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CEB at COP28: Committed to Just and Socially Inclusive Climate Action

28 November 2023

CEB at COP28

PARIS - The Council of Europe Development Bank (CEB) is gearing up for its participation in the 28th Conference of Parties (COP28) of the United Nations Framework Convention on Climate Change (UNFCCC), to be held in Dubai, United Arab Emirates, on 30 November-12 December, 2023.

COP28 brings together representatives from nearly 200 nations as well as international organisations, businesses, NGOs and civil society to tackle, jointly, climate change— the defining crisis of our time. This year’s COP marks a shift beyond the traditional discussion of climate mitigation and climate adaptation towards a broader focus on development. The transition to a low-carbon global economy is not solely an environmental necessity but also comes with substantial social and economic challenges.

Our approach

The CEB is a multilateral development bank with an exclusively social mandate. The Bank therefore looks at the climate crisis from a social perspective. Recognizing the disproportionate impact of climate change on lower-income and vulnerable people, the CEB is committed to work closely with our borrowers and beneficiaries to ensure that the climate transition leaves no one behind.

Furthermore, the CEB firmly believe that the climate emergency worsens existing inequalities, making it crucial to address these disparities alongside with acting on the climate emergency. So by addressing inequality we strengthen the collective efforts in combating the challenges posed by climate change.

MDBs working together

COP28 puts particular emphasis on collaboration and coordination amongst MDBs. It is an important opportunity to reflect on progress MDBS have achieved together over the years. CEB fully endorses the MDB’s collective climate ambitions. Based on the joint MDB methodology, the Bank follows a comprehensive Paris alignment framework and a roadmap with the commitment to align all its lending activities with the Paris Agreement by 1 January 2024. This year, for the first time, the CEB’s climate finance data were fully integrated in the joint MDBs report.

To showcase these advancements and to forge fruitful debate and concrete actions, the CEB is proud to co-host the joint MDB Pavilion again this year. The pavilion will host a range of events throughout the duration of COP28 to ensure that climate issues remain firmly at the top of the policymaking agenda.

Agenda

The CEB delegation will be co-organizing as well as participating in a range of events at COP28:

December1 - MDB Country Climate and Development Platforms, 13:30 – 15:00

Link: https://www.youtube.com/watch?app=desktop&v=Ktf4G-sDSVk

December 2 - MDB Climate Finance and PA Reporting

December 2 - Addressing Energy Poverty: Social Impacts of Energy Efficiency Investments in the Housing Sector 9:30-11:00 (J-MDB Pavilion)

December 3 - Launch of country platform to accelerate a just energy transition for North Macedonia (NDC Partnership Pavilion (TA3-135), 17:00

https://www.youtube.com/watch?v=efqicd2BzTY

December 3 Maximizing Finance for Climate and Health – Joint Development Banks’ Approach, 13:30 – 15:00

Link: https://www.youtube.com/watch?app=desktop&v=4FHRCD90vTs

December 4 - Paris Alignment progress update (open and closed event) and/or Launch of Country Climate and Development Platform (CCDP)

December 4 - COP28 Presidency meeting with MDB Heads: Available, Accessible, and Affordable: Towards a climate finance architecture that delivers for all, 13:30-15:00, Al Waha Theatre

December 5 - Paris Agreement alignment: how can PDBs best respond to the expectations of the Paris Agreement? 09:00 – 10:30 , IDFC Pavilion

December 5 - Moving from principles to practice: An update on MDB support towards a just transition 13:30-15:00 (J-MDB Pavilion)

Link: https://www.youtube.com/watch?v=2gTWi1Jh3tg

December 6 - Mobilizing resources to scale up climate action and innovations in cities 13:30 – 15:00, J-MDB Pavilion

Link: https://www.youtube.com/watch?v=_bedpl6ttJg

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The Council of Europe Development Bank (CEB) is a multilateral development bank, whose unique mission is to promote social cohesion in its 43 member states across Europe. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with an excellent credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.

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