BSS, Dhaka :
The Asian Development Bank (ADB) and other leading multilateral development banks (MDBs) on Tuesday issued a high-level joint statement affirming their commitment to mainstreaming nature into their policies, analysis, assessments, advice, investments, and operations.
The statement, which was launched at COP26 in Glasgow, recognizes the critical role nature’s ecosystems and biodiversity play in supporting the planet and people’s health, well being, and livelihood.
The MDBs pledged to work together to support a sustainable, inclusive, green, and resilient post Covid 19 recovery that upholds each bank’s respective environmental, climate, economic, gender, social, and institutional sustainability standards, supporting green growth and jobs, said a press release.
“The Asian Development Bank recognizes that protecting nature is essential to addressing climate change and building prosperity for all,” said ADB President Masatsugu Asakawa. “We endorse this common agenda to mainstream nature across our operations.”
It is estimated that at least 28 per cent of the $11.2 trillion in development finance institution investments in 2019 are highly exposed to the risks of biodiversity loss and ecosystem degradation.
The MDBs agreed to better work to understand this risk and tackle the drivers of nature loss and climate change by fostering and making “nature-positive” investments.
