New Delhi: Cassa Depositi e Prestiti (CDP), the Italian National Promotional Institution and Financial Institution for International Development Cooperation, has signed a Memorandum of Understanding (MoU) with the United Nations Development Programme (UNDP) to strengthen their collaboration on promoting sustainable finance and climate action.
The agreement, according to a UN press release, will focus on facilitating investment opportunities in green and low-carbon projects, promoting innovative financing solutions to fill the financing gap for sustainable development goals (SDGs), strengthening cooperation in international networks and multilateral forums to align global finance with the SDGs and the Paris Agreement on climate change.
It also includes a commitment from both parties to promote sustainable development and climate resilience through the Youth4Climate initiative, which will empower young people to take action on climate change.
The partnership will leverage the strengths of both public and private institutions to contribute to the achievement of the SDGs and promote sustainable development.
Marcos Neto, UN Assistant Secretary General and UNDP’s Director of the Bureau for Policy and Programme Support, said, “Partnering with CDP is a crucial step forward in our mission towards the vision set by the 2030 Agenda for Sustainable Development and beyond. Through this collaboration, we are creating pathways to innovative financing solutions to unlock new opportunities for climate action, sustainable finance, and youth empowerment, ensuring that no one is left behind.”