Programs

  • Public Financial Institutions Climate Advocacy

    BCA focused its efforts to align public financial institutions' (PFIs') investment policies and practices with the 1.5 degrees C warming limitation objective on the following Multilateral Development Banks: International Finance Corporation, World Bank, Asian Development Bank, European Bank for Reconstruction and Development, and Multilateral Investment Guarantee Agency. Closely coordinated and pursued with support from leading civil society organizations from the Global South and North, BCA's campaigns with these PFIs include: (1) BCA led written and oral legal advocacy to PFI management, member state shareholders, and accountability mechanisms; (2) legal research and analysis; (3) creation and use of evidentiary databases documenting a PFI's systematic failures to adhere to its climate policies and obligations under international law across all its investments; and (4) public outreach. BCA's efforts to improve and programmatically enforce PFI climate change policies that apply prior to financing decisions across a PFI's entire portfolio is needed to drive the systemic internal behavioral, cultural, and structural changes for a PFI to: cease financing fossil fuels; shift its financial flows to fair, just, and sustainable renewable energy infrastructure; fully account for and publicly disclose each investment's GHG emissions; and achieve as close to net zero GHG emissions as possible all investments. Without these significant reforms, PFIs will not be able to align their finance flows with the 1.5 degrees C objective and their human rights obligations.
    Geographies
    Not indicated
    Dates
    Jan 1, 2024 – Dec 31, 2024
    Source
    990
    No causes provided
    No populations provided
    –
    $129.1K