Financing the transition towards low-carbon and climate-resilient economies in developing countries

Webinars - By : Louise KESSLER, PhD

Time : Monday, 14th November, 12.15 – 13.45 (Paris time)

Location: UNFCCC pavilion and online

Organizing: I4CE

Governments have a key role to play in transforming the Paris Agreement and SDG targets into credible, legally binding domestic targets, strategies, and policies. Specifically, governments need to put in place policies and regulatory frameworks which are conducive to climate investments, i.e. investments that are needed for countries to structurally transform their economies in order to achieve the net zero global objective. National transformations then need to be championed by private actors and non-governmental institutions.  

 

 

The key issue today is not that countries run short on policy options for climate action, but rather face financing issues to undertake the necessary investments, create the right economic incentives, and manage the economic implications of achieving net zero targets and climate resilient development.   

 

Three main challenges related to the financing of the transition can be identified:  

  • Challenge #1: Mobilizing significant budgetary resources and redirecting public finance flows towards mitigation and adaptation solutions. This is particularly true in developing countries, where there is a strong need for better climate investment conditions and governance. 
  • Challenge #2: Aligning the financial system with national and international low-GHG and resilience targets and facilitating the engagement of the private sector. Innovative instruments can be enacted to facilitate such engagement.
  • Challenge #3: Strengthening international governance for the consistent commitment of public resources towards climate action. The provision of concessional finance, and the de-risking of climate assets should be closely considered to facilitate the financing of net zero strategies and a resilient transition.  

 

The first part of this event focused on the main challenges countries face in financing the transition. The second part of the event discussed potential solutions and reforms that can be implemented. 

 

Moderator: Benoit Leguet (I4CE)

Program: 

13.15 – 13.25 : Introduction  

  • Keynote speech by Laurence Tubiana (ECF) 

 

13.30 – 13.45 : Part 1 « Reorganizing financial flows to finance sectoral transitions: overview of challenges » with CAN-LA, GFLAC, Speaker TBC 

 

13.45 – 14.45 : Part 2 « Financing the transition: how to move forward » 

  • with ITDT and I4CE
  • rountable 
    • Graham Watkins, IDB;
    • Hassan Agouzoul, Morocco; 
    • Luis Fierro, Ecuador;
    • Representative from The Gambia (tbc);
    • Representative from Barbados (tbc);
    • Private finance perspective (tbc). 

 

14 Nov 2022

Financing the transition towards low-carbon and climate-resilient economies in developing countries

I4CE Contacts
Louise KESSLER, PhD
Louise KESSLER, PhD
Economy Programme director– Steering tools, Financing the transition Email
To learn more
  • 04/19/2024 Foreword of the week
    World bank and IMF Spring Meetings: How can the reformed institutions play a leading role in funding the transition?

    Rethinking how development can be financed to take into account the rising challenges of our time is a fastidious task, especially when thousands of experts, decision makers and practitioners want to leave their print. The outline of the new international financial architecture is being debated again this week, with more questions open for discussion than consensus on the answers. 

  • 04/19/2024 Blog post
    More and better finance: maximising positive climate impacts for a timely transition 

    Since the Paris Agreement in 2015, significant strides have been made to foster the commitment of countries and financial institutions to address the climate crisis and ensure that climate risks and opportunities are considered in investments. However, with emissions required to peak before 2025, our window of opportunity is rapidly closing to keep +1.5°C within reach. Financial needs to lower greenhouse gas (GHG) emissions and to address adaptation priorities are increasing rapidly in the meantime. Luis Zamarioli Santos and Diana Cárdenas Monar, from I4CE, believe that commitment must urgently translate into action, and action must bring the urgent change the world needs. Both governments and public financial institutions have a central role to play to deliver more and better finance, maximising positive impacts. This blogpost highlights some opportunities to advance in the path for a systemic transformation, involving key stakeholders with a whole-economy approach.  

  • 04/17/2024
    Ambitious alignment with the Paris Agreement in public development banks

    At the Spring Meetings, during an event with senior climate representatives from Multilateral Development Banks, I4CE, E3G, Germanwatch and NewClimate Institute officially launched a common position paper on what ambitous Paris alignment means for public development banks. This paper summarises years of research on Paris alignment to shed light on best practice and hopefully support decision makers in taking and implementing credible climate commitments. 

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