The 2018 edition of the joint report on climate finance by the world’s largest multilateral development banks (MDBs) reveals that nearly $43.1 billion was allocated to developing and emerging economies in 2018 to boost projects that help these nations cut down on emissions and address climate risks, especially after the adoption of the Paris Agreement in 2015. The Paris Agreement is a global climate change plan that was agreed upon by the United Nations at the Paris Climate Conference in 2015.