Since the 1980s, IFC has been a critical player in climate business and continues to be a leader in this space. IFC's climate businessis focused in the near term on five strategic areas - clean energy, climate-smart cities, climate-smart agribusiness, green buildings,and green finance. IFC is committed to working with financial institutions to finance projects that will support mitigation and adaptation. In addition, IFC has committed to aligning 85% of its new investment projects with the objectives of the Paris Agreement starting July 1, 2023, and 100% of these investments starting July 1, 2025.