KfW climate financing
The United Nations Climate Change Conference (COP23) took place from 6 to 17 November 2017 in the Federal City of Bonn, Germany, and was presided over by the government of Fiji.
Working together with partners from across the world, the objective was to harness the momentum of the 2015 Paris Agreement. Implementation of the agreement was to be given concrete form and driven forward at the 23rd world climate change conference to limit global warming well below two degrees Celsius.
KfW's commitment to climate and environmental protection
Promoting climate and environmental protection has been a key objective of KfW for many years already. In the 1950s, KfW was the first German promotional institution to fund measures aimed at protecting the environment. Today, KfW is the most significant climate and environmental bank in Germany and the largest financier of the energy transition. For example, KfW Group invested EUR 35 billion in this field around the world in 2016, which means 44% of its total promotional business volume.
Green Climate Fund (GCF)
The GCF is a key instrument for implementing the resolutions passed at the UN Climate Change Conference in Paris. KfW was the first institution to gain GCF accreditation and the first project that it proposed has since been approved: the construction of flood shelters in Bangladesh. KfW signed a master agreement with the GCF at the end of 2016. This complex agreement sets out the rights and responsibilities of the GCF, the accredited institutions and their implementation partners.
Sustainability as a promotional mandate
As of November 2017