To this end, a group of nine international financial institutions (IFIs)15 have been working towards a harmonised approach for accounting for GHG impacts of their project portfolios (World Bank, 2012). For example, the Carbon Footprint tool of the Agence Fran^aise de Developpement’s (AFD) can be used to conduct an ex-ante evaluation of the GHG impacts of proposed projects in a variety of sectors, measured in units of C02-eq(AFD, 2010). This enables AFD to track the climate impacts of AFD’s investments at the portfolio-level. It also allows potential climate impacts to be considered when making decisions on project design and ultimately funding for all projects and not just “climate” projects. ( For specific institution level guidelines, see e.g. IFC, 2013, EIB, 2012, GEF, 2011b, EBRD, 2010, OPIC, 2009.) These broader indicators include MW of renewable energy capacity installed, lifetime or annual GWh of energy saved, as well as hectares of deforestation and afforestation (e.g. SE4ALL, 2013, UK, 2013, IDB, 2012, CIF, 2012a, 2012c, 2011, GEF, 201 lb, AfDB, n.d.).