Multilateral Development Banks Commit to the Rio+20 Agenda for Inclusive Green Growth
19 June 2012: On the sidelines of the UN Conference on Sustainable Development (UNCSD, or Rio+20) six of the world's major multilateral development banks (MDBs) released a joint statement, which indicates their commitment to work together to support global transformation in line with the Rio+20 agreements.
The joint statement, titled "Delivering on the promise of sustainable development: Our commitment to the Rio+20 agenda for inclusive green growth," was endorsed by the following six MDB presidents: Thomas Mirow, European Bank for Reconstruction and Development (EBRD); Donald Kaberuka, African Development Bank (AfDB); Haruhiro Kuroda, Asian Development Bank (ADB); Werner Hoyer, European Investment Bank (EIB); Luis Alberto Moreno, Inter-American Development Bank (IDB); and Robert Zoellick, World Bank Group.
In the statement, the MDBs commit to supporting the transition to green growth, and recognize that market, policy, institutional, and other failures associated with the depletion of natural resources threaten the long-term sustainability of growth and social welfare achieved since the 1992 Earth Summit in Rio de Janeiro.
They underscore that Rio+20 provides a unique opportunity to launch a renewed strategy for sustainable development to meet the challenges of the post-2015 era. On the sustainable development goals (SDGs), the Banks indicate that they stand ready to support their clients as they take part in an agreed process for developing such goals. On climate change, they underscore their role in supporting the private sector in taking action on climate change and stress the importance of improving climate resilience towards long-term adaptation. On large-scale ecosystems, they express support for the protection and integrated management of ecosystems, such as the Amazon, the drylands and wetlands of Africa, and the Himalayas, as key to local poverty reduction and the delivery of ecosystem services. The Statement further underscores the Bank's support for: promoting sustainable transport; participating in the Sustainable Energy for All initiative; enabling a sustained flow of private sector investment in renewables and energy efficiency; and increasing efforts to promote more sustainable cities. [Delivering on the Promise of Sustainable Development: Our Commitment to the Rio+20 Agenda for Inclusive Green Growth] [EBRD Press Release] [AfDB Press Release] [ADB Press Release] [World Bank Press Release] [IDB Press Release]