Youth, Climate Funds, and MDBs: Forging Meaningful Partnerships Towards More Inclusive Climate Action

Friday, November 5 - The Climate Investment Funds (CIF) and The European Bank for Reconstruction and Development (ERBD) co-hosted a COP26 youth event, “Youth, Climate Funds, and MDBs: Forging Meaningful Partnerships Towards More Inclusive Climate Action”. The event is focused on the working relationships between multilateral development banks (MDBs), climate funds, and youth climate action activists and seeks to find ways in which the three entities can support and collaborate with one another to advance youth climate action work. Additionally, CIF released a consultation note, “Towards a Youth Engagement Strategy (YES)” - developed with feedback from youth climate leaders through consultations and a survey that contains recommendations and opportunities for CIF to better engage and benefit youth. 

CIF had previously hosted two rounds of dialogue with youth leaders on how CIF could better engage young people in its governance and operations. In January, 2021, at a CIF-hosted virtual YES Technical Peer Review, the YES strategy was presented with three core aims. 

• Increase the participation of youth leaders in the governance of CIF, including as CIF Observers, who participate in CIF governance committees, help to formulating climate strategies, and monitor climate projects. 
• Support local youth climate resilience initiatives. 
• Collaborate with young people and promote their vital role in tackling climate change. 

In October, CIF held the second dialogue and completed its discussions and the consultation note. Ultimately, the consultation note defines focus areas, priorities, and opportunities for youth engagement with the goal to promote outreach to youth, partnerships with and among young people, youth inclusion in CIF governance and operations, and youth capacity-building for climate action.  

The COP26 event explored CIF’s reasoning for youth engagement, why youth climate action is important and successful, and how CIF is calling on youth to play a bigger part in mobilizing climate finance. 23% of the world’s population (nearly 1.9 billion persons) is between the age 10 to 24 years, and nearly 90% of this age segment live in low- and middle-income countries. While youth today are the most vulnerable stakeholders in climate action, they are also incredibly entrepreneurial, have the ability to take leadership roles in their communities, and at the university level have proven that their actions and demands can create real change such as forcing universities to divest from fossil fuel use. CIF CEO Mafalda Duarte opened the event with a panel discussion moderated by the Barbara Rambousek, Head of Economic Inclusion, ERBD. 

Learn more about the Consultation Note: Towards a Youth Engagement Strategy (YES)