Morandi, Paula, et al. (2024). 2023 IDB Climate Finance Database. IDB Open Data. https://doi.org/10.60966/s10a-j762

1. English

What is this dataset about?

The 2023 IDB Climate Finance Data provides a comprehensive view of the Inter-American Development Bank (IDB) Group’s climate-related investments across Latin America and the Caribbean.
It includes both project-level and aggregated data on financing dedicated to climate change mitigation, adaptation, and cross-cutting initiatives.

How much did the IDB Group invest in climate finance in 2023?

In 2023, the IDB Group committed approximately $6.3 billion in climate finance, representing 36% of total project approvals for the year.
This marks a new record for the institution, reaffirming its commitment to scaling up green and resilient investment in the region.

What are the main objectives of the 2023 climate finance portfolio?

The IDB climate finance 2023 portfolio supports projects that:

• Reduce greenhouse gas (GHG) emissions through renewable energy, clean mobility, and efficiency measures.
• Increase resilience and adaptation capacity in communities and ecosystems.
• Integrate climate considerations into public investment, policy reform, and infrastructure planning.

These efforts align with the Paris Agreement, the Sustainable Development Goals (SDGs), and the Bank’s Institutional Strategy on Climate Change.

Which countries received the most climate financing?

Top recipients of IDB climate finance in 2023 included:

• Brazil
• Mexico
• Colombia
• Argentina
• Chile

Together, these countries accounted for more than half of total climate-related commitments, with intense activity in energy, urban resilience, and agricultural sustainability.

What types of projects were financed?

Projects in the 2023 climate finance dataset are categorized as:

• Mitigation Finance — investments that lower GHG emissions (e.g., renewable energy, energy efficiency, sustainable transport).
• Adaptation Finance — projects that strengthen resilience to climate impacts (e.g., flood protection, climate-smart agriculture, water management).
• Dual-Benefit Finance — activities that contribute to both mitigation and adaptation goals.

What sectors received the most climate finance?

The most significant climate-related investments were directed to:

• Energy — clean generation, transmission, and energy efficiency.
• Transport — sustainable mobility and low-emission systems.
• Agriculture and natural resources — resilience, food security, and water management.
• Urban development — nature-based solutions and resilient infrastructure.

How were the climate finance amounts calculated?

All data follow the Joint Multilateral Development Bank (MDB) methodology for tracking climate finance.
This standardized approach ensures consistency and comparability across development institutions and over time.

How did 2023 differ from previous years?

The 2023 climate finance data show continued expansion in cross-sectoral and private-sector climate investments.
Compared to 2022, adaptation finance increased significantly, reflecting the growing importance of resilience and just transition initiatives.

What are the limitations of this dataset?

Users should note:

• The dataset reports approved commitments, not disbursements.
• IDB Invest data appear in aggregated form.
• Projects that address multiple climate goals may have shared allocations across categories.

How can this dataset be used?

Researchers, policymakers, and analysts can use the IDB Climate Finance 2023 dataset to:

• Track regional trends in climate investment.
• Evaluate progress toward institutional and global climate targets.
• Identify sectoral priorities in mitigation and adaptation finance.
• Support evidence-based climate policy design across the LAC region.