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-4:04PM||Opening Statement by Ville Tavio, Finland Minister of Foreign Trade & Development|
|4:04PM-4:12PM||Session introduction by Karin Isaksson, Managing Director, Nordic Development Fund|
|4:12PM-4:18PM||Presentation on blended finance market/ecosystem for climate by Joan Larrea, CEO, Convergence |
|4:18PM-4:33PM||Panel 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-4:43PM||Questions and Answers|
|4:43PM-4:45PM||Nordic Development Fund and Convergence wrap up|