Standardization, Data-Sharing, and Transparency
The MDB approach to climate finance would benefit from standardized instruments and methods, the sharing of historical financial data, and overall transparency on climate investments.
2030 Goals
- Improved data sharing, including wider use of the GEMS database.
- Harmonize and improve processes to access finance, lowering the burden of time, data, and effort.
- Harmonize and improve internal KPIs, including a key focus on the quality and ex-post impact of the finance provided.
StatusNo progress
No progress
- There is a significant call for more standardization, particularly data from international financial institutions to ease access to climate finance. Aside from the new WB Guarantee Facility, however, little is being done on the issue. A strong stakeholder push is likely required.
- Many EMDE FIs find that the data required to inform KPIs, and access climate finance, is difficult to obtain. This is particularly prominent in adaptation finance, as well as in GCF accreditation. Some developed economies are pushing for a harmonization of national taxonomies, while EMDE governments that have created taxonomies that are specifically designed to support their transition state that harmonization would damage their transition efforts.
- In October 2024, the GEMs Consortium Database, which draws on data from 26 MDBs, released two reports covering public/private lending and sovereign/sovereign-guaranteed lending, which for the first time included recovery rates in addition to default rates. These reports were in response to criticisms that the available GEMS data was too high-level and lacked the granularity needed to be useful in investment decisions. The G20 and others had called on the GEMS Consortium to provide more usable data to support investment decisions in EMDEs.
Relevant Actors & Audiences
Public FIs
DFIs
Multilateral Development Banks
African Development Bank (AfDB), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), European Bank for Reconstruction and Development (EBRD), Inter-American Development Bank (IDB), World Bank , European Investment Bank (EIB), Islamic Development Bank, New Development Bank (NDB - BRICS Bank), Council of Europe Development Bank
Supportive Stakeholders
Center for Global Development , Climate Policy Initiative, World Resources Institute
Milestones
The below events contain milestones related to Standardization, Data-Sharing, and Transparency.
April
WBG/IMF Spring Meetings 2025
Milestones
Standardization, Data-Sharing, and Transparency
MDBs discuss action on standardization, focusing on how countries and institutions can balance national taxonomies with international harmonization goals.
October
WBG/IMF Annual Meetings 2025
Milestones
Standardization, Data-Sharing, and Transparency
Continued momentum towards harmonizing national taxonomies and supporting data access to enhance climate finance for EMDEs. This includes reviewing the GEMS database's progress and pushing for more granular, actionable data.
November
UNFCCC COP30
Milestones
Standardization, Data-Sharing, and Transparency
Introduction of a more granular, user-friendly version of the GEMS database, enabling investors and stakeholders to make more informed decisions in EMDE markets.
Resources
The below resources all pertain to Standardization, Data-Sharing, and Transparency.
New GEMs Data Criticized for Lacking Granularity; But One Generality Praised
MDB Reform, Standardization, Data-Sharing, and Transparency
GEMS database criticisms
Inside three ways to improve direct access to green climate fund
MDB Reform, Standardization, Data-Sharing, and Transparency
GCF accreditation