Climate Bonds Initiative at COP28

Join forces with the Climate Bonds Initiative team at COP28 in Dubai!

COP28 UAE brings the world together for global transformative climate action. As the countdown begins, Climate Bonds Initiative is preparing for a substantial presence, with our team engaged in various conference events.

If you are planning to attend COP28 in Dubai and would like to connect with our team, do not hesitate to reach out. We look forward to engaging with you!

We believe that global collaboration can unlock improved, preferential access to capital to finance the transition.

While at COP28, we will advocate and work with others to progress 5 key actions to redirect investment flows to deliver climate mitigation and resilience globally.

1. Investors bring climate and transition risks and opportunities to the centre of decision-making. This will reveal the opportunities opened by the just transition and protect investments from climate-related risks.

2. Development banks unlock USD5tn for green by tilting their own spending and crowding in private finance:¹ Climate priorities, particularly resilience, are inextricably linked to DFI priorities of safeguarding social development. The EIB, for example, has already exceeded its 50% green investment target.² DFIs can also address project risks in otherwise high-risk markets to crowd in private finance to fund a just transition.

3. Governments switch to green public and private procurement to drive large-scale, price-reducing demand for green products. Implementing green public procurement and aggregating private demand will scale the market and grow the pipeline of investment opportunities. For example, under South Korea’s green procurement programmes, 109 items are subject to minimum green standards.³

4. Regulators ensure global interoperability of sustainable finance and risk frameworks to support large-scale, cross-border capital flows. Governments and regulators can ensure compatibility of taxonomies. Rwanda’s green taxonomy, launching at COP28, is interoperable with the EU taxonomy which will allow crossborder investment.

5. Corporates issue green and sustainable bonds to increase access to capital for green and resilient projects. There is a high unmet demand for 1.5ºC-aligned green bonds. Green bonds have consistently achieved higher oversubscription compared to vanilla equivalents in the primary market for 7 years. Brazil recently became the 50th sovereign to issue a GSS+ bond – sovereign issuance is an important trigger to accelerate markets.

In an increasingly fragmented world, the COP process proves that climate is an area where global cooperation remains strong. Putting climate mitigation and resilience at the centre of action will ensure investments are future-fit.

¹Current multilateral Development Banks (MDBs) total assets are USD1.9tn, https://www.dt.mef.gov.it/export/sites/sitodt/modules/documenti_it/news/news/CAF-Review-Report.pdf A USD5tn estimate is based on a 50% climate, just transition and resilience spending and a 5:1 private capital mobilisation target. To note: the World Bank estimates current mobilisation to be between 2:1 and 5:1, https://thedocs.worldbank.org/en/doc/883731485963739623- 0270022017/original/frombillionstoTrillionsMDBcontributionstofinancingfordevelopment.pdf 

² https://www.eib.org/en/publications/20230176-eib-group-climate-bank-roadmap-mid-term-review

³ Korea has been operating the Mandatory Purchase of Green Products Programme since 2005 and the Minimum Green Standard Product Purchase Programme since 2010. https://forourclimate.org/hubfs/%5BNEXT-SFOC%5D%20Revisiting%20Korean%20Green%20Public%20Procurement%20Policies%20to%20Promote%20Green%20Steel%20Demand.pdf 

As climate impacts intensify, the urgency to finance climate resilience grows. The adaptation finance gap is substantial, but so are the opportunities for economic growth and impactful returns on investments. Embracing this can unlock trillions, addressing climate disasters while fostering growth.

Join us and AIIB  for the Climate Bonds Initiative Session: Catalysing Investments in Resilience at COP28, where we'll delve deep into the motivations, challenges, and success stories surrounding resilience-focused green bonds.

Embark on a journey to understand the intricate motivations driving investors to fund resilience projects and discover how they critically evaluate the effectiveness of related bonds. Engage in conversations that dissect the barriers preventing increased investment in resilience, focusing on challenges faced by investors and potential solutions.

Date: December 1, 2023

Time: 3:00 - 4:00 p.m. (GMT+4)

Venue: Blue Zone, AIIB Pavilion

Format: In-person (livestreamed)

Save the date and share with you network that will have access to the blue zone!

For deeper insights and ongoing updates, explore our LinkedIn event page

 

Our team will be speaking at various events, highlights include (all times GST):

1/12, 08:00: California Insurance Commissioner Event – Frontloading equity in financing coastal resilience,  Ocean Pavilion, Blue Zone  (Climate Bonds speaker: Sean Kidney)

2/12, 14:00: Rwanda Green Taxonomy Showcase, Rwanda Pavilion, Blue Zone (Climate Bonds speaker: Sean Kidney)

2/12,  14:00: Pioneering Evidence-Based Finance Instruments for Food Systems Transformation, Food and Agriculture Pavilion of the CGIAR, FAO, IFAD, Rockefeller Foundation (Climate Bonds speaker: Ujala Qadir)

3/12, 10:00: Launch of New Study Assessing the Critical Role of Inter-Connection to Support a Paris-Aligned Energy Transition, Kinsale Meeting Room, Voco Bonnington Dubai, Jumeirah Lakes Towers, Cluster J (Climate Bonds speaker: Ana Diaz)

3/12, 11:30: Fundacion Biodiversidad (F.S.P.) Panel: Fostering Adaptation to Climate Change, Spanish Pavilion (Climate Bonds speaker: Sean Kidney)

3/12, 11:30: S&P Global - Financing the Transition – Market Supports for Transformation, Climate Innovation Zone, Madinat Jumeirah Dubai (Climate Bonds speaker: Sean Kidney)

3/12, 13:15: International Climate Dialogue (ICD) and the Taiwan Climate Partnership (TCP)  Side Event - 'Green Finance',  A3-205, Thematic Arenas 3, Opportunity, Blue Zone  (Climate Bonds speaker: Sean Kidney)

4/12, 11:30: UNDRR Event on taxonomies, Iraq Pavilion (Climate Bonds speaker: Sean Kidney)

4/12, 13:00: India Pavilion Side Event – Mobilizing Climate Finance for Low Carbon Development, India Pavilion, Blue Zone (Climate Bonds speaker: Sean Kidney)

4/12, 13:00: UNFCCC Side Event – Sustainable Energy Development –  from Control of Energy Consumption & Energy Consumption Intensity to Control of Carbon Emissions & Carbon Emissions Intensity, China Pavilion, Blue Zone (Climate Bonds speaker: Ana Diaz)

4/12, 14:00: FAIRR  Initiative – Climate-Finance-Food Nexus: Navigating the Climate Risks and Opportunities, Speaker Food4Climate Pavillion, Blue Zone (Climate Bonds speaker: Sean Kidney)

4/12, 15:00: British Standards Institute (BSI) and the International Organization for Standardization (ISO) - Roundtable: Sustainable Targets and Net-Zero targets – The Role of Standards,  ISO Standards Cafe, Blue Zone, Opportunity District, Thematic Arena (Climate Bonds speaker: Sean Kidney)

4/12, 15:00: Scaling blended Finance Mechanisms for Financing Just Transition in Emerging Economies, IEEFA at Expo City Dubai Green Zone (Climate Bonds speaker: Neha Kumar)

4/12, 16:00: Barriers to investing in EM and mobilizing debt markets for a Just Transition, Sustainable Energy for All Pavilion, Blue Zone (Climate Bonds speaker: Lily Burge)

4/12, 16:30: Emirates NBD Capital – Embracing green capital markets, Climate Finance Hub Stage, Green Zone (Climate Bonds speaker: Sean Kidney)

4/12, 17:30: Private Capital Mobilisation for Emerging Markets and Developing Countries (EDMCs), joint MDBs Pavilion (Climate Bonds speaker: Sean Kidney)

5/12, 18:00: EU Side Event – How governments can take advantage of the green bonds market for a just green transition, DU RTG Studio, Brussels Channel 2/ COP EU pavilion (Climate Bonds speaker: Sean Kidney)

6/12, 11:30: Bloomberg Investing Climate Intelligence Seminar – How investors push climate action, Jumeriah Towers Hotel (Climate Bonds speaker: Sean Kidney)

6/12, 13:30: Advancing Energy Equity Transition, Amplifying Enterprise and Market Leadership, Accelerating Clean Technology Innovation, China Pavilion EXPO 2020  (Climate Bonds speaker: Fabio Passaro)

6/12, 14:00: Turbocharging EMDEs’ Energy Transition by Addressing Local Currency Risk in Green Bonds, IRENA Pavilion, Blue Zone (Climate Bonds speaker: Lily Burge)

6/12, 14:00: World Bank Event – Unlocking the Potential of Railways through Climate Finance,  World Bank Pavillion, Blue Zone (Climate Bonds speaker: Sean Kidney)

7/12, 12:15: Bain Event – Unlocking Climate Transition Finance, Global Goals Room / Climate Action Innovation Zone, Madinat Jumeriah Conference Centre (Climate Bonds speaker: Sean Kidney)

7/12, 16:00: World Climate Summit – The Investment COP - Six Years to Succeed: Advancing Policy, Innovation and Investments to Meet 2030 Targets, Conrad Dubai (Climate Bonds moderator: Sean Kidney)

8/12, 10:00: Classification Mechanisms for Sustainable Economic Activities around the World, Bellona Pavilion, Blue Zone (Climate Bonds speaker: Sean Kidney, Magali Van Coppenolle)

8/12, 14:35: GFG Alliance,  World Climate Summit Side Event – Unlocking the Opportunity in ‘hard-to-abate’ sectors, Conrad Dubai  (Climate Bonds speaker: Sean Kidney)

9/12, 11:00: ADB Event –  'Innovative Finance for Nature-based Solutions' - 'Scaling up Nature Bonds', ADB Pavillion, Blue Zone (Climate Bonds speaker: Sean Kidney)

9/12, 16:30: Australian Sustainable Finance Institute (ASFI) – Accelerating transition finance for climate action, Australia Pavilion (Climate Bonds speaker: Sean Kidney)

Climate Bonds is also a partner of the World Climate Summit, hosted by the World Climate Foundation 7-8 December at the Conrad Dubai