Summary Ten leading development banks sign joint statementTo deepen collaboration across multiple themesNo mention of phasing out fossil fuel financingDUBAI, Dec 3 (Reuters) - Ten of the world's top development banks pledged to step up their climate efforts at the COP28 summit, yet failed to say anything about halting financing for fossil fuel projects, a document seen by Reuters showed.
In a statement to be announced at the event in Dubai, the group, including the World Bank and regional peers, said the window of opportunity to secure a liveable planet was "rapidly closing".
A new, joint Long-term Strategies Program, hosted by the World Bank, would coordinate support to help countries and sub-national entities develop plans around issues including decarbonisation and climate resilience.
The group also pledged to help countries set up platforms to encourage a "collectively reinforcing combination" of support including around policy reform, finance and technical assistance.
The banks planned to scale up finance to help countries adapt to the impacts of climate change, including through boosting support for disaster risk management, disaster preparedness and capacity building.
Persons:
Antonio Guterres, Bernadette Baum
Organizations:
Reuters, World Bank, United Nations, European Investment Bank, Thomson
Locations:
DUBAI, Dubai, Glasgow