2023’s resolutions for a reform of development finance

20 January 2023 - Foreword of the week - By : Claire ESCHALIER

2022 ended up on a consensus that the global financial architecture is no longer “fit for purpose”. In other words, the financial ecosystem created post-war to support international development – at the centre of which are the IMF and the World Bank who were joined later by other international public financial institutions – wasn’t designed to address the multiplicity of challenges the world is facing today, foremost among which climate change. Time is running, and the good news is that 2023 is set up to be a busy year with key events setting the milestones for a reform of the international financial architecture, including a Paris Summit in June. The year will close at COP 28, where we will officially take stock of current achievements.


As we prepare to face hard evidence that too little is being done too slowly, let’s use the positive spirit of January to outline what we would like to see in the next chapter. Deep and concrete changes are what we hope to look back on this time next year and, as explained by Alice Pauthier in her blogpost, two areas of work appear particularly critical for a successful reform. First, the new international financial system should be driven at country level, by the thorough identification of financing needs for sustainable development. Second, the focus of attention should not only be on the volumes of development finance: we should allow more consideration to its real impact on the transition of economies.


At I4CE, we have been and will be dedicating our efforts to contributing to these priorities: on the financial end, by supporting the debate on how to maximise the impact of public development banks; and on the economic end, by developing methodologies and tools to help countries assess their financing needs and pilot the transition. You’ll find out some more about these activities going through our newsletter.


Read more

I4CE Contacts
Senior project manager – Public financial institutions and climate Email
To learn more
  • 01/16/2023
    Landscape of climate finance in France – 2022 edition

    2022, France is paying dearly for a dependence on fossil fuels maintained by a chronic lack of investment in the decarbonisation of the economy. This edition of the Landscape of climate finance in France makes a detailed analysis of these critical expenditures by households, companies and public authorities, in the retrofitting of buildings, the purchase of electric vehicles, and renewable energies, as well as in rail, cycling and urban public transport infrastructures. Encouragingly, climate investments have increased significantly in the past year, driven, among other factors, by favourable regulations and by state support under the recovery plan. But this growth remains fragile, and analysis of several transition scenarios shows that climate investments need to increase further in order to stay on track to carbon neutrality and to ensure a lasting reduction in France’s dependence on fossil fuels.

  • 01/13/2023 Foreword of the week
    2023 agenda: there has never been a better time to act

    2022 was an eventful year in terms of climate. The year saw the emergence of a new concept, that of the polycrisis: war in Ukraine, the aftereffects of Covid, the return of inflation, the gas crisis, agricultural shortages, persistent droughts and other dramatic climatic events… all of these crises have ultimately pointed to our direct or indirect dependence on fossil fuels; our weaknesses when faced with a changing climate; and the vulnerability of our economies and the middle and lower classes.

  • 10/19/2022 Blog post
    Net zero commitments need to prioritise impact

    Over the past couple of years, the growing net zero commitments across financial institutions strengthened the focus on their portfolios’ greenhouse gas emissions. Yet, this focus does not guarantee emissions are truly reduced in the real economy. For that to happen, there is a pressing need for decarbonisation approaches focused on impact generation, with the appropriate indicators. According to Sarah Bendahou, Public development banks are in a unique position to adopt such approaches and indicators, paving the way for private financial institutions.

See all publications
Press contact Amélie FRITZ Head of Communication and press relations Email
Subscribe to our mailing list :
I register !
Subscribe to our newsletter
Once a week, receive all the information on climate economics
I register !