The Nordic Investment Bank (NIB) and other international financial institutions (IFIs) are for the first time launching a joint video campaign—Investing for a greener world—to showcase our role in facilitating climate change solutions, ahead of COP27.
The group of IFIs includes the African Development Bank (AfDB), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), Black Sea Trade and Development Bank (BSTDB), Caribbean Development Bank (CDB), Council of Europe Development Bank (CEB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), Islamic Development Bank (IsDB), New Development Bank (NDB), the Nordic Investment Bank (NIB) and the World Bank Group (WBG). The IMF is supporting this initiative within the context of its mandate to assist its member countries in addressing climate change to safeguard their macroeconomic and financial stability and promote global growth.
Together, the participating institutions have a global reach, across Africa, Asia and the Pacific, Europe, and the Americas. Cumulatively, they invest billions each year in climate change mitigation and adaptation programmes, providing a collective green response that is fast and transformative. This adds crucial funding to tackling global warming and extreme weather wherever it occurs. Their combined impact drastically cuts CO2 emissions, promotes awareness about climate solutions and benefits millions of people.
“As an international financial institution, NIB is committed to provide long-term financing to promote renewable energy, energy efficiency and other measures of abating and adapting to climate change. We need to solve the climate challenge in line with the Paris Climate Agreement whilst building resilient, prosperous, and well-functioning societies. This joint campaign with other international financial institutions shows our collective investment for a greener world,“ says André Küüsvek, NIB President and CEO.
As strong allies for low carbon pathways, the IFIs help the countries in which they invest to seize the economic and social opportunities presented by the transition to a greener world. As investors and partners, they catalyse private sector mobilisation and facilitate policy reforms conducive to greener practices. They also cooperate across regions to enable an exchange of knowledge and to deliver projects in response to the varied development needs of the economies in which they operate.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.