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 Members.
What are its principles and targets?
CAP has developed a climate finance target of at least 50% of all financing approvals by 2025 and is aligning all its financing operations with the Paris Agreement.
