This report is an output of the Research Collaborative on Tracking Finance for Climate Action (OECD Environment Directorate) and contributes to the work programme of the OECD Environment Policy Committee. It benefited from internal collaboration with the Clean Energy Finance and Investment Mobilisation (CEFIM) programme, as well as with the Financing for Sustainable Development Division of the Development Co-operation Directorate. The report was co-authored by Mohammed Saffar, Chiara Falduto, Valentina Bellesi, Dominique Blaquier, and Sandie Xu under the guidance of Raphaël Jachnik. It further benefited from valuable insights and inputs from Cécile Sangaré and Tomas Hos.
The authors are grateful to the following OECD colleagues for their input and review: Geraldine Ang, Wiebke Bartz-Zuccala, Juan Casado-Asensio, Joseph Cordonnier, Jane Ellis, Katia Karousakis, Michael Mullan, Deger Saygin, Jens Sedemund, Hugo Valin and Robert Youngman.
In undertaking this analysis, the authors consulted a wide range of experts from governments, development finance institutions, commercial financial institutions, project developers, academia, and civil society, including: Lloyd Stevens and Sarah Hessel (Eco.business Fund/Finance in Motion); Christian Kleboth, Sumeet Manchanda, Camilla Otto and Simran Rooprai (European Bank for Reconstruction and Development); Aurélie Godefroy (European Commission); Gregor Cigüt, Marika Levena and Nancy Seich (European Investment Bank); Amanda Brockbank (Glasgow Financial Alliance for Net Zero); Lucila Bujanda and Marcelo Yangosian (government of Argentina); Ikuko Shirota (government of Japan); Felix Lomans (government of the Netherlands); Sarah Pettem and Amanda Penistone (government of the United Kingdom); Christian Déséglise (HSBC), Jozef Henriquez, Hilen Meirovich and Matthieu Pegon (IDB Invest), Kruskaia Sierra-Escalante, Erin Elizabeth Baldwin and Anjali Varma (International Finance Corporation); Guy Wilkinson (La Française); Chantal Naidoo (Rabia Transitions Initiative), Kevin Besancon and Mariella Morandi (French Treasury); and Svetlana Klimenko (World Bank). The authors would like to thank Ayesha Bery, Convergence Blended Finance for the provision of data.