ľ¹ÏÓ°Ôº Group commitment on Paris alignment is part of a broader MDB vision to align all financial flows with the objectives of the Paris Agreement, as announced in 2017 and reiterated in the 2018 MDB joint declaration on Paris Alignment, supported by the Bank Group and the eight other MDBs. Close collaboration among ten MDBs has resulted in the development of joint MDB methodological principles to inform and facilitate the Paris Alignment assessments of their new financing operations. They have been developed through piloting work that has been going on over the past two years and which will continue. Building on these joint MDB principles, MDBs have developed their own methodological guidance and toolkits to be applied according to their internal processes and procedures to determine whether an operation is "aligned" or "not aligned" with the mitigation and adaptation goals of the Paris Agreement. MDBs will continue to work together to enable consistency and harmonization in the way the principles are applied across MDBs and update them as needed.
Joint methodological principles have been prepared for:
- Direct investment lending operations
- Policy-based lending operations
- Intermediated financing
- General corporate purpose finance.
Universally aligned and universally non-aligned lists of activities were also prepared and included in a separate section.
The World Bank Paris Alignment Instrument Methods are conceptually consistent with the joint MDB Principles. Given the nature of IFC and MIGA¡¯s business model and financing/guarantee instruments, IFC and MIGA will be using the joint MDB Methodological Principles for Direct Investment Operations, Intermediated Finance and General Corporate Purpose Lending in assessing investments against the goals of the Paris Agreement.
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