{"id":29526,"date":"2021-06-04T08:54:15","date_gmt":"2021-06-04T06:54:15","guid":{"rendered":"https:\/\/preprod.i4ce.org\/publication\/operationalization-framework-on-aligning-with-the-paris-agreement\/"},"modified":"2023-03-06T11:10:29","modified_gmt":"2023-03-06T10:10:29","slug":"operationalization-framework-on-aligning-with-the-paris-agreement","status":"publish","type":"publication","link":"https:\/\/staging.i4ce.org\/en\/publication\/operationalization-framework-on-aligning-with-the-paris-agreement\/","title":{"rendered":"Operationalization Framework on Aligning with the Paris Agreement"},"content":{"rendered":"<p>In 2017, the International Development Finance Club (IDFC) together with the group of Multilateral Development Banks (MDBs) made a joint commitment to \u201calign financial flows with the Paris Agreement\u201d. Since its commitment, the IDFC had focused its efforts on identifying what alignment means and implies. In 2018, the IDFC commissioned <a href=\"https:\/\/staging.i4ce.org\/wp-core\/wp-content\/uploads\/2019\/09\/I4CE_CPI_ESjoint_Aligning_with_the_Paris_Agreement.pdf\" target=\"_blank\" rel=\"noopener\">a study by I4CE and the Climate Policy Initiative (CPI) to establish a theoretical and conceptual basis for alignment and what internal changes it implies<\/a>. Moving a step further, the IDFC mandated NewClimate Institute and <strong>I<span style=\"color: #ff0000;\">4<\/span>CE<\/strong> to develop an operationalization framework on Aligning with the Paris Agreement. Beyond its usefulness for IDFC members, this &#8216;toolbox\u2019 can help all financial institutions in their journey to alignment.<\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">This Operationalization Framework is based on the premise\u00a0that\u00a0aligning with the objectives of the Paris Agreement is\u00a0a\u00a0comprehensive strategic process.<\/span><\/b><span data-contrast=\"auto\">\u00a0It\u00a0implies<\/span><b><span data-contrast=\"auto\">\u00a0<\/span><\/b><span data-contrast=\"auto\">that financial institutions\u00a0adapt internal priorities and procedures\u00a0to\u00a0make\u00a0all their activities\u00a0\u2018consistent\u2019\u00a0with\u00a0the Paris Agreement as soon as possible\u00a0and\u00a0support\u00a0the transformation of activities\u00a0and\u00a0value chains across sectors and countries.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">There is no single tool or metric that will allow an institution to align with the Paris Agreement.<\/span><\/b><span data-contrast=\"auto\">\u00a0Rather, a tailored combination of tools will be needed for each financial institution, based on its individual mandate, alignment objectives and strategy, its institutional culture as well as areas and sectors of interventions.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">A\u00a0number of\u00a0already available\u00a0tools, approaches and methodologies\u00a0allow financial institutions to begin immediately to\u00a0align\u00a0with the Paris Agreement.<\/span><\/b><span data-contrast=\"auto\">\u00a0Many tools have already been implemented as part of<a href=\"https:\/\/staging.i4ce.org\/go_project\/econcilier-developpement-et-climat-la-transition-vers-une-economie-bas-carbone-et-resiliente-au-changement\/secretariat-of-the-climate-action-in-financial-institutions-initiative\/\" target=\"_blank\" rel=\"noopener\">\u00a0financial institutions\u2019 climate mainstreaming efforts<\/a>. IDFC members and other financial institutions\u00a0can\u00a0therefore\u00a0build on this existing\u00a0experience and\u00a0learn from the\u00a0experience of their homologues to develop their alignment strategies.\u00a0These tools and methodologies\u00a0may however\u00a0need to be revised, adapted, or further developed to meet with the level of ambition of the Paris Agreement objectives.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">Given the required changes in how financial institutions operate,\u00a0aligning\u00a0with the Paris Agreement\u00a0must be seen as\u00a0a journey.\u00a0<\/span><\/b><span data-contrast=\"auto\">In\u00a0<\/span><span data-contrast=\"auto\">many instances, financial institutions will implement it step-by-step depending on their respective mandates and capacities; it is key that development banks prioritize their efforts.\u00a0<\/span><span data-contrast=\"auto\">The combination of tools and metrics used by financial institutions will evolve over\u00a0time\u00a0<\/span><span data-contrast=\"auto\">as they\u00a0continually review and develop new tools and approaches to respond to the societal, economic, and technological transitions.\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">This operationalization framework is designed to serve as an initial guide to assist IDFC members in the operationalization of their commitment.<\/span><\/b><span data-contrast=\"auto\">\u00a0It\u00a0is structured around the six principles of the 2018 IDFC position paper that lays out how members aim to achieve their alignment commitment. It<\/span><span data-contrast=\"auto\">\u00a0provides\u00a0guidance on tools and approaches\u00a0<\/span><span data-contrast=\"auto\">across\u00a0four main\u00a0principal\u00a0questions\u00a0around\u00a0Paris alignment:\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-contrast=\"auto\">\u2022\u00a0 Objectives: What concrete outcomes does my institution aim to achieve?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u2022\u00a0 Key aspects: What are the key aspects of each type of tool, what aspects do I need to pay attention to when using this type of tool? What changes may need to occur within my institution and who needs to be involved? What information do I need?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u2022\u00a0 Existing Approaches and Tools: What approaches and tools are available to make these changes? What are their strengths and weaknesses, how do they address the different dimensions of Paris-alignment?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u2022\u00a0 Use recommendations for Paris-alignment: What do I need to consider if I want to implement the principle to be fully Paris-aligned?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-contrast=\"auto\">As Paris alignment is a dynamic process, this operationalization framework will need to be revised, adapted, and further developed over time as IDFC members progress in this alignment journey and as new tools and approaches emerge.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2017, the International Development Finance Club (IDFC) together with the group of Multilateral Development Banks (MDBs) made a joint commitment to \u201calign financial flows with the Paris Agreement\u201d. Since its commitment, the IDFC had focused its efforts on identifying what alignment means and implies.<\/p>\n","protected":false},"featured_media":49867,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false},"type_publication":[49],"class_list":["post-29526","publication","type-publication","status-publish","has-post-thumbnail","hentry","type_publication-climate-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Operationalization Framework on Aligning with the Paris Agreement - I4CE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.i4ce.org\/en\/publication\/operationalization-framework-on-aligning-with-the-paris-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Operationalization Framework on Aligning with the Paris Agreement - I4CE\" \/>\n<meta property=\"og:description\" content=\"In 2017, the International Development Finance Club (IDFC) together with the group of Multilateral Development Banks (MDBs) made a joint commitment to \u201calign financial flows with the Paris Agreement\u201d. 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