Developed and developing countries have an important challenge ahead: to select, design and implement effective climate actions that will contribute to the global effort to reduce global warming to 1.5-2 degrees, as stated in the Paris Agreement. The International Energy Agency estimates that, to deliver on the climate pledges made in Paris, $13.5 trillion must be invested in low-carbon technologies and energy efficiency between 2015 and 2030, or $840 billion annually. Achieving this, will require much more than public sector support; private finance will also be needed together with new revenue models, financial products, markets, capacity and innovation.
Green Banks play an important role in delivering and facilitating the climate finance ambitions of the Paris Agreement while delivering multiple benefits to governments and companies in the form of climate resilience, new investment opportunities and jobs/growth potential.
Against this backdrop, the Sixth Annual Green Bank Congress will provide an opportunity to discuss the success stories and the lessons that have been learned by the growing collective of green banks, which are currently deploying $10 billion in capital for projects with a total value of $33 billion. Specifically, the Congress will focus on:
The annual Green Bank Congress brings together green finance practitioners, commercial bankers, development banks, private sector infrastructure companies, international climate organizations, government officials and others from around the world to discuss ways to increase deployment of low carbon, climate-resilient infrastructure through greater private investment.
Past events have been in New York City, United States; Tokyo, Japan; Kuala Lumpur, Malaysia; and Edinburgh, Scotland. The 2017 Green Bank Congress was held as an official side event at ClimateWeek in New York on September 18, 2017. It featured senior executives of Green Banks, the IDB and the OECD, a keynote by Howard Bamsey, Executive Director of the Green Climate Fund as well as a global set of high-level green financiers and policy makers from China, the United States, India, Mexico, Chile, Colombia, UK, Australia, Canada, Japan, and other countries. The agenda as well as presentations and photos from the 2017 Green Bank Congress can be accessed here.