Subject to final agreements being put in place, the FCDO currently anticipates making available to the Private Infrastructure Development Group funding of £61,000,000 (sixty one million, pounds sterling) for the financial year 2022/2023. Funding decisions for financial years 2023/24 and 2024/25 are being considered as part of broader Official Development Assistance (ODA) resource allocation discussions.

The FCDO has disbursed a total of £297,678,27 to the Private Infrastructure Development Group in the period from 1 April 2018 to 31 March 2022.

The Private Infrastructure Development Group (PIDG) receives funding from a number of different donors and the UK Government does not receive a dividend. PIDG investment performance is measured according to a number of factors, primarily linked to the impact of the investments delivered for people and planet and the group's long-term trajectory towards financial sustainability. Performance measures include the number of new infrastructure investments delivered, the number of people expected to gain new or improved access from such infrastructure, jobs created, private sector investment leveraged, share of projects in Least Developed Countries, number of investments contributing to empowering women and the carbon intensity of the new investments.

PIDG reports annually on a calendar year on its expected development impact and financial performance and its latest report is available on the PIDG website at https://www.pidg.org/our-impact/our-2021-annual-review/. In 2021, PIDG financially closed 19 projects that are expected to deliver new or improved infrastructure for 8.8 million people. These projects attracted $2.3 billion of additional finance of which nearly $1 billion was private sector finance. In addition to these development results, the report also includes a 3-year comparison of value for money metrics tracked by PIDG and its financial results.

The Private Infrastructure Development Group (PIDG) is multi-donor funded and jointly owned by six governments (the UK, the Netherlands, Switzerland, Australia, Sweden, Germany) and the International Finance Corporation. All Owners have agreed a set of Group wide Tier 1 key performance indicators (KPIs) against which to track PIDG's performance. These are high level metrics that represent the key priorities the Owners have for PIDG and focus on mobilising private investment; investing in the poorest countries; and the impact of investments. These are reported and discussed quarterly with Owners and are as follows:

Tier 1 KPIs

a. Level of private sector investment mobilised by PIDG through its own investments in projects. Target multiplier is for Private Sector Investment/PIDG commitment in projects reaching financial close: to exceed 3.5x.

b Number of Projects in Least Developed Countries (LDC) and Other Low Income Countries. The target for new PIDG investments is that more than 50% are in LDCs.

c. Number of projects in Fragile and Conflict Affected States (FCAS): the target for new PIDG investments is that more than 45% are in FCAS.

d. Sustainable Development Impact (SDI) Rating - Average SDI Gauge: target is > 64.5.

The SDI rating is a metric that assigns a score to each investment according to its impact on people, planet and the wider economy. These metrics have been in place for 2 years and PIDG have met or exceeded the targets set in 2021 and is on track in 2022. The PIDG Board also sets a number of Tier 2 KPIs which they monitor and also share with Owners on a quarterly basis.

The UK Government has provided the Private Infrastructure Development Group (PIDG) with funding worth £116.5 million in financial year 2021-2022 and intends to provide it with funding of £61million in financial year 2022-23. The three PIDG programmes that received the largest amount of UK Government funding in financial year 2021-2022 were:

• InfraCo Africa Development/Investment: £52,720,000
• InfraCo Asia Development/Investment: £29,025,000
• PIDG Technical Assistance: £19,500,000

InfraCo Africa and InfraCo Asia originate, develop, structure, invest in and manage projects. They can make equity and debt investments in innovative and pioneering projects and remedy the absence of capital.

The allocation of UK Government funding across PIDG programmes in financial year 2022-23 has still to be decided.

CDC has published its complete portfolio of energy investments as held at 31 December 2019 on its website, which includes the start date of each investment and the total amount committed.

The value of Private Infrastructure Development Group (PIDG) commitments to energy projects (disaggregated by renewables and non-renewables) is published in the 2019 PIDG Annual Review available on the PIDG website. Project level data on all PIDG investment commitments are also available online via its Results Monitoring Database and its annual reports.

Due to the disproportionate cost of compiling the requested data, it is not possible to provide an estimate of the total value of support provided to overseas fossil fuels projects or companies via the CDC Group and PIDG.

During the last 5 years (2015-2019) the Private Infrastructure Development Group (PIDG), which is a multi-donor funded institution that receives funding from at least 5 countries and the World Bank, has made a number of infrastructure investments in developing countries to increase access to power, some of which use fossil fuels to generate electricity. Of these investments, US $292.86 million have been to projects using fossil fuels as a fuel source, the majority of which relate to gas-fired power. Over the same period, PIDG has invested US $571.05 million in renewable power projects. PIDG investments are made using ODA funds received from all PIDG owners, funds raised from the private sector and returns from its investments.

Data on all PIDG investment commitments are available online via its Results Monitoring Database and its annual reports. FCDO also publishes data relating to its funding to PIDG via DevTracker.

As the Private Infrastructure Development Group (PIDG)is a multi-donor funded institution, the FCDO has worked closely with its co-owners, which include DGIS (Holland), DFAT (Australia), SECO (Switzerland), SIDA (Sweden) and the IFC (part of the World Bank Group), to shift PIDG's investments further in favour of renewables. In June 2020, PIDG announced a new climate change approach to help developing countries transition towards a global net zero carbon economy by 2050, and will not make new investments in energy projects powered by coal or oil. Of PIDG's investments in the past 10 years, $547.7 million have been to projects using fossil fuels as a fuel source. Over the same period, PIDG has invested $715.6 million in renewable power projects. In the most recent 5 years (2015-2019) the balance has shifted further in favour of renewables, with 66% of all power generation investments being to renewable power projects.

Data on all PIDG investment commitments are available online via its Results Monitoring Database and its annual reports.

FCDO also publishes data relating to its funding to PIDG via DevTracker.

The Prime Minister has announced that the British government will no longer provide any new direct financial or promotional support for the fossil fuel energy sector overseas. There will be a few - tightly bound - exemptions allowed for activities that support health and safety improvements, form part of wider clean energy transitions, support decommissioning, or are associated with a humanitarian response.

This policy will help inform PIDG's own climate change approach. PIDG does not invest in the extraction, production or refining of crude oil, natural gas or coal. PIDG is already committed to the goals of the Paris Agreement, and has committed not to invest in any new energy projects that are not aligned with Paris.

During the last 10 years, the FCDO (previously DFID) has provided a total of £690 million of funding to the Private Infrastructure Development Group (PIDG). This figure is net of any reflows to FCDO, and includes funding which has been legally committed through Promissory Notes. FCDO publishes data relating to its funding to PIDG via DevTracker.

The UK was the first major economy in the world to make a legally binding commitment to reach net zero by 2050. As part of that commitment and global leadership on the issue the Prime Minister announced in January that the UK would end direct Official Development Assistance (ODA), investment, export credit and trade promotion support for thermal coal mining and coal power plants overseas. The UK will also continue to lead by example through aligning our ODA with the Paris Agreement temperature goals. This will include our support for CDC, the Private Infrastructure Development Group and other multilateral institutions.

PIDG’s strategy now rules out any investing in coal. This is in line with UK Government policy, including the recent announcement at the Africa Investment Summit.

Of the power generation projects which Private Infrastructure Development Group (PIDG) has supported, 2 use diesel and 5 use Heavy Fuel Oil (HFO) as primary fuel sources. PIDG funding has also directly supported diesel as a back-up fuel source for one solar power project.

Data on all PIDG investment commitments are available online via its Results Monitoring Database and its annual reports (https://www.pidg.org/). Data on the current net asset value of these investments is commercially confidential and not published.

Private Investment Development Group (PIDG) complies with international best practice standards and PIDG companies complete an Environmental, Social and Health Impact Assessment for each project in which they invest, before approving any such investment.

Each investment must comply with PIDG’s Environment, Social, Health and Safety standards, which are based on the internationally recognised International Finance Corporation Environment and Social Performance Standards. DFID monitors compliance with these policies as part of its ongoing role as a PIDG Owner.

PIDG does not hold data on projects specifically rejected on the grounds of environmental concerns.

The Private Infrastructure Development Group (PIDG) prioritises investments in renewables wherever possible. PIDG does not have any active fossil fuel extraction projects, and PIDG’s strategy rules out any investments in coal.

Data on all PIDG investment commitments are available online via its Results Monitoring Database and its annual reports (https://www.pidg.org/). DFID also publishes data relating to its funding to PIDG via DevTracker.

The value of Private Investment Development Group (PIDG) commitments to energy projects disaggregated by renewables and non-renewables is published in the PIDG Annual Review, which is available publicly online.

You can find it the 2018 annual review at: https://www.pidg.org/wp-content/uploads/2019/06/PIDG_2018_Annual_Review_MAY2019_Final_Digital-4.pdf

Historically Private Infrastructure Development Group (PIDG) has not measured the Green House Gases emissions associated with its investments.

However, it has now developed a methodology to measure the Green House Gases emissions associated with its investment portfolio and conducted an assessment of its portfolio beginning with the highest emitting sector, which is energy.

It will disclose the Green House Gases footprint associated with its investment portfolio going forwards as part of its commitment to Taskforce for Climate Related Financial Disclosures reporting from this year onwards (with the first disclosure in 2021).

Data on all PIDG investment commitments are available online via its Results Monitoring Database and its annual reports (https://www.pidg.org/). DFID also publishes data relating to its funding to PIDG via DevTracker.

DFID is one of a number of institutions who provide funding to the Private Infrastructure Development Group (PIDG). DFID has disbursed $1,036 million to PIDG between 2002 and 2018. During that time, PIDG has made investment commitments totalling $3,610 million.

During this 16-year period, PIDG has provided funding to 32 fossil fuel related infrastructure projects. These are principally investments in power projects in the poorest countries to increase access to power, some of which use fossil fuels to generate electricity. Nine of these funding commitments were in the form of early-stage advisory services.

Over the same period, PIDG provided funding to 35 renewable power projects.

Data on all PIDG investment commitments are available online via its Results Monitoring Database and its annual reports. DFID also publishes data relating to its funding to PIDG via DevTracker.

DFID has disbursed $1,036 million to the Private Investment Development Group (PIDG) between 2002 and 2018.

During this 16-year period, PIDG has made a number of infrastructure investments in the poorest countries to increase access to power, some of which use fossil fuels to generate electricity. Of these investments, (a) $396.6 million has been to projects using gas as a fuel source, (b) $1.7 million using coal, (c) $141.9 million using oil, and (d) $210.2 million with mixed or hybrid fuel sources. The coal funding was for early-stage advisory services provided in 2008 to a prospective power project in Indonesia.

Over the same period, PIDG has invested $711 million in renewable power projects.

PIDG does not invest in the extraction of fossil fuels, with the exception of one-off funding of $500,000 (£273,000) in 2004 for technical assistance to the Government of Mozambique on the feasibility of establishing a coal mine in the town of Moatize in Mozambique. No follow-on funding was provided to support this project. PIDG’s strategy now rules out any investing in coal.

The Private Infrastructure Development Group (PIDG) prioritises investments in renewables wherever possible. PIDG does not have any active fossil fuel extraction projects, and PIDG’s strategy rules out any investments in coal.

PIDG conducts an Environmental and Social Impact Assessment on all projects before approving any investment. Each investment must comply with PIDG’s Environment, Social, Health and Safety standards, which are based on the internationally recognised International Finance Corporation Environment and Social Performance Standards. This includes minimum requirements in areas such as use of natural resources, biodiversity, labour standards and land resettlement.