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):
_ Build Back Greener: the role of public policy to monetize the cost of decarboniztion and how the infrastructure development will support the green growth
_ How to increase the level of financing from the public, private and not-for-profit sectors to sustainable development priorities: a multi-dimensional approach
_ The need of a proper governance to enable the energy transition based on macroeconomic and financial modelling, especially from export agencies and multilateral banks
_ 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
|
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.
