The Inter-American Development Bank and other international financial institutions have agreed to launch a joint campaign for the first time, called Investing for a Greener World, in order to highlight their role in facilitating solutions on climate change issues on the eve of COP27.
The group includes the African Development Bank (AfDB), the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), the Black Sea Trade and Development Bank (BSTDB), the Black Sea Caribbean Development Bank (CDB), and the Asian Investment Bank For Infrastructure (AIIB), the Black Sea Development and Trade Bank. Council of Europe Development Bank (CEB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), Development Bank (IsDB), New Development Bank. (NBD), the Scandinavian Investment Bank (NIB), and the World Bank Group (WBG).
The joint video seeks to raise awareness of the impact of the work of international financial institutions on climate action through the personal stories of grant recipients, from Saint Lucia to the Philippines, Romania and Uganda.
Collectively, the participating institutions have a global reach that includes Africa, Asia Pacific, Europe and the Americas. In total, they invest billions of dollars annually in climate change mitigation and adaptation programs, providing a rapid and transformative collective green response. This measure provides a strong share of momentum for efforts to address global warming and extreme weather events, wherever they occur. Their combined impact significantly reduces carbon dioxide emissions and promotes awareness of climate solutions, while benefiting millions of people.
“The cooperation of international financial institutions plays a critical role, helping regions such as Latin America and the Caribbean to find solutions and accelerate the transition towards zero-emissions and climate-resilient economies,” said Rina Irene Mejia, Acting President of the Inter-American Development Bank.
Strong Allies In efforts to reduce carbon emissions, international financial institutions help countries that invest in them to take advantage of the economic and social opportunities offered by the transition to a greener world. As investors and partners, they catalyze private sector mobilization and facilitate policy reforms that lead to greener practices. They also collaborate across regions to facilitate knowledge exchange and project development that respond to the diverse development needs of the economies in which they operate. To embed the video in your media, please use this Link.
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