Recording
Organizers
This session was organized by NDC Partnership
Background
To mobilize the trillions needed to implement the NDCs and achieve the Paris Agreement targets, the participation of the private sector is imperative. Leveraging resources from both the local (e.g., large, small and medium enterprises) and international (e.g., international investors and asset managers) private sector is crucial to complement broader climate finance mobilization from the international public sector and support the transformation of national economies towards climate-aligned pathways. Despite persistent challenges in mobilizing private sector participation, particularly related to incompatible enabling environments and local capacities for project development and implementation, collaboration between governments, development partners, and the private sector has already produced results and valuable experiences that are worth sharing with a broader audience.
Objectives
This session aimed to enhance our collective understanding of how to efficiently catalyze private-sector finance for NDC (Nationally Determined Contributions) implementation by sharing experiences and best practices from the NDC Partnership. The session also discussed how countries can enhance their access to private finance through NDC investment planning with a whole-of-society approach. It featured speakers from diverse backgrounds, including the private sector, youth, government, and non-governmental sectors, who provided different perspectives and shared their experiences regarding the challenges and opportunities in effectively mobilizing private-sector finance.
Structure
| Time |
Segments & Speakers |
| 5 mins |
Welcome remarks
Speaker-Amanda McKee: Director of Knowledge and Learning, NDC Partnership Support Unit
|
| 10 mins |
Presentation: The role of the private sector in planning and mobilizing NDC-aligned investments
Speaker-Joaquim Leite, Head of Climate Finance, NDC Partnership Support Unit.
|
| 20 mins |
Setting the stage presentations
Speakers:
- Tonilyn Lim, UN Global Compact
- Sandra Guzmán, Climate Finance Group for Latin America and the Caribbean
- Selina Wrighter, GCF
|
| 25 mins |
Open discussion |
| 5 mins |
Closing |
Key Outcomes
- Investment planning needs to be comprehensive and involve people. The process and the capacity building required is critical to attract the private finance needed.
- Corporates play a key role in country mitigation action, they are expected to fund 1/3 of the investment needed.
- Investments in climate action require cooperation among multiple sectors, a company investing will need to engage the wide range of sectors (e.g. regulatory, energy grid, transport, etc.), which is complicated to do. Support is needed to help coordinate these efforts.
- We need the participation of the private sector in the NDC update. In updating the NDC we need to think about “how” the NDC will be implemented and funded. The private sector cannot come in only at the end.
Resources
NDC Partnership slides
