The joint MDB methodology seeks to identify the links between adaptation activities and the project’s explicit intent to reduce vulnerability to climate change. Between 2021 and 2022, the MDBs carried out a review of the joint MDB methodology for tracking adaptation finance, while continuing to apply both the methodology and the joint MDB and IDFC (International Development Finance Club) principles. The outcome was an update to the methodology that reflected the evolving understanding of adaptation and climate resilience and advances made in the fields of adaptation finance.