Banking on Renewables – CIDSE

Banking on Renewables

Statement to the multilateral development banks: Criteria for public investments in 100% renewable energy for climate, for people, for the planet 

CIDSE joins 59 civil society groups around the world calling on multilateral development banks (MDBs) to bank on renewable energy for a just transition to a 100% renewable future at COP29.  


In a joint statement, CIDSE together with other civil society organisations, assert that all public climate finance for renewable energy must be used to deliver a just and inclusive energy transition, while delivering universal energy access. The campaign calls for all public climate finance for renewable energy to uphold the following criteria: 

  • Criteria 1: Finance a transition towards a new 100% renewable future 
  • Criteria 2: Ensure a democratic energy system for all 
  • Criteria 3: Put people and nature at the heart of energy transition 

and proposes a ten point action plan for public finance institutions for MDBs to adopt immediately In consultation with civil society and project-affected communities. 



About the campaign: 

In response to the urgent need for global climate action, COP28 set a target to triple global renewable energy capacity by 2030, demanding a significant transfer of public finance towards the expansion of clean energy systems. The Banking on Renewables campaign asserts all public climate finance for renewable energy must be used to deliver a just and inclusive energy transition, while delivering universal energy access.  

To join the campaign, sign the statement: here  

Additional information on the criteria report and case studies in Africa and Asia (Kenya, Rwanda & Tanzania, Indonesia and India) are available: here 

CIDSE contact: Lydia Machaka, CIDSE Energy & Extractivism Policy Officer, machaka(at)cidse.org

Cover photo credit: UK Department for International Development

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