0
Special event
Finance and investments for a sustainable recovery
01 Jun. 2020
15:00h - 16:30h
Virtual event
English
0
Special event
Finance and investments for a sustainable recovery
01 Jun. 2020
15:00h - 16:30h
Virtual event
English

Time: 15:00 - 16:30 CEST

Type: Open

Format: Panel discussions with public webcast. No prior registration is required.

Description:

The opportunity to align the goals of economic recovery to the COVID-19 crisis with the goals of the Paris Agreement is one that cannot be missed. Failure to do so may result in the world falling short on both goals. Decisions taken now will likely impact the state of climate mitigation and adaptation out to 2030, and possibly beyond. Conversely, an economic recovery cannot be sustained over the long-term if it reverts to reinforcing business-as-usual degradation of the environment, climate and society.

While realizing temperature goals and net-zero emissions under the Paris Agreement remain a longer-term effort, making investment and financial flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development can be fostered now through the economic recovery packages and reinforced by actions by the private sector banks and investors.

The private sector will be central to the recovery of employment and consumption and for investment and innovation to drive economies forward. Confidence in the strength of government policy, in the clarity of its direction, and in its steadiness over time will be crucial. The development banks ecosystem can play a vital role in helping to take programmes to scale and in catalysing private finance under uncertainty.

Adopting economic recovery measures that are consistent with low GHG emissions and climate-resilient development will not only help make the goals of the Paris Agreement a reality, it will also help build resilience to future shocks.

As part of the June Momentum, this special event will focus on actions government, public and private financial institutions may take to integrate climate considerations in responses to the crisis.

Agenda:

Moderator: Welcoming and overview of event

  • Mr. Amar Bhattacharya, Brookings Institution

Opening statement

  • Mr. Selwin Charles Hart, Special Adviser to United Nations Secretary-General and Assistant Secretary-General for Climate Action

Scene-setting presentation

  • Lord Nicholas Stern, London School of Economics and Political Science

Panel discussion

 

Ministries of Finance

  • H.E. Ms. Katri Kulmuni, Minister of Finance, Finland. Deputized by Mr. Pekka Morén, Special Representative of Finance Minister, Coalition of Finance Ministers for Climate Action
  • H.E. Ms. Pilar Garrido, Minister of National Planning and Economic Policy, Costa Rica
  • H.E. Ms. Paola Alvarez, Assistant Secretary, Department of Finance, Philippines

Central Banks community

  • Mr. Frank Elderson, Chairman of the Network of Central Banks and Supervisors for Greening the Financial System, Member of the Governing Board of De Nederlandsche Bank, and Member of the Supervisory Board of the European Central Bank
  • Mr. Luiz A Pereira da Silva, Deputy General Manager, Bank for International Settlements (BIS), and former Deputy Governor of Central Bank of Brazil