WASHINGTON, September 14, 2020—IFC,
a member of the World Bank Group, has updated its first-of-a-kind online
climate impact measurement platform to make it easier for financial institutions
to assess the climate eligibility of their investments and estimate the
development impact of their climate-related activities.
Version 2.1 of the Climate Assessment for
Financial Institutions (CAFI) platform provides users with new insights
through rich graphics, enhanced climate metrics, and improved key performance
indicators. Users in low-bandwidth countries will benefit from a new “CAFI
Lite” feature. The platform incorporates feedback from IFC’s industry
experts and the broader community of financial institutions.
Today, 120 financial institutions have access
to CAFI, with $5.8 billion of climate disbursed loans reported through
the platform. The resulting impact captured through CAFI is an annual reduction
of 12.1 million tons of carbon dioxide equivalent, 26.2 GWh of renewable
energy generated, 1.1 million square meters of green area built, and 1.7
million cubic meters of water saved.
“Impact investing can grow when investors
seek companies that apply best-practice impact measurement platforms like
CAFI,” said Paulo de Bolle, Global Director of IFC’s Financial Institutions
Group. “By providing CAFI to market players within the financial services
industry, IFC is able to set new standards and educate stakeholders on
CAFI will continue to grow and evolve with
the climate finance sector. It will be updated to ensure its climate metrics
and eligibility criteria stay in line with IFC’s Definitions for Climate-Related
Activities and IFC’s GHG Reduction Accounting Guidance for Climate-Related
CAFI is available beyond IFC’s client base.
Anyone who invests at scale in climate friendly projects— multilateral
development banks, international financial institutions, banks, fund managers—may
access the platform, which is available here.
IFC—a member of the World Bank Group—is
the largest global development institution focused on the private sector
in emerging markets. We work in more than 100 countries, using our capital,
expertise, and influence to create markets and opportunities in developing
fiscal year 2020, we invested $22 billion
in private companies and financial institutions
in developing countries, leveraging the power of the private sector to
end extreme poverty and boost shared prosperity. For more information,