Environment

Background

What are the CIFs?

23 October 2013

Climate Investment Funds (CIFs) explained

The World Bank-housed Climate Investment Funds (CIFs) are financing instruments designed to pilot low-carbon and climate-resilient development through the multilateral development banks (MDBs). They are comprised of two trust funds – the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF). The SCF is an overarching fund aimed at piloting new development approaches. It consists of three targeted programmes: Pilot Program for Climate Resilience (PPCR), Forest Investment Program (FIP) and Scaling up Renewable Energy Program in Low Income Countries (SREP).

The CIFs operate in 48 countries worldwide. As of end June, donors had pledged $5.2 billion to the CTF and $2.4 billion to the SCF ($1.3 billion for PPCR, $639 million for FIP and $524 million for SREP). Projects are executed by multilateral development banks (MDBs): the African Development Bank (AfDB), the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the Inter-American Development Bank (IDB), the World Bank’s middle income arm, the International Bank for Reconstruction and Development (IBRD,) and its private sector arm, the International Finance Corporation (IFC).

Under the ‘sunset clause’ the CIFs are due to end once a new climate finance architecture is effective under the UNFCCC through a mechanism such as the Green Climate Fund (GCF).Climate Investment Funds (CIFs) website: https://www.climateinvestmentfunds.org/cif/

More background on this issue

Environment

Background

26 September 2018 | Inside the institutions

Carbon finance: The role of the World Bank in carbon trading markets

This Inside the Institutions looks at the role of the World Bank in carbon finance initiatives

Environment

Background

25 April 2017 | Minutes

On track to 1.5C: Mainstreaming climate and forest actions in MDB lending and country strategies

Notes from a meeting at the IMF/World Bank 2017 spring meetings on MDB actions on climate change and forests.

Environment

Background

7 October 2016 | Minutes

Safeguarding climate finance: GCF, MDBs, rights, and social/environmental risk

Notes from a side event at the IMF/World Bank 2016 annual meetings discussing lessons learned from the World Bank Group’s experiences with high risk projects, safeguards, gender equality, Indigenous Peoples, and environmental and social management systems, and how these should be applied to the Green Climate Fund.

IFI governance

Background

16 April 2015 | Minutes

Aligning the financial system with sustainable development

Notes from a meeting on the financial system and sustainable development during the World Bank/IMF spring meetings.

Environment

Background

29 September 2014 | Inside the institutions

World Bank green bonds

The World Bank group supports the growth of the green bond market through the IBRD and the IFC to “catalyse the market through strategic issuances of green bonds based on their triple-A ratings.”

Environment

Background

23 October 2013

Guide through key CIF meeting documents

Environment

Background

23 October 2013

What are the CIFs?

Environment

Background

14 October 2013

The economic case for climate action

Minutes from a World Bank/IMF seminar on climate change during the World Bank/IMF annual meetings 2013.

Environment

Background

3 October 2013

CIF civil society and indigenous peoples observers

Environment

Background

2 October 2013 | Project news

Dario Kenner joins the Project

Dario Kenner has joined the Project as a research assistant, focussing on private sector and climate finance.

Environment

Background

25 July 2008 | Minutes

Highlights: Meeting of UK NGOs with UK Alternate Executive Director to the World Bank

Meeting between UK NGOs and UK Alternate Execituve Director to the World Bank -Caroline Sergeant- on July 22, 2008.

Latest articles on this issue

Finance

News

IMF and World Bank complicit in “climate debt trap” following Mozambique cyclones

International community fails to deliver on 'Loss & Damage' while poorest countries become further indebted.

30 July 2019

Environment

News

Climate Investment Funds quietly postpone decision on how to implement ‘sunset clause’

CIFs indefinitely postpone decision on when they will close, prompting concerns CIFs recapitalisation drive will rival GCF replenishment.

30 July 2019

Environment

News

As Green Climate Fund and World Bank sign framework agreement, concerns about Bank's role linger

Bank and GCF finalise framework agreement, meaning nine co-financed projects can go forward.

4 April 2019

Environment

News

World Bank remains GCF interim trustee amid questions over long-term status

GCF’s permanent trustee will chosen through open bidding process with final decision expected to be taken in October

4 April 2018

Environment

Background

Carbon finance: The role of the World Bank in carbon trading markets

This Inside the Institutions looks at the role of the World Bank in carbon finance initiatives

26 September 2018 | Inside the institutions

Environment

Background

On track to 1.5C: Mainstreaming climate and forest actions in MDB lending and country strategies

Notes from a meeting at the IMF/World Bank 2017 spring meetings on MDB actions on climate change and forests.

25 April 2017 | Minutes

Environment

News

COP 23 puts Bank-backed climate insurance in spotlight

Lack of progress on Loss & Damage finance at global climate talks means climate insurance remains default option to mitigate losses from climate change.

6 December 2017

Environment

Analysis

Clean Technology Fund (CTF)

A revised Clean Technology Fund (CTF) pipeline management and cancellation policy has been approved. A document outlining further details on the proposed “CTF 2.0” will be discussed. Approval for reallocation of funds for a Morocco project was challenged by Germany and the decision postponed.

30 November 2016

Environment

Analysis

Pilot Program for Climate Resilience (PPCR)

Pipeline management and cancellation policies are in preparation for the Pilot Program for Climate Resilience (PPCR) to address funding constraints, with no funding available for new pilot countries’ projects. Questions were raised about gender impacts for a renewable energy project in Mozambique.

30 November 2016

Environment

Analysis

Forest Investment Program (FIP)

Challenges in measuring progress were noted for the Forest Investment Program (FIP), in particular greenhouse gas accounting. Investment plans for Mozambique and Ivory Coast have been approved. Questions were raised over the reasoning for a commercial teak plantation project in Ghana.

30 November 2016