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Multilateral Development Banks release plan for net-zero transition
Investors - NOVEMBER 1, 2021

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Multilateral Development Banks release plan for net-zero transition

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The European Investment Bank (EIB) is joining seven other Multilateral Development Banks (MDBs) in committing to a just transition that supports countries and other clients moving towards net-zero emission economies.

The MDBs today released a joint statement outlining their commitment to five high-level principles for a just transition. The statement outlines how the MDBs will support countries and other clients in moving away from the use of fossil fuels and toward low greenhouse-gas emissions and climate resilience in a way that shares the costs and benefits, while supporting and protecting communities, industries and workers.

The MDBs will work with national-development banks and other financial institutions to develop financing and policy strategies supporting a just transition that promotes economic diversification and inclusion.

“To meet the Paris cli

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