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.