(Finance) – Protection of the Mediterranean, development of sustainable infrastructures and Green Bonds in Africa, energy transition in the Western Balkans and a greater commitment with the members of the Long Term Investors Club – D20-LTIC, the club of the G20 financial institutions – in the protection of the climate: they are the central points of five new agreements signed on the occasion of the participation of a delegation from Cassa Depositi e Prestiti, led by the CEO, Dario Scannapieco, at the twenty-eighth edition of the United Nations Conference of the Parties (COP) on the environment, which is held this year in Dubai.
As part of the COP28 work, CDP – explains the note – promoted a meeting between the members of the D20-LTIC, the coalition of the National Promotion Institutes of the G20 countries, who approved a declaration of intent on the basis of which the parties undertake to strengthen collaboration on climate finance. Speaking during the event, Dario Scannapieco underlined the growing importance of climate finance and the role that NPBIs can play, due to their particular characteristics, in directing resources towards projects aimed at combating climate change.
In detail: the partnerships signed at COP28 aim to strengthen CDP’s commitment to sustainable development, ppriority for which it has allocated, in 2022 and in the first half of 2023, over 6.3 billion euros, of which 5.6 billion in the fight against climate change and the protection of the ecosystem and the remaining part for the sustainable development of emerging countries . Also in 2023, CDP also issued its first Green Bond of 500 million euros, the proceeds of which are intended to mainly finance infrastructure investments in the sectors of renewable energy, energy and water efficiency and sustainable mobility.
The accordsin particular, they provide for Cassa Depositi e Prestiti to join the Blue Mediterranean Partnership, multilateral initiative for ‘blue economy’ projects in the Mediterranean Sea; a partnership with the African Development Bank (AfDB) as part of the Global Green Bond Initiative (GGBI), which aims to develop green bond markets in emerging countries, membership of Macedonia’s Just Energy Transition Investment Platform (JETIP) of the North, a partnership which aims to support a fair energy transition in the country and a further 50 million euro loan to the African Finance Corporation, the continent’s leading multilateral development bank, for investments in renewable energy sources and sustainable infrastructure.
CDP – closes the note – “also plans to participate in various panels on the topics of the development of renewable energy, the reduction of greenhouse gas emissions and youth inclusionpromoted respectively by UN Global Compact, UNDP and Save the Children”.