Description
The last few years have seen the realisation that climate change will affect businesses, economies, and the financial sector. We are witnessing an improved understanding of climate risk and its potential impact on financial performance and profitability. What started as a niche topic in finance is rapidly entering the mainstream, with rapid growth in investing that uses environmental, social and governance (ESG) criteria. There is also an increase in different new financial instruments such as green bonds, sustainability linked bonds, and impact-linked bonds. Financial sector participants are starting to use new, non-financial information to guide their strategy and decision-making.
In addition, a growing evidence base showing the importance of climate considerations in development financing. Combined with greater political focus on climate, especially in Europe, this has led to increased efforts to green the financial system and to tackle the negative externalities such as carbon emissions and pollution, environmental costs that until now have not been priced in by markets. There is a plan to eventually try and operationalise the external dimension of the EU’s Green Deal, influencing development cooperation and diplomacy.
Will finance alone be able to drive decarbonisation and the move to more sustainable development? If so, when can we expect to see the impact? What is changing in how we finance development because of the greater focus on climate and sustainability? What are the obstacles we still face for financing sustainable development? What are the most promising signs of positive change?
Keynote speeches
Mr Ary Naim, Regional Manager, Central & South-East Europe, International Finance Corporation (IFC)
The Hon. Sunil Sabharwal, Director, Thunes
Speakers
Mr Gianpiero Nacci, Acting Head, Energy Efficiency and Climate Change Team, EBRD
Mr Hugo Rojas, Chairman of the Governing Board, ANEAS National Association of Water and Hygiene Companies
Mr Sharaf Sheralizoda, Deputy Minister of Foreign Affairs, Republic of Tajikistan
Mr Tristan Azbej, State Secretary for the Aid of Persecuted Christians and the Hungary Helps Program, Hungary
Mr Mike Enskat, Head, Infrastructure Section (Water, Energy, Mobility), German Corporation for International Development (GIZ)
Mr Zoltán Kurali, Chief Executive Officer, Government Debt Management Agency, Hungary
Mr Magnus Brandberg, Partner and Investment Manager, Gullspång
Moderator
Linda Zeilina, CEO & Founder, ISFC