Public Development Banks’ Climate Commitments 2025Trends and progress of PDB climate ambitionDecember 2025Copyright © 2025 Climate Policy Initiative climatepolicyinitiative.org. All rights reserved. CPI welcomes the use of its material for noncommercial purposes, such as policy discussions or educational activities, under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) License. For commercial use, please contact adminsf@cpiglobal.org.ACKNOWLEDGMENTSThis report was completed with financial support from Sequoia Climate Foundation. Special thanks go out to Foundation staff members Sean de Montford and Hailee Donoghue for their guidance and feedback. The authors also wish to note our appreciation of Climate Policy Initiative (CPI) colleagues Barbara Buchner, Dharshan Wignarajah, Tini Thomas, Chris Grant, Nicole Pinko, and Costanza Strinati, for their review and suggestions, as well as Rob Kahn and Kirsty Taylor for editing support, and Angela Woodall, Pauline Baudry, and Elana Fortin, for design work.We would finally like to acknowledge the following experts for their engagement during the research and review process (listed in alphabetical order by affiliated organization): Luisa Nogueira and Cinthia Bechelaine (Development Bank of Minas Gerais); Seleha Lockwood and Viktor Ahlgren (E3G); Jean-Baptiste Jacouton and Laura Sabogal Reyes (Finance in Common); Sarah Bendahou and Blandine Arvis (I4CE); and Thomas Marois and Ali Riza Güngen (Public Banking Project).AUTHORSNeil Chin, Shreya Bansal, and Arjun RawalCONTACTNeil Chin Neil.Chin@cpiglobal.org ABOUT CLIMATE POLICY INITIATIVECPI is an analysis and advisory organization with deep expertise in finance and policy. Our mission is to help govern...
