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COP28 Panel Discussion: Blended finance to mobilize private investment to climate adaptation: Progress to date and bigger potential going forward

Nordic Pavilion, Blue Zone

Dec 4, 2023, 4:00PM-4:45PM GST

Developing countries and the international development finance community have identified the need to increase total investment in climate adaptation projects in Low and Middle-Income Countries. Convergence’s State of Blended Finance 2023 Report estimates the annual blended finance flows (deploying concessional/catalytic public and philanthropic funds to concurrently achieve climate impact and mobilize private investment) for climate mitigation and climate adaptation.

The Organisation for Economic Co-operation and Development (OECD) reports all public sector development finance mobilizes around $13 billion of private investment annually; with less than 25% estimated for climate adaptation.

About the panel discussion
The session will focus on identifying existing blended finance activities and future scalable activities to increase climate impact in Emerging Markets & Developing Economies (e.g., Low and Middle-Income Countries) by mobilizing larger amounts of total and private investment to climate mitigation and climate adaptation projects.


4:00PM-4:04PMOpening Statement by Ville Tavio, Finland Minister of Foreign Trade & Development
4:04PM-4:12PMSession introduction by Karin Isaksson, Managing Director, Nordic Development Fund
4:12PM-4:18PMPresentation on blended finance market/ecosystem for climate by Joan Larrea, CEO, Convergence
4:18PM-4:33PMPanel Discussion, moderated by Joan Larrea, CEO, Convergence, featuring panelists:

- Benjamin E. Diokno, Secretary of Finance, Philippines, Chair of the G24
- Marc-Andre Blanchard, Executive Vice President, Global Head of Sustainability, CDPQ
- Karin Isaksson, Managing Director, Nordic Development Fund
4:33PM-4:43PMQuestions and Answers
4:43PM-4:45PMNordic Development Fund and Convergence wrap up
Date And Time

Monday, December 4th, 2023
8:00 PM - 8:45 PM (GMT+00:00)


Nordic Pavilion, Blue Zone
Nordic Pavilion, Blue Zone