Scaling up climate action: country strategies and emergent investment opportunities for a green recovery
virtual , 2020-07-02
Thursday, 2 July 2020
6am ET / 11am BST / noon CEST / 5pm ICT
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This event during London Climate Action Week, co-hosted by the UK (as COP26 Presidency), Germany (as convener of the Petersberg Climate Dialogue), and Climate Policy Initiative, brings together a select group of high-level representatives and practitioners from the public and private sector to discuss tangible policies and financing solutions for a green recovery that are synergistic with enhanced Nationally Determined Contributions (NDCs), and which in turn can help countries be more ambitious in their long term strategies to address climate change. This discussion will build on and further explore the themes emerging from the Petersberg Climate Dialogue finance session
Moderator: Barbara Buchner, Global Managing Director, Climate Policy Initiative, @bbuchner13
11:00 – 11:30 Session 1 | Good Policy Leads the Way
This opening session focuses on the importance of strategic design in enhancing climate ambition in recovery packages, as well as ensuring regulatory environments enable green recovery that also leads to better NDCs. Panelists will share strategies, policies, and solutions that can help unlock investments. They will offer options for and good practice examples of national stimulus packages and public finance interventions that could help with funding a green recovery and underwriting enhanced ambition.
- Kwasi Kwarteng, Minister of State for Business, Energy and Clean Growth, @KwasiKwarteng
- Svenja Schulze, Federal Minister for the Environment, Nature Conservation and Nuclear Safety, Germany, @SvenjaSchulze68
- Inger Andersen, Under-Secretary-General of the United Nations and Executive Director of the UN Environment Programme, @andersen_inger
11:30 – 12:55 Session 2 | Funding a Green Recovery and using it to Enhance NDC Ambition
Initial estimates indicate that USD 10-20 trillion will likely be invested during the next six to eighteen months to stimulate economies in the wake of the COVID crisis. As governments globally roll out plans and cash for economic stimulus and enhancing social safety nets, how can these be deployed to simultaneously enhance protection from climate impacts? What processes, actions, and interventions could lead to synergies: how can NDCs inform recovery, and how can recovery processes lead to better NDCs? This session explores some specific initiatives that can help pave the way for a balanced economic recovery, as well as enhanced ambition to address climate change and its impacts, while capitalizing on new sources of finance.
Panelists will share examples of how to scale climate-smart investments by addressing gaps in policy and rectifying existing policies, by better utilizing concessional funds, and by building capacity to address risks and mobilize private capital. These could include recovery bonds and debt-for-climate swaps at the country level; asset labels (à la green bonds) to provide guidance and assurance to investors; and planned actions by corporates to shift and remain on a path to net-zero.
- Carlos Manuel Rodriguez, Costa Rican Environment and Energy Minister and incoming CEO, Global Environment Facility, @cmrodrigueze
- Dr. Ma Jun, Director, Center for Finance & Development, Tsinghua University and Chairman, China Green Finance Committee, @MJ_GreenFinance
- Gema Sacristan, Chief Investment Officer, IDB Invest, @GemaSacristan
- Melissa McDonald, Head of Responsible Investment, HSBC, @HSBC
- Anthony Hobley, Executive Director, Mission Possible Platform, World Economic Forum, @arhobley
After opening remarks, the panelists will join a moderated discussion between the panel and the audience. All participants are invited to share their views and pose questions.
12:55 – 13:00 Final reflections and close of the meeting by the moderator, Barbara K. Buchner, Global Managing Director, Climate Policy Initiative