The Asian Infrastructure Investment Bank (AIIB) and other international financial institutions (IFIs) are for the first time launching a joint video campaign, Investing for a greener world, to showcase their role in facilitating climate change solutions, ahead of COP27.
In addition to AIIB, the group of IFIs includes the African Development Bank (AfDB), Asian Development Bank (ADB), Black Sea Trade and Development Bank (BSTDB), Caribbean Development Bank (CDB), Council of Europe Development Bank (CEB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), Islamic Development Bank (IsDB), New Development Bank (NDB), the Nordic Investment Bank (NIB) and the World Bank Group (WBG).
The joint video aims to raise awareness of the impact of the IFIs’ climate action work through the personal stories of beneficiaries, from Saint Lucia to the Philippines, Romania and Uganda.
Together, the participating institutions have a global reach, across Africa, Asia and the Pacific, Europe and the Americas. Cumulatively, they invest billions each year in climate change mitigation and adaptation programs, providing a collective green response that is fast and transformative. This adds crucial firepower to tackling global warming and extreme weather wherever it occurs. Their combined impact drastically cuts CO2 emissions, promotes awareness about climate solutions and benefits millions of people.
“The alarming consequences of climate change are now impacting the world more adversely than ever before. It is critically important for IFIs to cooperate and communicate to achieve awareness of the ambitious action we are taking so that everyone understands the progress being made — and realizes the imperative for more aggressive measures to halve greenhouse gas emissions by 2030,” said AIIB President and Chair of the Board Jin Liqun. “Climate finance is deeply incorporated into AIIB’s Infrastructure for Tomorrow strategy, and we are committed to embracing broader and deeper partnerships to finance billions of dollars of climate resilient infrastructure that improves socioeconomic outcomes for billions of people worldwide.”
As strong allies for low carbon pathways, the IFIs help the countries in which they invest to seize the economic and social opportunities presented by the transition to a greener world. As investors and partners, they catalyze private sector mobilization and facilitate policy reforms conducive to greener practices. They also cooperate across regions to enable an exchange of knowledge and to deliver projects in response to the varied development needs of the economies in which they operate.
About AIIB
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 105 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.
