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:
Adoption of the Bank's Climate Risk Management and Adaptation (CRMA) Strategy
Establishment of the Gender, Climate Change and Sustainable Development Unit (OSUS)
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
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)
Since 2009, the AfDB has mobilized USD 7 billion in climate finance.