Washington, DC: A gaggle of worldwide monetary establishments (IFIs) are for the primary time launching a joint video marketing campaign, Investing for a greener world, to showcase their position in facilitating local weather change options, forward of COP27.
The group of IFIs contains the African Growth Financial institution (AfDB), Asian Growth Financial institution (ADB), Asian Infrastructure Funding Financial institution (AIIB), Black Sea Commerce and Growth Financial institution (BSTDB), Caribbean Growth Financial institution (CDB), Council of Europe Growth Financial institution (CEB), European Financial institution for Reconstruction and Growth (EBRD), European Funding Financial institution (EIB), Inter-American Growth Financial institution (IDB), Islamic Growth Financial institution (IsDB), New Growth Financial institution (NDB), the Nordic Funding Financial institution (NIB) and the World Financial institution (WB).
The joint video goals to boost consciousness of the impression of the IFIs’ local weather motion work via the private tales of beneficiaries, from Saint Lucia to the Philippines, Romania and Uganda.
Collectively, the taking part establishments have a worldwide attain, throughout Africa, Asia and the Pacific, Europe and the Americas. Cumulatively, they make investments billions every year in local weather change mitigation and adaptation packages, offering a collective inexperienced response that’s quick and transformative. This provides essential firepower to tackling world warming and excessive climate wherever it happens. Their mixed impression drastically cuts CO2 emissions, promotes consciousness about local weather options and advantages thousands and thousands of individuals.
As robust allies for low carbon pathways, the IFIs assist the international locations wherein they make investments to grab the financial and social alternatives introduced by the transition to a greener world. As buyers and companions, they catalyze personal sector mobilization and facilitate coverage reforms conducive to greener practices. In addition they cooperate throughout areas to allow an change of data and to ship tasks in response to the various growth wants of the economies wherein they function.
The IMF is supporting this initiative inside the context of its mandate to help its member international locations in addressing local weather change to safeguard their macroeconomic and monetary stability and promote financial progress.
IMF Managing Director Kristalina Georgieva mentioned: “The devastating impression of worldwide warming is already being felt world wide, so it’s very important that we step up efforts to chop emissions and increase resilience in susceptible international locations. We will solely succeed within the combat in opposition to local weather change via world cooperation, and the establishments of the worldwide monetary system have an important position to play.”