Ahead of the Finance In Common Summit taking place on the 9th to 12th of November, 2020, the Global Initiative for Food Security and Ecosystem Preservation, together with other Civil Society Organisations under the umbrella of 350 Nigeria, delivered an open letter to the African Development Bank (AfDB) in Abuja, Nigeria calling on the bank to immediately put in place and publicly publish a finance exclusion policy on all fossil fuel projects.
The open letter, which had signatures from civil society organizations across Africa, encourages the AfDB to do more to contribute towards achieving net-zero emissions by officially and definitively disengaging itself from any current and future fossil fuel projects.
With the ambitious direction the Finance in Common Summit intends to address, we hope public development banks such as the AfDB will walk the talk by putting people before profit and by breaking down financial pillars that hold up the destructive fossil fuel industry.
By Ogho Agnes Udoko, Global Initiative for Food Security and Ecosystem Preservation.