Multilateral Development Banks agree to align climate change goals

Thursday, December 6, 2018

Multilateral Development Banks (MDBs) have established a joint framework for aligning their activities with the goals of the Paris Agreement, reinforcing their commitment to combat climate change.

In a joint declaration, the MDBs committed to working together in six key areas considered central to meeting the goals of the agreement, which aims to limit the increase in global temperatures to well below 2 degrees C, pursuing efforts for 1.5 C.

The declaration was issued at the start of the 24th Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP24) in Katowice, Poland.

Photo courtesy of Sudipto Sarkar.

Source: HydroWorld (link opens in a new window)

Environment, Finance
climate change, development finance