Climate Assessment for Financial Institutions Tool - A World Bank Group Product (IFC-603697)

Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1.29 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 13, 2022

Disclosed by Bank Oct 14, 2021

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the IFC website:

The Climate Assessment for Financial Institutions, or “CAFI®” tool, is a first-of-its-kind leading impact monitoring and reporting tool developed by IFC for climate impact data evaluation. It is a digital, web-based platform that helps financial institutions assess the climate eligibility of their portfolio and measure its development impact. Using CAFI®, financial institutions can also verify whether or not a project meets internationally agreed-upon criteria for climate finance. Simplified processes of measurement and reporting by using CAFI® increase transparency and allows for seamless communications with internal and external stakeholders.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The CAFI tool enables FI users to easily monitor and assess the development impact of their Climate portfolio. By removing existing barriers to assess climate impact, the use of CAFI promotes the proper tagging of climate loans and avoids greenwashing of harmful activities financed worldwide.
CAFI includes criteria for eight categories: Renewable Energy, Energy Efficiency, Green Building, Adaptation, Blue Finance, Transport, Water Efficiency and Special Climate. It is a user-friendly tool which offers analytics functionalities, in addition to portfolio-monitoring. CAFI follows methodology and approaches that are publicly available and harmonized across multilateral development banks.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Project contacts not available at the time of disclosure.

 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works