IDFC voices the Public Development Banks Coalition Commitment to align with the Paris Agreement Objectives

At the occasion of the 5th Anniversary of the Paris Agreement & the Climate Ambition Summit

IDFC highlighted the unprecedented PDBs Climate Commitments

12 December 2015 – 12 December 2020, for the  Paris Agreement 5th Anniversary’s celebration, IDFC the largest provider of public development and climate finance globally, spearheading the alignment with the Paris Agreement objectives since its creation, reiterated its engagement as a Club but also, for the first time, presented, as co-organizer of the Finance in Common Summit,  the launch of the global Coalition of all the Public Development Banks (PDBs), with a strong focus on climate action. 

At the invitation of the French President Emmanuel Macron to a Green and Climate Finance event under the main theme of “Climate finance, carbon neutrality perspective 2050” celebrating both the Paris Agreement but also the 3rd One Planet Summit (OPS)  Anniversary at the Elysée, the French Presidency Palace, along with head of states, international organizations and MDBs,  Rémy Rioux,  IDFC Chairperson reported on the joint declaration of the Summit with a focus on climate action, in line with the OPS core mandate.

Along with Mr. Rioux, Mrs. Antonella Baldino, Cassa de Depositi & Prestiti (CDP) Chief International Development Finance Officer, participated in the event, to support, as IDFC member, the benefits for national development banks, such as CDP,  to belong to the club and beyond to the PDBs coalition to foster the public banks efforts, at the local and international level, in boosting climate action and align their activities with the Paris Agreement objectives.

WATCH Remy Rioux Intervention 

Moreover, IDFC, through the voice of its Chairperson Rémy Rioux, had the opportunity to share the PBDs commitments towards the Paris Agreement Alignment with the organizers and participants of the Climate Ambition Summit 2020. Co-hosted by the United Nations, United Kingdom and France,  in partnership with Chile and Italy, the Climate Ambition Summit 2020 is a monumental step on the road to the UK-hosted COP26 next November in Glasgow.

The PDBs commitments to align their activities with the Paris Agreement are concrete. It would be reflected in means supporting the definition and implementation of ambitious NDCs, adaptation plans, and long-term strategy while also making sure that every project financed provides a positive contribution to our climate goals.

Read Remy Rioux full speech shared with the Climate Ambition Summit here.