Climate change is one of the most pressing global challenges of our time, with far-reaching economic, social, and environmental implications. To address this crisis, trillions, not billions of finance are required for mitigation and adaptation efforts. Multilateral Development Banks (MDBs) play a pivotal role in climate finance, not only due to the capital they have at their disposal and accessibility to international markets, but also given their position working with governments and the private sector to create the conditions for investment and transformation. However, there are key structural and organizational barriers blocking accelerated efforts.
This panel session aims to look at structural changes that could enhance the impact of the MDBs, consider how private finance can be further mobilized, and consider whether more additional oversight would be helpful in reaching climate finance goals. It will consider whether MDBs working as a system could lead the way and serve as major sources of funding and expertise in accelerating the green transition and ensure this opportunity does not escape us.
