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
