“We are at a defining moment in history, which requires bold, swift and far-reaching collective action if we are to limit global warming and protect our fragile planet,” said Jin Liqun, president and chairman of the board of AIIB. .
“The announcement reinforces the Bank’s long-standing commitment to support climate action in line with the Paris Agreement. We believe that the way forward requires greater participation by the private sector on all fronts, so that we can collectively deliver on the promise of building an inclusive, equitable and sustainable future ”.
Liqun formally opened the annual session which this year is hosted by the UAE, stating that improving investment in adaptation and resilience for low-income members and promoting emerging technologies to drive action on climate change they are “key areas of interest”.
“We are in a decisive moment in history – specified Liqun -, which requires bold, rapid and far-reaching collective action if we want to limit global warming and protect our fragile planet, and strengthens the long-standing commitment of the Help support climate action in line with the Paris Agreement. We believe that the way forward requires greater participation by the private sector on all fronts, so that we can collectively deliver on the promise of building an inclusive, equitable and sustainable future ”.
Aiib is currently testing a rigorous process to ensure projects meet low-carbon and climate resilient standards consistent with the Paris Agreement. The approach is based on international standards and frameworks currently being developed in collaboration with other multilateral development banks. Ahead of COP26 in November, more than 130 countries have set or are considering a zero-carbon target by 2050.