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[Side event of the Standing Committee on Finance]
Standing Committee on finance (SCF):
Launch of flagship report for COP27
MR21, Sharm el Sheikh
13:15-14:15, Friday 11th November 2022
AGENDA
Part 1: Presentation of the latest reports of the SCF
• Introduction by co-chairs
• Key outcomes of the SCF’s work
➢ Fifth Biennial Assessment and Overview of Climate Finance Flows
➢ Progress report on mobilizing USD 100 billion per year
➢ Definitions of climate finance
➢ Work relating to Article 2.1(c) of the Paris Agreement
➢ SCF Forum on Finance for Nature-based Solutions
Part 2: Open discussion
• Ice-breaker Interventions
• Open discussion
• Closure
Opening & Introduction
Co-chairs: Zaheer Fakir & Gertraud Wollansky
Key outcomes of the SCF’s work
Fifth Biennial Assessment and Overview
of Climate Finance Flows
Co-facilitators: Diann Black-Layne
What’s in the Biennial Assessment?
Technical Report of the Biennial Assessment prepared by experts under guidance of SCF
Chapter I: Methodological
Issues
Chapter II: Overview of
Climate Finance Flows
Chapter III: Assessment of
Climate Finance
• MRV systems in and
outside the UNFCCC
• Operational definitions of
climate finance in use
• Measuring outcomes
• Global climate finance
estimates and trends
• Climate finance from
developed to developing
countries
• Recipient perspective
• Thematic, geographic
distribution
• Effectiveness: access,
ownership, needs,
additionality
• Global climate finance in
context
Summary prepared by the SCF
KEY FINDINGS: Methodological issues for transparency of climate finance
• New reporting tables will improve information on climate finance submitted by
Parties
✓ Sectors and sub-sector information
✓ Whether finance contributes to capacity building or technology transfer
✓ Voluntary reporting of grant-equivalent values
✓ Interactive web portal for summary information
• Improving coverage and granularity of reporting on climate finance received
• Doubling of countries developing or implementing climate finance tracking
systems
24 countries established
systems for national
budgets
Another 24 with
methodologies for
tracking in development
KEY FINDINGs: Range of views on mitigation activities per sector
Common and uncommon mitigation activities across 12 sustainable finance taxonomies
KEY GRAPHIC: Onion diagram frames different sources and channels
Blue shading
indicate global
climate finance
flows by sector
Green shading
indicate flows from
developed to
developing
countries, with
UNFCCC funds at
the core
KEY FINDING: 12% increase in global climate finance flows
KEY FINDING: Flows from developed to developing countries in 2019-2020
Bilateral Flows
Climate-specific financial
support +6% based on
preliminary data
• 57% / 28%
Multilateral climate funds
+21% in finance approvals
largely due to GCF Board,
GEF Council, and the
Clean Technology Fund
• 37% / 19%
MDBs
+17% in climate finance,
USD 30 billion per year
attributed to developed
countries
• 62% / 36%
More public finance flows for mitigation than for adaptation.
However, adaptation finance has grown significantly through bilateral channels and MDBs
compared to the 2017-2018 period
Adaptation +39%
(+USD 2.5 billion*)
Adaptation +1%
(+USD 8 million*)
Adaptation +48%
(+USD 6 billion*)
*Growth in annual average adaptation finance for period 2019-2020 compared to 2017-2018
KEY FINDING: Flows from developed to developing countries
• Grants continue to be a key
instrument particularly for
adaptation finance
• 57% of bilateral flows
• 99% of multilateral climate
funds
• Geographically, Asia and
African largest destination
• Share of support to
LDCs/SIDs relatively stable
• LDCs 20-25%
• SIDs 2-7%
KEY FINDING: Climate finance in context
Global climate
finance flows are
small relative to the
overall needs for the
climate transition
and to respond to
the needs of
developing countries
Report on progress towards achieving the
goal of mobilizing jointly USD 100 billion
per year to address the needs of
developing countries in the context of
meaningful mitigation actions and
transparency of implementation
Co-facilitators: Gabriela Blatter & Richard Muyungi
APPROACH: Progress in relation to 3 dimensions of the goal
Addressing the
needs of
developing
countries
The context of
meaningful mitigation
actions and
transparency on
implementation
Jointly
mobilizing USD
100 billion per
year by 2020
through to 2025
• Quantitative and qualitative
information in 3 dimensions and
the interlinkages between them
• Wide range of sources of
information
• Methodological challenges and
limitations
• Lack of detailed guidance
on how to measure and
track progress on the goal
• Data availability and
consistency
KEY FINDING: Trends in aggregate estimates towards achieving the goal
The report
confirmed the goal
was not met in
2020
Forward-looking:
the goal could be
achieved in 2023
with a range of
USD 101 billion to
USD 106 billion
KEY FINDING: Addressing the needs of developing countries
Goal not intended to match needs but
should address priorities
Proportional comparison of finance
flows to needs reported in SCF’s
2021 Needs Determination Report
• Adaptation represented 28-34% of
the finance in 2019-2020 against
14-52% of the share of needs
expressed in national reports.
KEY FINDING: Addressing the needs of developing countries (2)
46% of the finance is going to energy and transport sectors, whereas other sectors
play a greater role in terms of needs
KEY FINDING: Context of meaningful mitigation action and transparency on implementation
Challenge to establish any causal link
to finance flows, some notable trends
since 2010 include:
• Almost all Parties have signed and
ratified the Paris Agreement
• Parties communicating ambition on
mitigation increased from 88 in 2010
to 194 in 2021
• Updated NDCs result in up to 10-
14% aggregate emissions in 2025
above 2010 levels, improvement
from up 14-19% from initial NDCs.
Aggregate effect of NDCs up to
2021 compared to INDCs in 2016
Percentage
above 2010
emissions in
2025 with
conditional
actions included
KEY FINDING: Context of meaningful mitigation action, transparency on implementation (2)
• 96% Annex I Parties
reporting on climate
finance provided
and mobilized
• 94% non-Annex I
Parties NC2, 59%
NC3, mitigation
actions and needs
• 51% non-Annex I
Parties at least one
BUR on mitigation
actions, needs and
support received
KEY FINDING: Challenges and Lessons learned (1)
• Mobilization of private climate finance to and in developing countries
underperformed relative to expectations – 60% below expected amount in 2020
• Aspects in attracting and mobilizing private sector investment:
• cross-cutting enabling environment (e.g. macro-economic, policy and
currency stability; bankable project pipelines; financial market depth;
procurement regimes),
• role of grant finance in de-risking projects, and
• role of MDBs and guarantee instruments to scale up private finance.
• Macroeconomic headwinds, and high debt burdens in developing countries,
have implications on climate finance provision and mobilization to meet the goal
KEY FINDING: Challenges and Lessons learned (2)
• Role of international public climate finance remains critical
• Overcoming capacity gaps in building project pipelines and making better efforts
to mobilize private finance are important
• Increasing access to capital requires innovation – simplified access modalities to
funds, and innovative instruments to access capital markets
• Knowledge gaps hinder thorough assessment of all dimensions of the goal
• Robust goal-setting includes specifics and clear metrics or methods at the outset
to support successful implementation of the goal
Work on definitions of climate finance
Co-facilitators: Diann Black-Layne & Apollonia Miola
INPUTS: Work on definitions of climate finance
22
Submissions
received
18
Parties
submissions
on operational
definitions
Inputs to
SCF work
on
definitions
4
Non-Party
Stakeholder
submissions
• Synthesis of views on definitions from
submissions
• Overview of operational definitions of
climate finance in use under the Convention
and Paris Agreement (Parties, funds, SCF)
• Overview of operational definitions of
climate finance in use outside the
Convention and the Paris Agreement
(International institutions, Country-level)
• Considerations related to operationalizing
definitions and conceptual issues
Considerations and conceptual issues in operationalizing definitions
• Views on definitions of climate finance can differ in three main areas:
a) Climate-relevance: what climate-related activities should be financed?;
b) Financial instruments and accounting: how finance should be
accounted for?;
c) Actors: Which actors are involved, and what is the corresponding
direction of financial flows?
Synthesis of Parties views in submissions
• Is a common definition necessary? 8 submissions Yes, 8 submissions No.
• 5 submissions proposed definitions, others suggested existing operational
definition in use by the SCF was still valid or could dynamically capture new
developments
• What is included in a definition?
• All Parties reference mitigation and adaptation, some include other areas
such as loss and damage, disaster risk reduction, technology transfer, etc.
• Whether inclusion of instruments is a definition or a method for accounting?
Some Parties focus definitions on grants or concessional finance flows only
• Sources of finance relevant to a definition. Differing views on the role and
emphasis of public / private sources, and origination from domestic /
international contexts
Example of views on climate-relevance of activities – mitigation actions
Common and uncommon mitigation activities across 12 sustainable finance taxonomies
Example on accounting and reporting issues – key variables for consideration
Different definitions are
used for specific purposes
such as
• tracking global climate
finance,
• tracking finance from
developed to developing
countries, or
• tracking finance in
government budgets.
Work related to Article 2, paragraph 1(c),
of the Paris Agreement
Co-facilitators: Kevin Adams & Ali Waqas Malik
SCF work related to Article 2, paragraph 1(c) of the Paris Agreement
Work
related to
Article
2.1.(c)
COP26 & CMA3: Two mandates specific to Article 2, paragraph 1(c), for
consideration at COP27 and CMA4
Synthesis of
submissions regarding
ways to achieve Article
2, paragraph 1(c), of
the Paris Agreement,
including options for
approaches and
guidelines for
implementation
Further work on
mapping the available
information relevant to
Article 2, paragraph
1(c), of the Paris
Agreement, including its
reference to Article 9
thereof
KEY FINDINGS: Synthesis of views regards ways to achieve Article 2.1c
• Type of finance and actors identified that might be relevant, particularly asset
managers, banks, and governments
• Almost all submissions recognized it can include both public and private finance
flows, and in domestic and international contexts
• Many Parties put forward methodologies, policies and approaches to implement
Article 2.1c, including fiscal, macroeconomic and regulatory policy levers or
incentives, with the application of financial instruments, voluntary standards and
orientation of investments
• All Parties make reference to or see relationships between Article 2.1c and Article
9 of the Paris Agreement on the provision and mobilization of financial support to
developing countries
14 submissions received (11 Parties, 3 non-Party stakeholders)
KEY FINDINGS: Synthesis of views regards ways to achieve Article 2.1c
• A variety of views were expressed on further operationalizing Article 2.1(c),
relating amongst others to:
▪ The role of the CMA, the COP or the broader UNFCCC process, and the role of
the SCF
▪ The respective roles of the private financial sector and of governments
▪ Consideration of the national context and circumstances, equity and just
transition, in efforts to implement Article 2.1(c), including to avoid unintended
consequences and to take into account the risk of stranded assets
▪ Tracking and reporting modalities or guiding frameworks for assessing
consistency of finance flows and relevant policies
▪ Inclusion of Non-Party stakeholders in reporting progress made towards
achieving Article 2.1(c) and the sharing of best practices
MAPPING: Growth in public sector initiatives, actions relevant to Article 2.1c
• Governments, financial supervisory
authorities and central banks are active
on the national, regional and global level
to foster a more sustainable financial
system
• 16% increase in the number of policy and
regulatory measures on green finance.
• 33% increase in membership of Coalition
of finance ministers for climate action
• 20% increase in membership of the
Network for Greening the Financial
System
188
243
293
358
460
559
648
2015 2016 2017 2018 2019 2020 2021
Growth in cumulative green finance
policy and regulatory measures
MAPPING: Growth in initiatives and actions relevant to Article 2.1c
Investor initiatives +25-60% since 2020; Banking +76%; Corporate +65%
MAPPING: Geographical distribution of initiatives
• Private financial sector
initiatives have a footprint
in every world region, but
concentrated within
Europe and North
America
• Public sector initiatives
have broader global
coverage with increasing
participation of developing
countries in recent years
Regional composition (share) of private finance initiatives, as
at July 2022
MAPPING: Insights from the mapping
• A number of insights as well as efforts, possible challenges and opportunities
have been identified by financial sector actors to implement Article 2.1(c):
▪ Net-zero target setting and commitments need approaches, methods and
indicators to meet them
▪ Transparency: In response, ensuring the robustness, credibility and
transparency of financial sector targets and commitments is an emerging field
of activity and initiatives
▪ Fewer initiatives towards consistency of finance flows with climate-resilient
pathways are registered and related methodologies are at earlier stages of
development
▪ Persistent climate-related data gaps at country, sector, entity and asset level
continue to prove an obstacle for the development of transition and physical
risk assessments and decarbonization alignment methods
SCF Forum on Finance for Nature-based Solutions
Co-facilitator: Fiona Gilbert
PART2: Open discussions
Ice-breaker interventions
Preety Bhandari
Senior Adviser
World Resources Institute
Ice-breaker interventions
Joe Thwaites
International Climate Finance Advocate
Natural Resources Defense Council
Ice-breaker interventions
Eric Usher
Head of UNEP Finance Initiative
United Nations Environment Programme
Open discussions
Closure
Thank you for your participation

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SCF_COP27_Side-event_11Nov_Reportslidepack.pdf

  • 1. [Side event of the Standing Committee on Finance] Standing Committee on finance (SCF): Launch of flagship report for COP27 MR21, Sharm el Sheikh 13:15-14:15, Friday 11th November 2022
  • 2. AGENDA Part 1: Presentation of the latest reports of the SCF • Introduction by co-chairs • Key outcomes of the SCF’s work ➢ Fifth Biennial Assessment and Overview of Climate Finance Flows ➢ Progress report on mobilizing USD 100 billion per year ➢ Definitions of climate finance ➢ Work relating to Article 2.1(c) of the Paris Agreement ➢ SCF Forum on Finance for Nature-based Solutions Part 2: Open discussion • Ice-breaker Interventions • Open discussion • Closure
  • 3. Opening & Introduction Co-chairs: Zaheer Fakir & Gertraud Wollansky
  • 4. Key outcomes of the SCF’s work
  • 5. Fifth Biennial Assessment and Overview of Climate Finance Flows Co-facilitators: Diann Black-Layne
  • 6. What’s in the Biennial Assessment? Technical Report of the Biennial Assessment prepared by experts under guidance of SCF Chapter I: Methodological Issues Chapter II: Overview of Climate Finance Flows Chapter III: Assessment of Climate Finance • MRV systems in and outside the UNFCCC • Operational definitions of climate finance in use • Measuring outcomes • Global climate finance estimates and trends • Climate finance from developed to developing countries • Recipient perspective • Thematic, geographic distribution • Effectiveness: access, ownership, needs, additionality • Global climate finance in context Summary prepared by the SCF
  • 7. KEY FINDINGS: Methodological issues for transparency of climate finance • New reporting tables will improve information on climate finance submitted by Parties ✓ Sectors and sub-sector information ✓ Whether finance contributes to capacity building or technology transfer ✓ Voluntary reporting of grant-equivalent values ✓ Interactive web portal for summary information • Improving coverage and granularity of reporting on climate finance received • Doubling of countries developing or implementing climate finance tracking systems 24 countries established systems for national budgets Another 24 with methodologies for tracking in development
  • 8. KEY FINDINGs: Range of views on mitigation activities per sector Common and uncommon mitigation activities across 12 sustainable finance taxonomies
  • 9. KEY GRAPHIC: Onion diagram frames different sources and channels Blue shading indicate global climate finance flows by sector Green shading indicate flows from developed to developing countries, with UNFCCC funds at the core
  • 10. KEY FINDING: 12% increase in global climate finance flows
  • 11. KEY FINDING: Flows from developed to developing countries in 2019-2020 Bilateral Flows Climate-specific financial support +6% based on preliminary data • 57% / 28% Multilateral climate funds +21% in finance approvals largely due to GCF Board, GEF Council, and the Clean Technology Fund • 37% / 19% MDBs +17% in climate finance, USD 30 billion per year attributed to developed countries • 62% / 36% More public finance flows for mitigation than for adaptation. However, adaptation finance has grown significantly through bilateral channels and MDBs compared to the 2017-2018 period Adaptation +39% (+USD 2.5 billion*) Adaptation +1% (+USD 8 million*) Adaptation +48% (+USD 6 billion*) *Growth in annual average adaptation finance for period 2019-2020 compared to 2017-2018
  • 12. KEY FINDING: Flows from developed to developing countries • Grants continue to be a key instrument particularly for adaptation finance • 57% of bilateral flows • 99% of multilateral climate funds • Geographically, Asia and African largest destination • Share of support to LDCs/SIDs relatively stable • LDCs 20-25% • SIDs 2-7%
  • 13. KEY FINDING: Climate finance in context Global climate finance flows are small relative to the overall needs for the climate transition and to respond to the needs of developing countries
  • 14. Report on progress towards achieving the goal of mobilizing jointly USD 100 billion per year to address the needs of developing countries in the context of meaningful mitigation actions and transparency of implementation Co-facilitators: Gabriela Blatter & Richard Muyungi
  • 15. APPROACH: Progress in relation to 3 dimensions of the goal Addressing the needs of developing countries The context of meaningful mitigation actions and transparency on implementation Jointly mobilizing USD 100 billion per year by 2020 through to 2025 • Quantitative and qualitative information in 3 dimensions and the interlinkages between them • Wide range of sources of information • Methodological challenges and limitations • Lack of detailed guidance on how to measure and track progress on the goal • Data availability and consistency
  • 16. KEY FINDING: Trends in aggregate estimates towards achieving the goal The report confirmed the goal was not met in 2020 Forward-looking: the goal could be achieved in 2023 with a range of USD 101 billion to USD 106 billion
  • 17. KEY FINDING: Addressing the needs of developing countries Goal not intended to match needs but should address priorities Proportional comparison of finance flows to needs reported in SCF’s 2021 Needs Determination Report • Adaptation represented 28-34% of the finance in 2019-2020 against 14-52% of the share of needs expressed in national reports.
  • 18. KEY FINDING: Addressing the needs of developing countries (2) 46% of the finance is going to energy and transport sectors, whereas other sectors play a greater role in terms of needs
  • 19. KEY FINDING: Context of meaningful mitigation action and transparency on implementation Challenge to establish any causal link to finance flows, some notable trends since 2010 include: • Almost all Parties have signed and ratified the Paris Agreement • Parties communicating ambition on mitigation increased from 88 in 2010 to 194 in 2021 • Updated NDCs result in up to 10- 14% aggregate emissions in 2025 above 2010 levels, improvement from up 14-19% from initial NDCs. Aggregate effect of NDCs up to 2021 compared to INDCs in 2016 Percentage above 2010 emissions in 2025 with conditional actions included
  • 20. KEY FINDING: Context of meaningful mitigation action, transparency on implementation (2) • 96% Annex I Parties reporting on climate finance provided and mobilized • 94% non-Annex I Parties NC2, 59% NC3, mitigation actions and needs • 51% non-Annex I Parties at least one BUR on mitigation actions, needs and support received
  • 21. KEY FINDING: Challenges and Lessons learned (1) • Mobilization of private climate finance to and in developing countries underperformed relative to expectations – 60% below expected amount in 2020 • Aspects in attracting and mobilizing private sector investment: • cross-cutting enabling environment (e.g. macro-economic, policy and currency stability; bankable project pipelines; financial market depth; procurement regimes), • role of grant finance in de-risking projects, and • role of MDBs and guarantee instruments to scale up private finance. • Macroeconomic headwinds, and high debt burdens in developing countries, have implications on climate finance provision and mobilization to meet the goal
  • 22. KEY FINDING: Challenges and Lessons learned (2) • Role of international public climate finance remains critical • Overcoming capacity gaps in building project pipelines and making better efforts to mobilize private finance are important • Increasing access to capital requires innovation – simplified access modalities to funds, and innovative instruments to access capital markets • Knowledge gaps hinder thorough assessment of all dimensions of the goal • Robust goal-setting includes specifics and clear metrics or methods at the outset to support successful implementation of the goal
  • 23. Work on definitions of climate finance Co-facilitators: Diann Black-Layne & Apollonia Miola
  • 24. INPUTS: Work on definitions of climate finance 22 Submissions received 18 Parties submissions on operational definitions Inputs to SCF work on definitions 4 Non-Party Stakeholder submissions • Synthesis of views on definitions from submissions • Overview of operational definitions of climate finance in use under the Convention and Paris Agreement (Parties, funds, SCF) • Overview of operational definitions of climate finance in use outside the Convention and the Paris Agreement (International institutions, Country-level) • Considerations related to operationalizing definitions and conceptual issues
  • 25. Considerations and conceptual issues in operationalizing definitions • Views on definitions of climate finance can differ in three main areas: a) Climate-relevance: what climate-related activities should be financed?; b) Financial instruments and accounting: how finance should be accounted for?; c) Actors: Which actors are involved, and what is the corresponding direction of financial flows?
  • 26. Synthesis of Parties views in submissions • Is a common definition necessary? 8 submissions Yes, 8 submissions No. • 5 submissions proposed definitions, others suggested existing operational definition in use by the SCF was still valid or could dynamically capture new developments • What is included in a definition? • All Parties reference mitigation and adaptation, some include other areas such as loss and damage, disaster risk reduction, technology transfer, etc. • Whether inclusion of instruments is a definition or a method for accounting? Some Parties focus definitions on grants or concessional finance flows only • Sources of finance relevant to a definition. Differing views on the role and emphasis of public / private sources, and origination from domestic / international contexts
  • 27. Example of views on climate-relevance of activities – mitigation actions Common and uncommon mitigation activities across 12 sustainable finance taxonomies
  • 28. Example on accounting and reporting issues – key variables for consideration Different definitions are used for specific purposes such as • tracking global climate finance, • tracking finance from developed to developing countries, or • tracking finance in government budgets.
  • 29. Work related to Article 2, paragraph 1(c), of the Paris Agreement Co-facilitators: Kevin Adams & Ali Waqas Malik
  • 30. SCF work related to Article 2, paragraph 1(c) of the Paris Agreement Work related to Article 2.1.(c) COP26 & CMA3: Two mandates specific to Article 2, paragraph 1(c), for consideration at COP27 and CMA4 Synthesis of submissions regarding ways to achieve Article 2, paragraph 1(c), of the Paris Agreement, including options for approaches and guidelines for implementation Further work on mapping the available information relevant to Article 2, paragraph 1(c), of the Paris Agreement, including its reference to Article 9 thereof
  • 31. KEY FINDINGS: Synthesis of views regards ways to achieve Article 2.1c • Type of finance and actors identified that might be relevant, particularly asset managers, banks, and governments • Almost all submissions recognized it can include both public and private finance flows, and in domestic and international contexts • Many Parties put forward methodologies, policies and approaches to implement Article 2.1c, including fiscal, macroeconomic and regulatory policy levers or incentives, with the application of financial instruments, voluntary standards and orientation of investments • All Parties make reference to or see relationships between Article 2.1c and Article 9 of the Paris Agreement on the provision and mobilization of financial support to developing countries 14 submissions received (11 Parties, 3 non-Party stakeholders)
  • 32. KEY FINDINGS: Synthesis of views regards ways to achieve Article 2.1c • A variety of views were expressed on further operationalizing Article 2.1(c), relating amongst others to: ▪ The role of the CMA, the COP or the broader UNFCCC process, and the role of the SCF ▪ The respective roles of the private financial sector and of governments ▪ Consideration of the national context and circumstances, equity and just transition, in efforts to implement Article 2.1(c), including to avoid unintended consequences and to take into account the risk of stranded assets ▪ Tracking and reporting modalities or guiding frameworks for assessing consistency of finance flows and relevant policies ▪ Inclusion of Non-Party stakeholders in reporting progress made towards achieving Article 2.1(c) and the sharing of best practices
  • 33. MAPPING: Growth in public sector initiatives, actions relevant to Article 2.1c • Governments, financial supervisory authorities and central banks are active on the national, regional and global level to foster a more sustainable financial system • 16% increase in the number of policy and regulatory measures on green finance. • 33% increase in membership of Coalition of finance ministers for climate action • 20% increase in membership of the Network for Greening the Financial System 188 243 293 358 460 559 648 2015 2016 2017 2018 2019 2020 2021 Growth in cumulative green finance policy and regulatory measures
  • 34. MAPPING: Growth in initiatives and actions relevant to Article 2.1c Investor initiatives +25-60% since 2020; Banking +76%; Corporate +65%
  • 35. MAPPING: Geographical distribution of initiatives • Private financial sector initiatives have a footprint in every world region, but concentrated within Europe and North America • Public sector initiatives have broader global coverage with increasing participation of developing countries in recent years Regional composition (share) of private finance initiatives, as at July 2022
  • 36. MAPPING: Insights from the mapping • A number of insights as well as efforts, possible challenges and opportunities have been identified by financial sector actors to implement Article 2.1(c): ▪ Net-zero target setting and commitments need approaches, methods and indicators to meet them ▪ Transparency: In response, ensuring the robustness, credibility and transparency of financial sector targets and commitments is an emerging field of activity and initiatives ▪ Fewer initiatives towards consistency of finance flows with climate-resilient pathways are registered and related methodologies are at earlier stages of development ▪ Persistent climate-related data gaps at country, sector, entity and asset level continue to prove an obstacle for the development of transition and physical risk assessments and decarbonization alignment methods
  • 37. SCF Forum on Finance for Nature-based Solutions Co-facilitator: Fiona Gilbert
  • 39. Ice-breaker interventions Preety Bhandari Senior Adviser World Resources Institute
  • 40. Ice-breaker interventions Joe Thwaites International Climate Finance Advocate Natural Resources Defense Council
  • 41. Ice-breaker interventions Eric Usher Head of UNEP Finance Initiative United Nations Environment Programme
  • 44. Thank you for your participation