The Multilateral Development Banks (MDBs) have jointly committed to supporting a just transition. At the UN Secretary General’s Climate Action Summit in September 2019, the MDBs published a High-Level Statement, which set out their strategic priorities as they relate to climate change and the actions they would take to address them. This included a commitment to ‘help clients move away from the use of fossil fuels’ by supporting the development of long-term low greenhouse gas (GHG) emissions and climate resilient strategies, and by working ‘with national development banks and other financial institutions, to develop, by COP26, financing and policy strategies supporting a just transition that promotes economic diversification and inclusion’.
Following an initial stocktake of MDB activities relating to just transition, the MDBs have agreed to develop a set of high-level principles to help guide MDB support for a just transition, and to ensure consistency, credibility, and transparency in their efforts.
Read the full MDB Just Transition High-Level Principles document on AIIB's website.
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 104 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Working with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.
