NIB addresses the Coalition of Finance Ministers for Climate Action

In light of the International Monetary Fund and World Bank Annual Meetings, the Coalition of Finance Ministers for Climate Action held its 8^th Ministerial Meeting in Washington D.C. on 12 October. NIB attended the meeting as an institutional partner.

The Coalition discussed the macroeconomic and financial policy aspects of the green transition, especially within the energy sector. NIB President & CEO André Küüsvek addressed the Finance Ministers and Coalition partners on the Bank’s role in times of crisis brought by the Russian aggression in Ukraine.

“Urgent action improving energy security and accelerating the transition to a low carbon economy helps us to build resilience in a sustainable way. The task ahead is clear. We – governments and your institutional partners – need to navigate between short-term challenges and the long-term climate action,” said André Küüsvek in his address. “NIB stands ready to step in at the time when commercial banks and private investors become more reluctant to invest.”

Before the meeting, André Küüsvek gave his remarks in a video:

NIB joined the Coalition of Finance Ministers for Climate Action as an institutional partner in 2021 to support the efforts of Finance Ministers in designing and implementing policies to address climate change.

Currently, the Coalition brings together fiscal and economic policymakers from 78 countries in leading the global climate response and in securing a just transition towards low-carbon resilient development. Read more here.