PARLIAMENTARY WRITTEN QUESTION
CDC: Fossil Fuels (1 July 2020)

Since 2017, CDC has made new direct commitments to fossil fuel projects totalling $207.4 million ($84.8 million in 2017; $0 million in 2018; $122.6 million in 2019). During the same period CDC has made over $1 billion of commitments into climate related investments including renewable power, forestry and resource efficiency projects.

Last week, CDC published an ambitious Climate Strategy, which sets out a comprehensive approach to align all of CDC’s investing activities with the Paris Agreement, based on the core principles of reaching net zero by 2050, enabling a just transition and strengthening adaptation and resilience.

CDC is committed to Paris Alignment including net zero emissions by 2050 and will not make new investments in any business – either directly or through an intermediary fund – that is deemed to be misaligned with the Paris Agreement. CDC is targeting 30% of total investments to be committed to climate finance in 2021.

More information here: https://www.cdcgroup.com/en/news-insight/news/cdc-group-unveils-commitment-to-become-aligned-to-the-paris-agreement/.