Strategic Climate Fund.
   
• Some 45 developing countries are now implementing transformations in clean technology, sustainable management of forests, increased energy through renewable energy, and climate-resilient development.
   
• At this point, all of the $6.5 billion in pledges have been allocated. The demand for CIF assistance outweighs current funding. As the implementation moves forward, there is a need for additional financing—at least to cover the gap between now and the time that the Green Climate Fund gets fully operational. 
• In the next five years, Clean Technology Fundinitiatives will help reduce approximately 1.5 billion tons of CO2—roughly the same as a third of the annual emissions of the European Union.
   
• Developing countries are in the driver’s seat. All CIF climate action plans have been built, owned, and led by the developing countries themselves.
   
• We are one multilateral partner in the Climate Investment Funds—others are the African Development Bank, Asian Development Bank, the European Bank for Reconstruction and Development, and the Inter-American Development Bank. These five partners jointly implement CIF-funded projects.
   
• None of the multilateral banks makes financing decisions on its own. Each fund is governed by Trust Fund Committees with equitable representation from donor and recipient countries. These Committees decide on program priorities, approve financing for projects, and oversee progress.
   
• The multilateral development banks are observers to the process, as are non-government organizations and community groups, among others.

3. We are innovating in developing new financing.

• We are a Trustee of 12 carbon funds and facilitiescapitalized at $2.74 billion, which are directly helping developing countries finance climate action. Sixteen governments and 66 private companies from various sectors, have made financial contributions to these funds and facilities.
   
• We introduced green bondsspecifically to finance climate mitigation and adaptation work in developing countries. To date, over$2.3 billion in Green Bonds have been issued through 43 transactions in 16 currencies.
   
• Our MultiCatprogram is a catastrophe bond issuance platform. It enables governments from developing countries to access affordable insurance coverage through the capital markets. Mexico used the platform to issue a $290 million series of notes in October 2009 to insure against earthquake and hurricane risks.
   
• We helped 16 Caribbean countries establish the Caribbean Catastrophe Risk Insurance Facility(CCRIF). It offers insurance against major hurricanes and earthquakes. Similarly, we worked to develop a Central American Weather Risk Management Program in Honduras, Guatemala, and Nicaragua to help farmers hedge against weather risk.
   
• Our Treasury monetizes Certified Emission Reduction certificatesfor the UN Adaptation Fund, with 9.5 million  CERs sold, raising nearly $163 million to finance adaptation projects in developing countries (as of June 15, 2011)
   
• The International Finance Corporation (our private sector arm) worked with Standard & Poors to develop the first Global Emerging Market Carbon Efficiency Index. Launched in December 2009, it gives carbon-efficient companies access to long-term investors..

4. Providing financing for adaptation is a priority for us.

• Finance from the International Development Association(IDA)—our fund for the poorest countries—to climate-affected sectors like agriculture, flood protection, water supply, and health reached $3.3 billion in FY2009. This is a 17% increase over the previous IDA funding cycle.
   
• We are the world’s largest source of finance for disaster risk reduction and reconstruction. Its disaster portfolio has steadily grown. Since 2007, the Bank has lent $9.2 billion through 215 post-disaster recovery projects.
   
• In FY09-11, close to two-thirds of all GFDRR-financed technical assistance initiatives support climate adaptation co-benefits, providing more than $63 million in over 50 disaster-prone low- and middle-income countries across all Bank Regions. This support leveraged an additional $153 million in co-financing from development partners.

5. Developing countries want us to work with them on climate change. Our approach is changing rapidly to keep up with demand.

• Four out of five countries we work with have now made climate change among their top priorities.
   
• In the past 12 months nearly 90% of Country Assistance Strategies include climate change as an important priority.
   
• During Fy09-11, we committed at least $11.4 billion in funding for climate-related development policy operations n 15 countries including loans to Brazil, Mexico, Morocco, Indonesia, and Turkey.
   
• The Climate Finance Options web platformlaunched in Cancun provides developing countries with access to the latest information on available funding for mitigation and adaptation.

6. Our financing for renewable energy and energy efficiency has hit record levels.

• The World Bank Group’s renewable energy portfolio increased from a total of $3.1 billion between fiscal years 2008-09 to $4.9 billion in 2010-11. Given the simultaneous expansion of the overall energy portfolio during the same period, the renewable energy proportion rose from 20% to 23%.
   
• We’re on track to meet our commitment to increase support for new renewable energy and energy efficiencyby nearly $8.8 billion over 2008-2012.
   
• Financing commitments for renewable energy projects increased to $1.5 billion in 2010, more than triple the amount committed in 2008. Energy efficiency lending increased 48 percent during the same period.
   
• In the most recent three-year funding cycle for IDA, we doubled funding for renewable energy and energy efficiency to an annual average of US$233 million. IFC has grown its clean energy investments at an average of 51% per year over the last four years to reach US$1,036 million in FY2009.