The African Development Bank (AfDB) and other Multilateral Development Banks (MDBs) have agreed to develop a common approach for measuring and reporting climate results.
The AfDB, in a statement on its website, said MDBs had reported climate finance volumes, but this had not fully captured the tangible impacts of these interventions.
It said the new agreement aimed to provide a comprehensive understanding of the outcomes of climate investments, enhance learning, and identify areas needing additional support.
“The common approach adopted by MDBs ensures transparency, consistency and comparability across institutions and contributes to global efforts to establish standardised frameworks for assessing climate progress.
“It represents a significant advancement in how climate finance impacts are measured, reported, and utilised to drive effective climate action worldwide,” it said.
The statement said the new framework was structured according to global and country contexts and results from operations and institutional efforts.
It said: “the global and country context level integrates the latest climate science and sets the context for urgent action, referencing global greenhouse gas emissions and the vulnerability of populations to climate risks.
“Results from operations evaluate MDBs’ contributions to equitable, low-carbon, and climate-resilient development by tracking emissions from financing operations for mitigation and identifying beneficiaries of resilience-enhancing interventions.
“While institutional effort monitors the financial resources and technical assistance MDBs use to implement climate interventions.”
According to the statement, the common approach is not a new reporting mechanism but a tool to enhance harmonised reporting on climate outcomes across MDBs and other stakeholders.
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It said while MDBs already reported on climate outcomes, this unified approach offered significant benefits, including improved data aggregation, comparability, and learning opportunities.
“MDBs will continue refining this approach, working together to develop a set of common indicators.
“These indicators will track mitigation efforts by monitoring emissions from financing operations and, where possible, measure the beneficiaries of interventions to enhance climate resilience.
“Progress on these developments will be reported at future climate conferences,” it said.
The statement quoted Prof. Anthony Nyong, the Director of Climate Change and Green Growth at the AfDB, as saying “the milestones achieved are significant.
“This approach allows us to see what we are achieving in the countries we support and where gaps need addressing.
“It will help inform and refine MDBs interventions, ensuring our efforts are as effective and impactful as possible.”
The director said by adopting this unified approach to measure climate results, MDBs were taking a crucial step towards more transparent, accountable, and impactful climate action.
Nyong said the alignment with global climate goals ensured that their interventions delivered meaningful results on the ground.
” The collaborative efforts of MDBs in developing and refining this approach highlight a commitment to continuous improvement and responsiveness to the evolving challenges posed by climate change.
“As MDBs implement this common approach, they will not only enhance their operations but also contribute to the broader international effort to combat climate change,” he said.
