At COP21 in December 2015, country representatives from around the world adopted the Paris Agreement, which sets international climate objectives, in the context of sustainable development. That same week, on the sidelines of COP21, 26 Institutions also demonstrated their commitments to acting on climate change by adopting the 5 voluntary Principles for Mainstreaming Climate Action within Financial Institutions. By doing so, they launched an unprecedented coalition of public and private financial institutions aiming to adopt a pathway to systematically integrate climate change considerations across their strategies, programs and operations.
Today, the Climate Action in Financial Institutions Initiative continues to build on the pivotal role financial institutions play in scaling up and directing financing toward investments and assets that are necessary for transitioning to low-carbon, resilient economies globally, and achieve ‘net zero’ carbon emissions in the long term. Five years on, the 5 voluntary Principles for Climate Mainstreaming continue to act as a foundation to guide financial institutions in the process of aligning all activities with the Paris Agreement objectives ensuring that climate considerations are disseminated across institutions.
Since 2015, the topic of Paris Alignment has become a central part of the financial sector’s discussions on climate change – whether by public or private institutions. Currently, the Climate Action in Financial Institutions Initiative acts as a major international forum for financial institutions practitioners to exchange on the development and implementation of emerging practices on Paris Alignment and connect the dots between both public and private financial institutions, but also with think tank experts and other stakeholders.
On the 11th of December, financial institutions presented why they are taking steps towards aligning their strategies and operations with the objectives of the Paris Agreement, where they are at, and how the financial community can build bridges to work together to contribute to these shared objectives.
MAINSTREAMING CLIMATE TO ALIGN WITH PARIS
Where do we want to go? Where are we? How do we move forward together?
High-Level Online Conference on the sidelines of the Climate Ambition Summit 2020
11th of December 16:00-17:30 CET
Agenda
16:00 – 16:10 Welcome remarks – Five Years of Mainstreaming Climate to Align with Paris: Ian Cochran, Head of the Secretariat, Climate Action in Financial Institutions Initiative
16:10 – 16:20 Keynote speech: Where do we want to go on the alignment of financial flows? Laurence Tubiana, France’s Climate Change Ambassador and Special Representative for COP21
16:20 – 16:45 Keynote dialogue: Why does Paris Alignment make financial sense? What is the business case for Paris Alignment?
Bertrand Walckenaer, Deputy CEO of the French Development Agency (AFD)
16:45 – 17:15 Panel discussion: Where are we in the development of alignment approaches? What are the next challenges on the road to COP26?
Moderator: Amal-Lee Amin, CDC Group Climate Change Director and COP26 Advisor (TBC)
Panelists:
- Ahmed Al Qabany, Manager of the Climate Change Division, Islamic Development Bank (IsDB)
- Libby Dreyer, Head of Environmental and Social Sustainability, Development Bank of Southern Africa (DBSA)
- Nathalie Jaubert, Deputy Head, Corporate Social and Environmental Responsibility, BNP Paribas
17:15 – 17:30 On the Road to COP26: How Can we Move Forward Together? Eric Usher, Head of UNEP FI
17:25 – 17:30 High-Level Conclusion: On the Road to COP26