NDB joins efforts with other multilateral development banks to contribute to COP28 Presidency’s Agenda on global transformative climate action, which includes scaling up climate finance, supporting the just transition of energy systems and the first-ever global stocktake of the Paris Agreement to assess collective progress.
In line with its General Strategy, NDB prioritises financing infrastructure and sustainable development projects that contribute to mitigating and adapting to climate change.
At COP28, NDB engages with global leaders to represent the climate ambitions of our members and partners from the emerging markets and developing countries.
Highlights
At COP28, Multilateral Development Banks (MDBs) issued the Joint Statement, reaffirming our commitment to socially inclusive, gender responsive and nature positive climate and development action.
Reflecting the urgency and scale of the issues to be addressed, MDBs are boosting joint action on climate and development and strengthening collaboration.
COP28 Flagship Presidency Event
Join NDB’s President H.E. Mrs. Dilma Rousseff and other MDB Presidents at COP28’s Flagship Event titled ‘Towards a Climate Finance Architecture that Delivers for All’ as they discuss how multilateral development banks can become better, bigger and bolder.
In her remarks, NDB President emphasizes local currency financing as a mechanism to safeguard the interests of emerging markets and developing countries.
Side Events
Capacity Building for Transition towards Low-emission and Climate Resilient Development Pathways
03 December 2023
New Development Bank (NDB) and the Institute of Finance and Sustainability (IFS) co-hosted a side event at COP28 in Dubai, UAE, to discuss the important role of capacity building in creating enabling conditions for an orderly and just transition towards low-emission and climate resilient development pathways. This Blue Zone event had opening remarks by Anil Kishora, NDB’s Vice President and Chief Risk Officer, and Ma Jun, President of IFS.
Navigating the Private Capital Mobilisation Journey for Emerging Markets and Developing Countries
04 December 2023
Emerging markets and developing countries will require between US$3 trillion to $6 trillion per year by 2050 to meet their climate targets. NDB’s side event at COP28 in Dubai discussed the wide range of instruments available to crowd in private capital and how NDB and other multilateral development banks can play a role. This Blue Zone event was moderated by Leslie Maasdorp, Vice President and Chief Financial Officer with panellists from Development Bank of South Africa, Climate Bonds Initiative, Asian Infrastructure Investment Bank, and Africa Finance Corporation.
The Just Transition outcomes and indicators: Are we on the right path?
06 December 2023
NDB and the Presidential Climate Commission, South Africa co-hosted a side-event at COP28 to discuss if emerging markets and developing countries are on the right path of Just Transition. The panellists at this Blue Zone event were Anil Kishora, Vice President and Chief Risk Officer, NDB; Calib Cassim, Acting CEO, Eskom Holdings; Crispian Olver, MD, Presidential Climate Commission, South Africa; and Vincent Gilles, CFO, Infinity, UAE.