AIIB Unveils Climate Action Plan, Reinforces Commitment to Tackle Climate Change

The Asian Infrastructure Investment Bank (AIIB) has launched its inaugural Climate Action Plan (CAP), a milestone in the Bank’s ongoing commitment to combatting climate change.

Designed to guide AIIB’s climate ambition from 2024-2030, the CAP brings together the principles governing the Bank’s climate financing while identifying crucial action areas that will steer AIIB’s investments in support of its Members. The document is a statement of intent to AIIB’s Members and partners. The CAP is a compass for crafting climate solutions and directing climate financing. It is a dynamic framework that can evolve to stay pertinent and impactful as the ramifications of climate change intensify.
“The Climate Action Plan demonstrates AIIB’s ambition to mobilize our capital, capacity and convening power to help our members in their efforts to address climate change,” said AIIB President and Chair of the Board Jin Liqun. “AIIB stands by our members in the face of climate challenges ahead. We must work together to rapidly reduce greenhouse gas emissions, strengthen resilience against the coming wave of extreme weather events, and safeguard the natural capital that makes life on earth possible.”
The battle against climate change will be decided in Asia, an engine of global economic growth facing heightened vulnerability to climate hazards. Contributing over 50 percent of global greenhouse gas emissions, Asia’s effectiveness in addressing its unique climate challenges is of paramount importance to the sustainability of societies worldwide. Early action offers the opportunity to bend the emission curve, support a just transition and pave the path toward low-carbon development while avoiding the legacy issues experienced by developed economies.
AIIB's CAP outlines four principles:
“This document marks one of the many important steps we must collectively take in our pursuit of a sustainable world free from climate havoc and other natural disasters to the greatest extent possible. We are moving forward on the right course, driven by the understanding that our actions today will shape the destiny of generations to come,” President Jin concluded.