民間資本動員を目指す多国間気候金融：デリスキング・アジェンダが国際機関をどう変えるか

Unofficial AI-generated summary based on the public title and abstract. Not an official translation.

🔬研究者:国際機関のデリスキング実践とその透明性課題を実証的に示す貴重な研究。

🏢実務担当者:民間資本動員を目指す気候金融案件の設計やリスク評価に活用できる。

🏛政策担当者:国際気候金融の資金使途と透明性確保の政策設計に重要な示唆。

Abstract In the last decade, international financial institutions have advocated that multilateral funding be leveraged to reduce the risk of institutional investors, such as pensions and mutual funds, mobilizing private capital for development and decarbonization. Have international organizations (IOs) that deliver climate finance adopted the de-risking agenda? How is it affecting their work? Through a text analysis of the replenishment documents of five IOs in the climate finance regime, and an assessment of Global Environment Facility (GEF) and Green Climate Fund (GCF) projects, we find that de-risking is reshaping IO activities in three ways. First, the central idea that multilateral climate funding should be used to mobilize institutional investors is widespread across IOs in the climate finance regime. Second, in funding this work, GCF and GEF act as financial advisers to states and domestic banks, erasing the traditional boundary between economic and environmental IOs. Third, when de-risking, IOs often commit multilateral funding to financial institutions to facilitate their lending, rather than to individual mitigation or adaptation projects. This represents a fundamental shift in how multilateral climate funding is spent and raises transparency issues that make it difficult to assess the efficacy of de-risking efforts.

• crossref https://doi.org/10.1162/glep.a.700first seen 2026-10-24 05:33:30 · last seen 2026-10-26 05:41:45