AIIB unveils Climate Action Plan 2024-2030 for a stronger commitment on climate change
Designed to guide AIIB’s climate ambition from 2024-2030, the Climate Action Plan brings together the principles governing the Bank’s climate financing while identifying crucial action areas. AIIB has set ambitious targets, committing to allocate at least 50% of its annual financing approvals as climate finance by 2025. Let’s give a closer look to the CAP goals.
Contributing over 50% of global greenhouse gas (GHG) emissions, Asia’s effectiveness in addressing its unique climate challenges is of paramount importance to the sustainability of societies worldwide.
AIIB’s sectoral focus is on infrastructure, a sector that produces 79% of GHG emissions and accounts for 88% of adaptation costs, but which also provides key solutions for both climate mitigation and adaptation.
The Climate Action Plan (CAP) is a statement of intent to AIIB’s Members and partners, that serves as a compass for crafting climate solutions and directing climate financing. In fact, the document translates the AIIB’s climate ambition into key actions for a more effective partnership to meet the needs of its Memb