Eventos
01 Septiembre , 2022

Towards COP27: Regional forums on Climate Initiatives to Finance Climate Action and the SDGs Economic Roundtable on Climate Finance – The Energy Transition Transition in Latin America and the Caribbean

Climate Governance


01 September 2022 - 02 August 2022

Webinar

Ratio: 0 / 5

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Ahead of COP27, the UN system, leveraging its convening power, network of experts and influencers at regional levels, will partner with the incoming Egyptian Presidency of COP27 and the UN Climate Change High-Level Champions for COP26 and COP27 to organize a series of five regional forums on “Towards COP27: Regional Forums on Climate Initiatives to Finance Climate Action and the SDGs” bringing together key stakeholders from public and private sectors, to catalyze additional private sector investment in climate mitigation and adaptation in line with the SDGs. Participants, including public and private financial institutions and countries, initiatives and organizations preparing projects will work together to identify and address financing bottlenecks, to showcase and learn from success stories of private sector investment and share investment-ready climate initiatives in Member States to spur further investment.

Public and private climate finance must flow at the necessary scale and pace to accelerate sustainable development aligned with the Paris Agreement without further overburdening the already stretched fiscal space of most developing countries to invest in climate action and sustainable development is not further overburdened. With a focus on SDGs 7, 9, 13 and 17 as vehicles for change, the five regional forums aim at taking a holistic approach towards financing the 2030 Agenda for Sustainable Development in the new global environment and delivering urgent near-term action.

Trillions of dollars’ worth of investments are needed each year to achieve the rapid, far-reaching transformations required to address the impact of the climate crisis from the perspectives of mitigation and adaptation. Developed countries and private sector investors have yet to deliver on the annual $100-billion commitment of climate finance agreed to in 2009, which was to be reached by 2020, and progress towards aligning all financial flows with the SDGs and Paris Agreement goals is nowhere near what is needed. Lack of access to finance and investments aligned with climate ambitions, lack of prefeasibility and/or feasibility studies, increased cost of borrowing for countries due to real and perceived risks as well as reduced fiscal space remain at the root of significant delays in the necessary finance flowing to transform all sectors of the economy from transport to agriculture to manufacturing to energy, to reduce

emissions at the pace required to limit global warming to 1.5 degrees in the context of the just transition and build resilience to the impacts of climate change. Furthermore, unlocking access to climate finance, especially in emerging markets and developing economies, is crucial to close the adaptation gap and to build resilience and protect the vulnerable from climate change.

There has been considerable growth in private sector commitments to setting and pursuing science-aligned portfolio decarbonization targets, through the Race to Zero and the Glasgow Financial Alliance for Net Zero, and an increase in green and sustainable debt financing instruments, such as green, blue, and sustainability-linked bonds, in the last five years. Similarly, innovative financing mechanisms like debt for climate swaps are also gaining traction, and the business case for investing in adaptation and resilience to manage and reduce physical climate risk is becoming clearer. However, given the enormous financing requirements, the scale that is needed to ramp up climate action and advance the SDGs is not there. This is because an effective change requires a holistic and cross-sectoral approach. This means changes in enabling conditions for private finance as well as the operating models of development finance institutions and transparency from government leaders on the projects required to achieve their sustainability goals. There is still a disconnect between investors and projects in need of investment. The regional forums will focus on convening development cooperation partners and private sector representatives together with countries, initiatives and platforms looking to raise capital for climate investments to foster greater understanding, connectivity and ultimately catalyze increased investment in critical climate projects.

The thematic focus of the roundtable in Latin America and the Caribbean will be on financing sectors linked with the energy transition and climate change resilience.  The COVID-19 pandemic and the conflict between the Russian Federation and Ukraine have disrupted already-strained supply chains, upended energy markets and raised energy security considerations globally.  At the same time, Latin America and the Caribbean is uniquely positioned to benefit from a regional and global transition to renewable energy. The regional resources endowment is particularly strong in inputs required for the
energy transition (from lithium to copper; from hydro to solar) – but recent history has shown that managing resource extraction requires complex and delicate governance to spur growth.  Improving clean and affordable energy access is important for addressing social vulnerability and clean energy production can be a catalyst for growth across sectors.  Moreover, energy prices also have secondary impacts on food prices, which are on the rise in the LAC region as well.

In a highly urbanized region, investments in electromobility and related infrastructure are needed to render the growing transport sector clean, efficient, and equitable. Finally, the roundtable will also address the opportunities for the green transition and fostering climate change resilience with a focus on regional initiatives to support the most vulnerable countries, including the small island developing states of the Caribbean.

 

What are the event objectives?

·       Facilitate engagement with a broad set of partners and stakeholders, to accelerate public and private investment in concrete initiatives, platforms, and projects, and identify and encourage policy actions that correspond to the region’s sustainable energy transition and narrow the current gap in Paris-aligned financial flows.

·       Address barriers to access to financing for development in the different subregions of Latin America and the Caribbean and consider current financing and debt challenges.

·       Identify and share climate finance and investment opportunities that also support the acceleration of the region’s sustainable energy transition

·       Highlight successful examples of countries leveraging investment opportunities for climate action as well as financial institutions and investors turning climate commitments into action and financial flows.

·       Connect representative groups of development partners, governments, and private sector investors to propose and consider concrete instruments and initiatives that accelerate action towards the goals of the Paris Agreement and the 2030 Agenda for Sustainable Development.

 

Preliminary program

Day 1

TIME & ACTIVITY

FLOW

9:00 – 10.00

Opening ceremony

 

·       Amina J. Mohammed, United Nations Deputy Secretary-General (video message)

·       H.E. Dr. Sameh Shoukry, Minister of Foreign Affairs of the Arab Republic of Egypt, President-designate COP27 (video message)

·       Mahmoud Mohieldin, Special Envoy on Financing the 2030 Agenda, Climate Champion COP27 

·       León de la Torre Krais, Ambassador of the European Union in Chile  

·       Joseluis Samaniego, Director of the Sustainable Development and Human Settlements Division, ECLAC

10:00 – 11.30

Energy transition roundtable

 

Moderation and introductory remarks on a just and equitable energy transition in LAC

·       Jeannette Sánchez, Director of the Natural Resources Division, ECLAC

 

Facilitated discussion where representatives of the energy and finance ministries, and relevant financial institutions present project portfolios on the energy transition, highlighting opportunities for investments.

 

Cases:

·       David Abiamofo, Minister of Natural Resources, Suriname

·       Jorge Rivera Staff, National Energy Secretary, Panamá

·       Jerónimo Verdugo, Chief of the Project Division, Ministry of Energy, Chile

·       Bernardita Infante, Corporate Finance Manager, Engie, Chile

·       Maurizio Bezzeccheri, Head of Latin America Region, Enel

·       Fernando Branger, Senior Executive and Energy Coordinator, Department of Transport and Energy, CAF- Development Bank of Latin America

·       Rigoberto Ariel Yépez-García, Manager, Infrastructure and Energy Sector, Inter-American Development Bank (IDB)

 

Q&A with financial institutions other stakeholders to define their interest to be engaged in portfolio development and financing.

 

4. Wrap up, agreements and road map to COP27

11.30 – 12:00

Coffee break

Networking

12:00 – 13.30

Electromobility roundtable

 

Moderation and introductory remarks on the value chains for urban electromobility in LAC

·       Joseluis Samaniego, Director of the Sustainable Development and Human Settlements Division, ECLAC

 

Facilitated discussion where representatives of national and subnational governments and relevant financial institutions, present project portfolios on the electromobility value chain development, highlighting opportunities for investments.

 

Cases:

·       José Salvador Handal Candray, Secretary of the National Council of Energy, El Salvador

·       Sandra Briceño Pérez, Department of Climate Financing and Means of Implementation, Climate Change Division, Ministry of the Environment, Chile

·       Alimar Benítez, Director for Mobility Intelligence, District Secretariat for Mobility, Bogotá, Colombia

·       Wagner Chagas, Director of Operations, SPTrans, São Paulo, Brazil

·       María Belén Loor, Executive Director, CONQUITO, Quito, Ecuador

·       Felipe Cevallos Becker, General Manager and Co-founder, Reborn Electric Motors, Chile

 

Q&A with financial institutions and other stakeholders to define their interest to be engaged in portfolio development and financing.

 

Wrap up, agreements and road map to COP27

13.30 -14.30

Lunch

 

 

14.30- 16.00

Presentations by development banks on relevant climate financing project pipelines

 

Moderation and introductory remarks

·       Daniel Titelman, Director of the Economic Development Division, ECLAC

Presentations:

·       Rigoberto Ariel Yépez-García, Manager, Infrastructure and Energy Sector, IDB

·       Joaquim Leite, Senior Country Engagement and Finance Specialist Interim Regional Manager for LAC, NDC Partnership Support Unit

·       Edgar Salinas, Senior Executive of Climate Change Coordination, CAF -Development Bank of Latin America

16.00-16.15

Wrap up and closing remarks

·       Nigel Topping, Climate Champion COP26

·       Joseluis Samaniego, Director of the Sustainable Development and Human Settlements Division, ECLAC

 

16.15 – 18.00

Cocktail

Networking

 

Day 2

TIME & ACTIVITY

FLOW

9:00 – 10:30

Sustainable and equitable critical and strategic mineral supply chains for the energy transition Roundtable

 

Moderation and introductory remarks on sustainable and equitable critical and strategic mineral supply chains for the energy transition in LAC

·       Jeannette Sánchez, Director of the Natural Resources Division, ECLAC

 

Facilitated discussion where representatives of ministries of mining and relevant financial institutions present project portfolios on mining value chain development, highlighting opportunities for investments.

 

Presentations:

·       Franklin Molina, Minister for Hydrocarbons and Energy, Plurinational State of Bolivia

·       Pamela Morales, Undersecretary for Mining Development, Ministry of Productive Development, Argentina

·       Willy Kracht, Undersecretary for Mining, Ministry of Mining, Chile

·       Roberto Salvarezza, President, YPF Technology (Y-TEC), Argentina

·       Leonardo Valenzuela, Deputy Director of Mining Contracts, Production Development Corporation of Chile (CORFO). Joint presentation with:

·       Patricio Jarpa, General Manager of Nanotec

·       Andreé Henríquez, Executive Director of the Technological Center for Circular Economy

·       Marcelino Madrigal, Chief of the Energy Division, IDB

Q&A with financial institutions and other stakeholders to define their interest to be engaged in portfolio development and financing.

 

Wrap up, agreements and road map to COP27

 

10:30 – 10:45

Coffee break

Networking

10:45 – 12:15

Presentation of initiatives on Climate financing for resilience in Caribbean SIDS and other vulnerable states

Moderator:  Dillon Alleyne, Deputy Director of ECLAC Subregional headquarters for the Caribbean 

 

·       Hon. Christopher Coye, Minister of State in the Ministry of Finance and Economic Development, Belize

·       Sheldon Mclean, Coordinator, Economic Development Unit, ECLAC Subregional Office for the Caribbean

·       Sabina Frederic, President of the Argentine Agency for International Cooperation and Humanitarian Assistance-White Helmets, Argentina (pro tempore Presidency of CELAC)

·       Nadia Spencer-Henry, Debt Manager, Ministry of Finance and Corporate Governance, Antigua and Barbuda

·       Dr. Angus Friday, Blue Economy Director, Waitt Institute

·       Colin Young, Executive Director, Caribbean Community Climate Change Centre

 

Exchange with financial institutions and other stakeholders

 

12.15- 12.30

Closing remarks and next steps towards COP 27

·       Nigel Topping, Climate Champion COP26     

·       Ambassador Wael Aboulmagd, Special Representative of the COP 27 President-Designate

·       Mahmoud Mohieldin, Special Envoy on Financing the 2030 Agenda, Climate Champion COP27     

·       Joseluis Samaniego, Director of the Sustainable Development and Human Settlements Division, ECLAC

Meeting Number: 829 9518 6574

Meeting Password: 792349

Go to: https://cepal-org.zoom.us/webinar/register/WN_ghcCV-KVTWWF8WsUc1l6Sw





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