Bank climate change commitment

African Development Bank Climate Change’s Commitment :

The African Development Bank is spearheading efforts to help Africa tackle climate change and continues to show leadership in accelerating and scaling climate action across the continent. There is clear client demand for partnership with the Bank on transformative programmes; most importantly, the Bank is considered an honest broker by African stakeholders and its shareholders acknowledge its efforts on climate action.

The African Development Bank prioritizes mainstreaming climate change and green growth in its operations and has committed to incorporating climate-informed design into 100% of its investments.

The Bank continues to make progress in driving Africa’s transition towards greater climate resilie nce and a low-carbon development path, in line with the second Climate Change Action Plan 2016-2021, and it is on course to meet the following commitments made under this Action Plan:

1. Allocating 40 percent of project approvals to climate finance by end of 2021, with equal proportions for adaptation and mitigation.
2. Mainstreaming climate change and green growth into all Bank investments by end of 2021.
3. Securing significantly increased access to climate finance for low-income African countries with a target of $25 billion by 2025 and positioning Africa’s financial sector at the forefront of financing innovations.

 

AfDB Climate Change Page