The report highlights the significant role development banks, such as CDP, play for supporting fossil fuels: CDP’s international energy investments and policies are currently rated as ‘Unaligned’ with the Paris Climate Agreement, scoring only 0.22 out of 3.00 points. The report delves into the primary reasons for this low score, including the absence of ambitious fossil fuel exclusion policies and sectoral emissions reduction targets, issues with reporting transparency, CDP’s complex relationship with the oil and gas major Eni, and the disparity between CDP’s domestic sustainability ambitions and its fossil fuel-dominated international energy investments.

With a thorough assessment of CDP’s international investments, the case study provides actionable recommendations for the Italian government and the public development bank to bring its portfolio in line with the Paris Agreement.