Events Calendar

The Finance we need for the future we want – a talk with financial actors leading the transformation towards a climate neutrality and sustainable economy in the LAC region
Wednesday, 3. November 2021, 14:00 - 15:15
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Date, time: 

Wednesday November 3, 14:00 -15:15 hours (Glasgow time)

Organisers and contacts

Mercedes G. Fariña

Programme Management Officer for Climate Finance and Economic Resources 

Climate Change Unit 

Latin America and the Caribbean Office

UNEP 

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Objective

Financial flows need to be consistent with a pathway towards low-emission and climate-resilient development to hold the increase in the global average temperature to below 2°C above pre-industrial levels and if possible 1.5°C. This event will connect the dots between public policies and private finance to underpin the transformations needed to align financial flows consistent with the Paris Agreement in LAC. 

Specifically, this event will provide a dialogue with actors from the public sector, financial regulators, and private financial sector to showcase: 

  • Actions of financial regulators and financial entities for assessing and disclosing climate-related financial risks.
  • Initiatives of private financial entities for increasing its commitments to climate finance.
  • The role of the public and development finance in mobilizing private finance towards climate neutrality and sustainable economies. 

Description

Climate events are the greatest threat to development in LAC. Due to climate change (CC) impacts on countries’ economies and financial stability, financial actors are recognizing CC as a systemic risk. Furthermore, financial actors play a key role in closing the investment gap to achieve low-emission climate-resilient economies. This urgent need of redirecting investments has been accentuated by the COVID-19 pandemic.

Thus, financial actors have increasingly taken actions to integrate CC and broader sustainability concerns into their investment decisions and portfolio allocations. However, there is still a lack of understanding about what is a green investment and how to assess and disclosure climate-related financial risks. 

This session will showcase: 

  • How public-private dialogues can be paramount to improve the flow of money towards financing a green economy transition - case of the EU, and 
  • Initiatives across the financial sector leading the Paris Agreement alignment.


Agenda of the event

Time

Title

Speakers

14:00

14:02

Welcome Andrew Scyner, EUROCLIMA + Program Manager, Regional Programs of Latin America and the Caribbean (Face-to-face)

14:02 

14:12


Opening remarks


Inger Andersen, Executive Director, UNEP, 


H.E. Carolina Schmidt,  Minister of Environment, Chile



14:12

14:25 

Keynote speaker: 

Climate-related risks in the LAC financial system: What are the main challenges and opportunities?


A perspective from the UNEP FI TCFD Banking Pilot Project

Remco Fisher, Director of Climate Change, UNEP FI

14:25

14:47 

Panel discussion: How the financial sector and policymakers can take immediate action against climate-related risks?



Moderated by: María Eugenia Sosa Taborda, LAC Regional Coordinator, UNEP FI  

Roberto Bernanza, Deputy Director of investment programming, Ministry of Finance, Panama


Gustavo Montezano, CEO, BNDES


Marcelo Pasquini, Head of Capital Management, Markets Finance, Managerial Acct, and Corporate Sustainability, BRADESCO

14:47 

15:00

Panel discussion: What is green or environmentally sustainable? And what is not? The role of sustainable finance taxonomies in the market


Moderated by: Mercedes G. Fariña, Climate Finance Programme Management Officer, UNEP, LAC Office

Joaquin Guajardo, Advisor, Ministry of Finance, Chile


Mariana Escobar Uribe, 

Financial Superintendency of Colombia 


Martin Špolc, Head of Unit Sustainable Finance, Directorate-General for Financial Stability, Financial Services and Capital Markets UnionEuropean Commission

15:00

15:10

Q&A: with the audience

Moderated by: Mercedes G. Fariña, Climate Finance Programme Management Officer, UNEP, LAC Office

15:10

15:15 

Call for action: closure

Gustavo Máñez, Climate Change Coordinator, UNEP, LAC 

Team in charge of communication and attention to the press

Sofía Arocha 

Communications and Knowledge Management Specialist

Climate Change Unit 

Regional Office Latin America and the Caribbean 

Information about the event on EUROCLIMA + social networks

EUROCLIMA + in COP 26

The European Union - through an alliance of commitment and cooperation of the EUROCLIMA+ programme with 18 countries in Latin America and the Caribbean - will be facilitating the presentation of 43 events in total.

The content of the website does not necessarily reflect the opinion of the European Commission.

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