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COP28 Panel Discussion: The State of Blended Finance in the Indo-Pacific and Southeast Asia Regions

01 Dec 23 - Australian Pavilion, Blue Zone

December 1, 2023, 4:00PM - 5:00PM GST

The economies of the Indo-Pacific and Southeast Asia regions are highly indebted, and climate vulnerable. Traditional climate finance flows are nowhere near the levels they need to be to reach climate targets. While blended finance is a proven tool for channeling private capital to places where it typically doesn’t flow, Convergence finds that climate blended finance flows have been declining; climate blended finance deal volume decreased by 55% in 2022 compared to 2021, and institutional investors are yet to take a strategic approach to blended finance. Blended finance will be an essential tool in reaching regional targets for net zero and supporting the region’s energy transition.

This panel discussion provides a venue to explore the factors behind the trends, to better understand experiences on both the supply (investors) and demand (recipients) side of capital.

About the panel discussion
The session will explore:

  • How to utilize blended finance to mobilize capital for climate finance - including transition finance - in the Indo-pacific and Southeast Asia
  • What are the primary barriers to more consistent and scaled climate finance investment from institutional investors in these regions?
  • What are successful examples of innovative climate blended finance structures and instruments deployed to mitigate risks and mobilize private investments in these regions and how can they be scaled or replicated?


4:00PM-4:05PMWelcoming Remarks by Cate Rogers, Assistant Secretary for Climate Resilience and Finance, Australian Department of Foreign Affairs and Trade
4:05PM-4:10PMOpening Remarks by Joan Larrea, CEO, Convergence
4:10PM-4:40PMPanel Discussion, moderated by Joan Larrea, CEO, Convergence

Panelists include:
- Dana Barsky, Global Head of Sustainability Strategy and Net Zero, Standard Chartered Bank
- Kitty Bu, Vice President, Asia,Global Energy Alliance for People and Planet (GEAPP)
- Lori Kerr, CEO, FinDev Canada
- Mason Wallick, Managing Director/CEO, Clime Capital, Southeast Asia Clean Energy Facility (SEACEF)
4:40PM-4:55PMOpen Discussion
4:55PM-5:00PMClosing Remarks by Joan Larrea, CEO, Convergence