Since inception, The Islamic Development Bank Group (IsDBG) has contributed to the development of renewable energy projects in its member countries by providing total financing of about USD2.75 billion. The bank also has taken the following actions to support environmental protection and mitigate Climate Change at its constituencies: (i) Made provision for environmental protection in all its project documents; (ii) Drafted environmental safeguard’s statements and commitments. (iii) Gained observer status with the UN Framework Convention on Climate Change (UNFCCC); (iv) Launched in 2014 the Renewable Energy for Poverty reduction (REPoR) program to tackle the energy challenges in the member countries via application of renewable energy resources; and (v) Adopted the Energy Policy calling for more Renewable Energy Financing.
IsDBG financing on climate change related projects increased from 1994 with a ratio of about 3% of the operation portfolio. Since then, the bank has recorded about 4% in 1996 and in 1997. From 2008, IsDBG participation in climate change related projects received a boost with a ratio exceeding 10%.
The 22nd session of the Conference of the Parties (COP22) to the UNFCCC will take place on November 7-18, 2016, in Marrakech - Morocco. During the event, COP22 parties will begin preparations for entry into force of the Paris Agreement adopted at the Paris climate conference (COP21) in December 2015, where 195 countries adopted the first-ever universal, legally binding global climate deal. The agreement, to be effective in 2020, sets out a global action plan to put the world on track to avoid dangerous climate change by limiting global warming to well below 2°C.
Countries, including IsDBG member countries, publicly outlined what post-2020 climate actions they envisage under the new international agreement, known as Intended Nationally Determined Contributions (INDCs).
During COP22, IsDBG will have a dedicated Pavilion (located in Innovation Exhibition 1) which will show case through a series of side events its initiatives and programmes related to climate change.