Over 2018, the 42 public and private financial institutions participating in the Climate Action in Financial Institutions Initiative shared concrete examples of how the financial sector can contribute to the stock of global efforts to reduce emissions and enhance resilience. Supporting Institutions of the Initiative include the multilateral development banks, bilateral and domestic development banks as well as commercial financial institutions from around the world.
Through the sharing of examples of emerging practice, they have helped to assess the impact of efforts to date – as well as identify avenues for increasing collective ambition. For example, at the Global Climate Summit in San Francisco the Climate Action Initiative released a Joint Statement demonstrating how they are moving from commitment to action – both individually and collectively – in supporting local climate action.
This contribution is important as reiterated in the recently released synthesis report of the Talanoa Dialogue for Climate Ambition, there is a need for financial institutions to “continue to mainstream climate change considerations within their operations”.
At COP24, the Supporting Institutions of the Initiative will continue to share their experience, knowledge and practices in a series of events.
Over the two weeks, over 30 side events will present the existing and emerging practices and lessons learnt in events organized or co-organized by the Supporting Institutions of the Initiative.
>>> Discover the series of events <<<