The first deliverable of the Finance in Common Summit is a joint declaration of all Public Development Banks stating their willingness to contribute to the recovery and align with sustainable finance principles.
The 450 Public Development Banks signed this ambitious joint declaration in 2020, with a concrete roadmap, timeline, and process to achieve collective results at scale. The signatories will shift their strategies, investments patterns, and operations modalities, in order to contribute to the achievement of the United Nations Sustainable Development Goals (SDGs) and the Paris Agreement. PDBs also commit to act as responsible and transparent institutions, and to develop international cooperation, sharing best practices to improve the sustainability and quality of their financing. PDBs believe that their contribution will help the emergence of a much-needed global framework for SDG-compatible finance.