reporter
Name Affiliation Title Ryosuke Takahashi Research Manager, Planning Dept.
summary
Date: November 13, 2024
Organized by: International Development Finance Club (IDFC)
Name of venue (pavilion name): International Development Finance Club (IDFC) Pavilion
speaker
Name Affiliation Title Megumi Muto Special Assistant to the President, JICA Stephan Wintels President, German Finance Corporation for Reconstruction (KFW) Serge Ekwe President, West African Development Bank (BOAD) Remy Liu President, French Development Agency (AFD) Javier Diaz President, Trade Bank of Colombia Paolo Lombard President, Italian Depository Receipt Bank (CDP) Director General, International Cooperation and Development Finance, CDP
Background and Objectives
The COP29 was an opportunity for high-level officials from various organizations to gather and share their organizations’ most recent responses to climate change.
Contents
BOAD President Eckle stated that the goal is to have 25% of its commitments be climate financing, and that it has already reached 40%. He stated that they are monitoring at the portfolio level and promoting the greening of the energy sector.
Mr. Diaz, President of the Colombian Trade Bank, shared that the company has an ESG rating and has received certification from the Green Climate Fund (CCF). He also shared that they have enhanced their environmental and social considerations with technology transfers from KFW and the Inter-American Development Bank. He added that the company aims to make 10% of its portfolio green and is promoting solar projects for small and medium enterprises (SMEs). He also mentioned innovative financing such as debt-for-nature swaps.
Mr. Muto, Special Assistant to the President, introduced the progress being made in aligning all new projects with the Paris Agreement and estimating greenhouse gas emissions based on the Sustainability Policy.
KFW President Wintels introduced the €320 billion in climate financing that has been consented since 2017 in Germany and abroad. He expressed his belief that public funds alone cannot address climate change and that it is necessary to promote blended finance and other measures based on an understanding of the impact.
Mr. Lombard of CDP stated that the SDGs, in addition to climate change, are considered when structuring deals. He also emphasized the importance of supporting adaptation measures in addition to mitigation, where they have traditionally been strong. Finally, he stated that BOAD’s hybrid bonds have been acquired to support BOAD’s climate financing.
AFD President Liu introduced the goal of 50% of commitments to be climate finance and emphasized that adaptation is also important. He also stated that all projects are being aligned with the Paris Agreement. Furthermore, he stated that the company is promoting the incorporation of biodiversity into the composition of its projects. In terms of climate change measures and social support, he stated that the company is supporting Just Transition in South Africa. He also introduced a case study of a sustainable bond issuance.
© Source JICA
Auto Amazon Links: No products found.
Auto Amazon Links: No products found.