Events Calendar

Pivotal Role of Green Financing to meet the Paris Agreement targets and the Sustainable Development Goals
Wednesday, 3. November 2021, 11:45 - 13:00
Hits : 443

 

Date, time:

3 November, from 11:45 to 13:00 Glasgow time

Organisers and contacts

Federico Bernardelli

Coordinator Country Image and Positioning; Ministry of Energy - Chile

This email address is being protected from spambots. You need JavaScript enabled to view it. 

Objective of the event

The purpose of green financing, is to increase the level of financing from the public, private and not-for-profit sectors to sustainable development priorities.

The side-event will cover three major themes: 1. Financing the Energy Transition; 2. Infrastructure and Green Growth; 3. Financing Resilience and Adaptation, and bringing together public authorities, private foundations and academia members, international organizations and multilateral bank representatives for dynamic and authentic discussions that will contribute to highlighting the pivotal role of green financing from a range of crucial perspectives.

Brief description

At the core of today’s globalized economy are financial markets through which banks and investors allocate capital to different sectors. The capital allocated today will shape ecosystems and the production and consumption patterns of tomorrow.

Green financing is playing a crucial role by increasing levels of financial flows (from banking, micro-credit, insurance and investment) from the public, private and not-for-profit sectors to sustainable development priorities and energy transition.

Globally, the green bond market could be worth $2.36 trillion by 2023 and only the European Central Bank holds around 20% of all euro-denominated green debt, even though it only started buying corporate bonds as recently as 2016.

The relationship between finance and the real economy is changing, especially during the recovery from the pandemic. The transition to a green, sustainable and resilient future for all is now at the core of public and private finance in the energy sector.

As more than two-thirds of the world’s GHG emissions is attributable to the energy sector, SDG7 is a key enabler for also achieving SDG13. The Energy transition from fossil fuel to renewables, energy efficiency measures and universal access through sustainable energy resources will significantly contribute to climate mitigation action. Hence, financing SDG7 has direct implication on achieving SDG13 targets. The urgency of ensuring financing requirements of the energy transition to tackle climate change has never been stronger and green financing plays a pivotal role for the deep transformation of the energy sector in the next 10-12 years.

Speakers

Name
Position Institution
In-person/virtual
Mr. Jeffrey Sachs
KEYNOTE SPEAKER
 
Professor
Columbia University
Virtual
Liu Zhenmin
tbc
Under Secretary
UNDESA
Virtual
Mr. Juan Carlos Jobet
 
Minister of Energy and Minister of Mining
Republic of Chile
In-Person
Mr. Carlo Papa
 
Director
ENEL Foundation
Virtua
Ms. Faith Ward
 
Chair
Institutional Investors Group on Climate Change
In-Person
Ms. Elina Kamenitzer
Head of Division, Climate Action & Environment Coordination.
European Investment Bank
In-Person
Mr. Anthony Robert Hobley
MODERATOR
 
Co-Executive Director, Mission Possible Partnership and an Executive Fellow
World Economic Forum
In-Person


Agenda of the event

Time

Topic

11:45

Welcome: Mr. Anthony Robert Hobley, Co-Executive Director, Mission Possible Partnership and an Executive Fellow, World Economic Forum

11:50

Keynote Speech

Professor Jeffrey Sachs, Columbia University

_ The role of green financing in the post-pandemic energy sector transition and its contribution to meet the Paris Agreement

12:00

Special Address (TBC)

Mr. Liu Zhenmin, Under-Secretary-General, UNDESA

_ Green Financing as a leverage to deliver SDG7 and enable SDG13 achievement

12:05

Moderator: Mr. Anthony Robert Hobley, Co-Executive Director, Mission Possible Partnership and an Executive Fellow, World Economic Forum

Short intervention of the panellists (5 min. each):

  • Mr. Juan Carlos Jobet, Minister of Energy and Minister of Mining, Chile

_ Build Back Greener: the role of public policy to monetize the cost of decarboniztion and how the infrastructure development will support the green growth

  • Ms. Faith Ward, Chair, Institutional Investors Group on Climate Change

_ How to increase the level of financing from the public, private and not-for-profit sectors to sustainable development priorities: a multi-dimensional approach

  • Mr. Carlo Papa, Director, ENEL Foundation

_ The need of a proper governance to enable the energy transition based on macroeconomic and financial modelling, especially from export agencies and multilateral banks

  • Ms. Elina Kamenitzer, Head of Division, Climate Action & Environment, European Investment Bank

_ The role of the multilateral bank in green financing: the EIB approach on green

bond market

12:55

Closing Remarks

Mr. Anthony Robert Hobley, Co-Executive Director, Mission Possible Partnership and an Executive Fellow, World Economic Forum

_ Wrap-up of the session, min findings and final considerations

13:00

Family Picture and farewell


Team in charge of communication and attention to the press

Kareen Linzmayer, 

Communication Advisor - Minister Office; Ministry of Energy - Chile

This email address is being protected from spambots. You need JavaScript enabled to view it.

 

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.

EC bcoEng

Copyright © 2022 | EUROCLIMA+. All rights reserved.