A new report by international Development Finance Institutions (DFIs) shows for the first time the scale of blended concessional finance to support transformative investments in challenging markets and deploy private sector funds to achieve the United Nation’s 2030 Agenda for Sustainability Development and the Sustainable Development Goals.
Increasing and improving the cooperation between multinational development banks (MDBs) has been recognised as a major step towards achieving the Sustainable Development Goals(SDGs), which were adopted by world leaders in September 2015 at an historic United Nations (UN) summit.
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So far, sustainable finance has mainly been debated within the financial sector. Whilst sustainable finance could become a useful tool to reorient capital flows towards sustainable investment, the greening of the real economy can only be achieved in cooperation with corporates. With this conference, AFEP (French Association of Large Companies) wishes to foster dialogue between corporates and policy-makers, investors, and other stakeholders to make sure that the Commission Action Plan actually delivers results.
Luxembourg’s key global role supporting sustainable finance was highlighted at the official launch of the European Investment Bank’s first Sustainability Awareness Bond earlier today.
The joint initiative, worth €21 million, was launched during yesterday’s One Planet Summit in New York. Less than a year after it was announced by French President Macron at the 2017 edition of the Summit, the EU, France, Australia and New Zealand have joined forces to make it a reality.
The European Economic and Social Committee (EESC), together with ECOLISE, the European network for community-led initiatives on climate change and sustainability, and the Committee of the Regions (CoR), held the conference on “Civil Society and Municipalities: building sustainability through collaboration” on 20 September. It took place as part of the 2nd European Day of Sustainable Communities.
Europe is committed to leading the fight against climate change. To underline its leadership, the Commission presented a comprehensive set of 10 transformative initiatives, the Action Plan for the Planet, at the inaugural One Planet Summit in Paris last December. In New York today, Vice-Presidents Maroš Šefčovič and Valdis Dombrovskis and Commissioner Neven Mimica will update Heads of State and Government, businesses leaders and civil society on the main achievements to date under these initiatives in support of climate action.
Sustainable transport, renewable energy, industrial innovation, social housing, internet and mobile telecommunications investment will benefit from EUR 5 billion of new financing approved by the European Investment Bank (EIB). During the two-day meeting in Bucharest this week the Board of the European Investment Bank decided to support transformational projects across Europe, Asia, Latin America and the Middle East.