To Luz Julieta Ligthart,
We acknowledge the receipt of your letter on the big shift from fossils to sustainable renewable energy. We note your concerns on the impact of fossil fuels on the environment and climate change. President Jin has asked me to respond to you on his behalf.
AIIB aims to create a better tomorrow for billions of people by investing in sustainable infrastructure in Asia and beyond. Based on our core values of Lean, Clean and Green, we work with our clients to connect people, services and markets that over time will improve economic outcomes in the region.
To meet the Paris Agreement goals and determine AIIB’s role within the global context, we developed the Sustainable Energy for Asia Strategy after extensive research and two rounds of public consultations. Based on what we heard from members, clients, partners and civil society, we determined our strategy should be informed by the principles underpinning Sustainable Energy for All (SEforALL), the 2030 Agenda for Sustainable Development, and the Paris Agreement. This approach creates a framework for AIIB to support our clients to: (i) develop and improve their energy infrastructure; (ii) increase energy access; (iii) facilitate their transition to a less carbon-intensive energy mix; and (iv) meet their goals and commitments under these global initiatives.
We recognize and respect your position on the role fossil fuels should play in the world’s energy mix if we are to meet the Sustainable Development Goals. As a green bank, we are also looking to do our part as expressed in the Paris Agreement. As a multilateral development bank, we see our role as enabling the path already chosen by our members as they strive to meet their NDCs. We are all aligned in our goals to create a low-carbon future. We only differ in determining how to get there.
AIIB was envisioned to be a modern, 21st century MDB focused on improving economic development in Asia and beyond. To achieve this goal, we must be transparent and accountable to our members, clients and people we are here to serve. We will learn from experience, listen to new ideas and be flexible in our ability to respond so we can find the best way forward.
We thank you for your ideas and suggestions about how we can be a greener bank. We welcome a healthy discourse on our work and will continue to be open to ideas and suggestions that will make us a stronger.
Asian Infrastructure Investment Bank