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Climate Finance Bimonthly Newsletter - Issue N°42 - COP23 Special Edition - January 2018

15-Jan-2018

AS WE ENTER INTO 2018, I would like to extend best wishes and season's greetings to you both personally, and on behalf of AfDB’s Climate Change and Green Growth Department.

In this special edition of the Climate Finance Newsletter we present key highlights from the 23rd session of the Conference of the Parties to the UNFCCC (COP23) and the 13th session of the Conference of the Parties to the Kyoto protocol held in Bonn, Germany from 6-17 November 2017 under the presidency of the Fiji government. COP23 brought together over 26,000 participants and successfully demonstrated to the world that the implementation of the Paris Agreement is underway and the constructive spirit of multilateral cooperation on climate change continues, even though implementation guidelines are yet to be finalized.

The Bank actively participated in and organized several side events at COP23, including the high-level Africa Day event organized jointly with its partners. At the Africa Day, the Bank officially launched the Africa NDC Hub as a response to Africa’s needs for Nationally Determined Contribution (NDC) implementation. While COP23 was taking place in Bonn, the Bank approved its Climate Change Action Plan for the period 2016-2020 as a key instrument to translate the Bank’s commitments to increase climate finance (40% target) by 2020 and beyond. The same day, the Bank also signed an Accreditation Master Agreement (AMA) with the GCF aimed at scaling up Africa’s access to climate finance, by making full use of its accreditation to the Green Climate Fund (GCF), Global Environment Facility (GEF), Climate Investment Funds (CIF) and Adaptation Fund to mobilize additional finance.

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