The Caribbean Development Bank and 12 other international financial institutions (IFIs) are for the first time launching a climate finance joint video campaign, Investing for a Greener World, to showcase their role in facilitating climate change solutions, ahead of the United Nations Climate Change Conference 2022 (COP 27) starting next week.
The joint video aims to raise awareness of the impact of the IFIs’ climate action work through the personal stories of beneficiaries, from St. 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.
“As each IFI serves a particular region or constituency, our combined impact adds up to a substantial green footprint across the globe enabling judicious utilization of natural resources, environmental preservation and sustainable development, which means the benefits of today do not sacrifice the possibilities of tomorrow,” said CDB President, Dr Hyginus ‘Gene’ Leon.
The CDB statement said as strong allies for low-carbon pathways, the IFIs help the countries where 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 and 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, it added.
COP27 is scheduled for November 7-18 in Sharm el-Sheikh, Egypt.
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