PROGRESS AND RESULTS
Each year, the CIF annual report measures progress, shows results, and details lessons learned. At the same time, these reports offer an opportunity for reflection, where best practices are noted and adopted in order to ensure the strongest efforts at creating a sustainable future. CIF annual reports therefore serve as signposts, providing the opportunity to both consider the past while looking ahead to the future.

There is no greater threat to our future than underestimating the challenges and opportunities presented to us by climate change. The urgency that sparked the creation of the $8 billion Climate Investment Funds (CIF) becomes more pressing each day. Since 2008, we have built a portfolio of over 300 investments in 72 developing and middle-income countries to scale up renewable energy and clean technologies, mainstream climate resilience in development plans and action, and support the sustainable management of forests. Although most programs and projects are still in the early stages of implementation, our funding has already contributed to over 3 gigawatts of new renewable energy capacity and close to 3 million people are already benefiting from CIF-supported climate resilience measures.

Since the CIF was established in 2008, the world has seen all too often the devastating effects of climate change, but also the opportunities that solutions present. Achieving a greener future is possible, and the CIF is well placed to share lessons on how communities and countries are testing new ways to meet their development aspirations while contributing to the global climate good. The CIF 2015 Annual Report shares how the $8.3 billion CIF is leveraging an additional $58 billion in co-financing from other sources to catalyze transformational change in 72 developing countries.

For the last six years, the Climate Investment Funds have been leading efforts to deliver investments at scale to empower transformations in the energy, transport, and forestry sectors and climate-resilient development. The CIF’s success is premised on a solid partnership with governments, citizen groups, private sector sponsors, the CIF governing bodies, and the five multilateral development banks. New pledges in 2014 push the CIF’s total contributions to $8.1 billion and will allow expansion of its programs.

The CIF has taken root and results are emerging as 48 pilot countries move from investment planning to implementation. Seventy-five projects and programs – about 32 percent of the CIF portfolio – are MDB approved and moving forward to support advances in clean technology, renewable energy, sustainable forest management, and climate resilience. New contributions received in 2013 have raised the total amount pledged to the CIF to $8 billion.

During 2012, the CIF’s fourth year, we are beginning to see the impact of the CIF’s triple focus on programmatic planning, innovative investments, and partnerships and multi-stakeholder engagement. Four years of planning and preparation in 49 countries translate into indicative allocations of more than $7.7 billion in CIF funds. To date, CIF funding for 66 projects in renewable energy, energy efficiency, clean transport, sustainable management of forests, and climate resilience has been approved.

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We have lifted millions of people out of poverty and lengthened life expectancy. But many of these improvements have come at the expense of damage to our biosphere and a host of adverse effects caused by climate change. Many of CIF’s partner countries have begun to revamp their energy plans around solar, wind, water, and geothermal services. This report highlights those achievements, and details CIF-supported accomplishments and challenges in 2011.

In just two years, the Climate Investment Funds have progressed from the initial design phase to the implementation of 38 pilots in developing countries and transition economies around the world. The design of these funds presents a new model for transparency, cooperation, and scaling up climate action.

Climate change poses a great challenge to the development gains of the past three decades. With the United Nations Framework on Climate Change (UNFCCC) discussions ongoing, the 18-month old Climate Investment Funds are an interim measure established to fill a financing gap for climate mitigation and adaptation until a new institutional arrangement for climate is in place.