Development banks told to ramp up green ambitions ahead of COP26

The world’s multilateral development banks (MDBs) must boost their green ambitions to stop carbon emissions from soaring in the most powerful economies, according to the ‘Climate Transparency Report 2021’. Covid-19 lockdowns caused carbon dioxide emissions from the energy sector to fall 6% in 2020, but a rebound of 4% is projected across the Group of 20 nations this year. Argentina, China, India and Indonesia are expected to exceed their 2019 emissions levels before next year.