Dubai, UAE, 2 December 2023 – Islamic Development Bank (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser, has made an announcement on the official launch of the Bank’s “fair, inclusive, and just transition conceptual framework and action plan” to align with the Paris Agreement.

He made the announcement during an IsDB Group COP28 side event also addressed by UN Assistant Secretary General and CEO of African Risk Capacity Group , Mr. Ibrahima Cheikh Diong, and cabinet Ministers from Egypt, Kyrgyzstan, Turkiye, Cameroon, and Nigeria, as well as ILO Director for Priority Action Program on Just Transitions Dr. Moustapha Gueye.  

The IsDB Group side-event - titled "Charting the Course: IsDB Group's Journey Towards Paris Alignment" – showcased the Bank’s collective commitment to the climate agenda that as Dr. Al Jasser put it “encapsulates each of the Bank Group’s ongoing efforts to align its work with the objectives of the Paris Agreement.”

 “As Chairman of IsDB Group, I am proud to say that our Bank is proactively embracing this opportunity, aligning our strategies, investments, and operations to support our member countries in achieving their nationally determined contributions (NDCs). We are also committed to aligning our sovereign operations with the Paris Agreement by the end of this year, in line with our member countries' nationally determined contributions,” Dr. Al Jasser reiterated.   

“Our framework and action plan for alignment with the Paris Agreement stand as a testament to our dedication to facilitating the flow of climate finance, which is now close to reaching our target, supporting capacity-building efforts, and harnessing the power of innovation and technology for climate action within our member countries,” he explained.  

“This framework signals our readiness to collaborate with all stakeholders – governments, the private sector, civil society, and other development institutions – to harness the immense potential of the Paris Agreement for sustainable development.” Dr. Al Jasser added.  

Concluding his remarks, the IsDB Group Chairman stated: “As we look toward COP28 and our current role as Chair of the MDB Working Group on Climate Change, we seek to better coordinate efforts among MDBs at the country level and support the development of long-term national strategies. The IsDB Group stands ready to play its part, support our member countries, and work closely with our partners to accelerate climate action for a sustainable, resilient future.” 

The IsDB side event also saw a panel discussion on the subject attended by:

• H.E. Dr. Betta C Edu, Federal Minister for Humanitarian Affairs, Disaster Management and Social Development (FMHADMSD), Nigeria;
• UN Assistant Secretary General & CEO of African Risk Capacity Group Mr. Ibrahima Cheikh Diong;
• ILO Director for Priority Action Program on Just Transitions, Dr. Moustapha Gueye;
• AGRA President, Dr. Agnes Kalibata;
• IsDB Director Resilience & Climate Action, Syed Husain Quadri;
• Manager Climate Change and Environment, Dr. Daouda Ndiaye

The panel was moderated by Dr. Zeinab Usman, Director of Africa Program Carengie Endowment.