Climate Change Milestones at the AfDB

The Bank's engagement with the climate change agenda has been characterized as 'learning by doing'. For nearly a decade, the AfDB has remained steadfast in its efforts to reinforce the resilience of the African continent in the face of challenges it faces due to climate change by increasingly expanding its initiatives and expertise. Since 2011, the Bank has administered USD 7 billion for climate compatible development. Linked with the implementation of its Ten Year Strategy (2013-2022), which promotes the transition to green growth, the AfDB is committed to scale up the much-needed climate finance for the continent.

The following key dates and milestones highlight the Bank's involvement in the fight against climate change:

2007

AfDB

Confirmed as an implementing agency for the Global Environmental Facility (GEF)

2008

AfDB

Adoption of the Bank's Clean Energy and Investment Framework for Africa (CEIF)

Creation of the Quality Assurance and Results Department (ORQR), and its Environmental and Social Compliance and Safeguards Division (ORQR.3)

Confirmed as implementing agency of the Climate Investment Funds (CIF)

2009

AfDB

Adoption of the Bank's Climate Risk Management and Adaptation (CRMA) Strategy

Establishment of the Gender, Climate Change and Sustainable Development Unit (OSUS)

2011

AfDB

Creation of the Bank's Climate Change Coordination Committee (CCCC)

Adoption of the Bank's Climate Change Action Plan (CCAP) 2011-2015

COP17 takes place in Durban, South Africa (following COPs in Marrakech in 2001 and Nairobi in 2006) during which the first African Pavilion was established

2012

AfDB

A 92 percent increase in AfDB clean energy investments between 2011 and 2012, making the AfDB the leading financial institution of clean energy financing in Africaaccording to Bloomberg

Creation of the Sustainable Energy Fund for Africa (SEFA)

2013

AfDB

Publication of the first medium-term review of the Bank's Climate Change Action Plan (CCAP)

Bank's Ten Year Strategy (2013-2022) created with inclusive growth and transition to green growth as twin objectives

2014

AfDB

Creation of the Africa Climate Change Fund (ACCF)

Approval of first ClimDev-Africa Special Fund project

The AfDB mobilized USD 1.92 billion for climate finance in Africa in 2014.

2015

Since 2009, the AfDB has mobilized USD 7 billion in climate finance.

"The cost of inaction will be too high. We must act, and act decisively."

Akinwumi Adesina, AfDB President

Sept. 6, 2015

Contacts