AIIB and Bloomberg to Collaborate on Clean Energy  

The Asian Infrastructure Bank (AIIB) and philanthropic organisation Bloomberg Philanthropies have announced they will partner on increasing the pace and scale of clean energy deployment and capital mobilisation across Asia. Michael Bloomberg, UN Secretary-General’s Special Envoy on Climate Ambition and Solutions and Founder of Bloomberg and Bloomberg Philanthropies, said: “Multilateral development banks play a critical role in fighting climate change, especially when it comes to unlocking capital for clean energy investments in developing countries.” As a major contributor to global emissions, Asia’s sustainable development is crucial for achieving the Paris Agreement objectives. With regional energy demand set to grow 3% a year until 2030 ensuring this demand is met with clean energy will be critical to meeting international climate goals. In the leadup to COP28 and the Global Stocktake, AIIB and Bloomberg Philanthropies will work together to support project preparation and implementation, innovative finance mechanisms and knowledge exchange and collaboration.

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