The US International Development Finance Corporation (DFC) pledged over $3.7 billion in new climate finance investments for Fiscal Year 2024. DFC’s climate finance commitments have surged from less than $500 million four years ago to nearly $4 billion this year, reflecting its critical role in supporting US foreign policy and development goals. These new investments build on existing efforts to scale and mobilise private capital to address climate challenges worldwide.
“DFC recognises the enormous challenge climate change poses to communities across the globe, one that can set back global developmental and foreign policy objectives,” said DFC Chief Climate Officer (CCO) Anna Shpitsberg, adding, “We are continuing to meet partner and private sector demand by growing our financing year after year to address pressing challenges and the need to adapt. We are also helping communities capitalise on a once-in-a-generation opportunity to attract investment in energy diversification and climate solutions across nearly every sector of the economy.”
Highlighted at COP29, DFC’s new climate initiatives include enhancing food and water security, promoting energy security, and strengthening global energy supply chains, signaling DFC’s commitment to sustainable development across the globe.
