The UN Climate Change Conference (COP26), held November 1-12 in Glasgow, Scotland, highlighted the urgency of turning commitments into action to limit warming to 1.5°C. The P4G Seoul Summit in May served as a stepping-stone to COP by highlighting the role of public-private partnerships in driving a net zero future. It emphasized the importance of green recovery from the pandemic as well as scaling investments in market-based solutions and a carbon neutral transition in developing countries.
At COP26, many of the discussions focused on mobilizing climate finance from all sources to reach the level needed to achieve the Paris Agreement goals, and the opportunity to create a more sustainable, green economy as governments work to accelerate an economic recovery from COVID-19. COP26 also reinforced that solving the climate crisis requires collective action, which is fundamental to P4G’s approach - bringing together partner country governments, private sector leaders, institutional investors and organizations to drive forward the kind of tangible, market-based solutions needed to meet the 1.5°C goal. Now we must ensure COP26 follows through on accelerating green investment and innovative solutions centered on developing countries’ priorities.
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P4G co-hosted an event on market-based partnerships that catalyze investment in developing countries. Julius Muia, Principal Secretary, Ministry of Finance, Kenya; Shahriar Alam, State Minister for Foreign Affairs, Bangladesh, and others spoke about P4G’s pivotal role as a platform that converts commitments into solutions being implemented in their countries. The event also announced P4G’s 2021 State-of-the-Art Award winners. As Ani Dasgupta, President and CEO of World Resources Institute highlighted, “P4G finds the solutions, finds the proposals, and finds how and where we can build locally-built solutions relevant to different countries to get this investment.”
Scaling tangible solutions on-the-ground in developing countries is a pathway to tapping into the billions and trillions needed to finance a net zero future. This was the main theme of P4G’s COP event on November 9 at the We Mean Business Coalition Pavilion. Speakers from partnerships, development finance institutions, project developers and the private sector came together to share concrete ideas on mitigating the investment risk in emerging economies. Speakers like Emmanuel Nyirinkindi, Vice President of the International Finance Corporation (IFC) noted that the scale of ambition must be met with practical approaches by the public and private sector.
An evening drinks reception and panel discussion to learn a bit more about ways of blending retail and institutional investment in new and catalytic ways to bridge the climate and sustainable development finance gap.
At the event, you will hear from pioneering sustainable organisations like Azuri Technologies, Camco and Westmill Solar on how they are accessing new and innovative forms of blended finance to rapidly scale their low-carbon operations in emerging economies and beyond.
Representatives from leading impact investing platforms will discuss the new ways that catalytic finance from Governments and foundations can be blended alongside investments from individuals to transform the climate finance sector and mobilise people powered finance at the $bn scale.
In 2020, the funding gap for the humanitarian response to global disasters reached almost $20bn. As the frequency and severity of climate-related disasters continue to increase, this gap is expected to widen. Traditional forms of disaster relief financing simply cannot keep pace.
This panel brings together experts from the public, private and charity sectors to discuss how creating markets for private capital to fund disaster relief projects could see more funds reaching those who need it, and faster than ever before.
During this breakfast briefing, you will hear from two of Europe’s leading impact investing platforms, Energise Africa and Lendahand, as well as number of strategic partners including UK aid, TCX, Camco and P4G about new approaches which are pioneering and challenging the norm to develop new models of blended finance that can deliver transformational change to the sustainable businesses and emerging economies of the future.
This interactive breakfast briefing will showcase how people-powered finance is enabling transformational climate finance to flow to climate vulnerable countries and sectors that have previously seen limited investment. We will look at how new models of impact investing can deliver the kinds of financial products that investors and investees want to see and which currently seem to be lacking in the market.