ADB and IFI Partners Launch Climate Finance Video Campaign Ahead of COP27
MANILA, PHILIPPINES: The Asian Development Bank (ADB) 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 ADB, the group of IFIs includes the African Development Bank (AfDB), Asian Infrastructure Investment Bank (AIIB), 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 about 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, the institutions 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. The combined impact drastically cuts carbon dioxide emissions, promotes awareness about climate solutions, and benefits millions of people.
“Climate change is the critical issue of our lifetime and the collective investment and impact of IFIs like ADB is an important part of the solution,” ADB President Masatsugu Asakawa said. “This joint production with our development partners gives us a visual reminder of the impact of climate change, but also shows how investment can help empower people across the planet to combat this crisis.”
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, the institutions catalyze private sector mobilization and facilitate policy reforms conducive to greener practices. The institutions 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.
Video Link: www.adb.org/news/videos/investing-greener-world
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
Source: adb.org
