Multilateral development banks announce accelerated adaptation measures
At COP30, institutions release a report presenting metrics, methodologies, and best practices to expand results. The Climate Investment Funds (CIF) announce a USD 100 million contribution from Germany and Spain
By Laura Marques/COP30
Multilateral Development Banks (MDBs) reaffirmed their commitment to strengthening and accelerating climate finance this Monday, November 10, the opening day of COP30, by presenting a report that introduces metrics and methodologies to allocate resources to nature and biodiversity. The document discusses best practices to expand results in resource application and highlights the bottlenecks that must be addressed to achieve this goal. Representatives from financial institutions and governments debated the topic at the High-Level Event on Adaptation with Presidents and Vice Presidents of Multilateral Banks and Climate Funds.
On this occasion, the Climate Investment Funds (CIF) reported that they will receive an initial contribution of USD 100 million from Germany and Spain for the ARISE (Accelerating Investments in Resilience and Innovations for Sustainable Economies) investment program, an initiative launched in October and considered exemplary by session participants. The German government contributed USD 63.25 million, and the Spanish government contributed USD 36.8 million.
At the opening of the event, COP30 CEO Ana Toni stated that the banks' efforts are a clear demonstration of the initiatives needed to comply with the Baku to Belém Roadmap. “This is exactly the kind of example we wanted from this COP: that it would be a COP of implementation, strengthening multilateralism and showing how people can be positively impacted by this energy transition,” she said.
The President of the Inter-American Development Bank (IDB), Mr. Ilan Goldfajn, called on financial institutions to promote climate adaptation actions before populations suffer even more from the impacts of extreme events caused by the climate crisis, such as floods and tornadoes. “The role of MDBs is to help countries prepare — to invest in resilience before the crisis happens, not after. That means scaling up finance, aligning systems, and putting resilience at the center of how we plan, build, and grow. Together, we can turn preparedness into protection and resilience into opportunity.”
The UN Assistant Secretary-General for Climate Action, Mr. Selwin Hart, warned that developing countries need greater attention from multilateral banks and governments to ensure climate finance that is faster and larger in scale, as these regions are already feeling the effects of rising temperatures more intensely than the global average. “What we need now is acceleration and scale. We need the leadership of multilateral banks more than ever to implement the Baku to Belém Roadmap,” he stressed.
One of the challenges highlighted in the discussion is the limited budget for Official Development Assistance (ODA) — financing from developed-country governments to developing nations.
Balance and goals
The document released by the MDBs, “From Innovation to Impact: Building Resilience for People and Planet,” states that the institutions are supporting the Glasgow goal of doubling adaptation finance since 2019, having provided over USD 26 billion to low- and middle-income countries in 2024, intending to reach USD 42 billion by 2030.
In 2024, MDBs provided USD 137 billion in climate finance for adaptation and mitigation and mobilized another USD 134 billion in private capital. Of these totals, US$85 billion and USD 33 billion, respectively, were directed to low- and middle-income economies. The institutions aim to reach USD 120 billion of their own resources and US$65 billion in mobilized private capital by 2030.
Challenges
The banks point out, however, that persistent barriers — such as fiscal constraints and limited project pipelines — continue to hinder progress in adaptation investments. As a solution, MDBs recommend efforts to strengthen coordination across government sectors, create clearer incentives for private-sector participation, optimize the use of concessional resources, and turn climate strategies into viable opportunities.