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UN-convened Net-Zero Asset Owner Alliance to Convene High-level Forum on the Potential of Blended Finance

30.9.2022 12:37:00 CEST | Business Wire | Press Release

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Don't miss this special online event by the UN-convened Net-Zero Asset Owner Alliance and United Nations Environment Programme Finance Initiative (UNEP FI), featuring Dr. Mahmoud Mohieldin, UN Climate Champion, Dr. Jörg Kukies, German Chancellery and Dr. Andrea Hauser, KfW.

Register for Scaling Blended Finance for Climate Solution Investment in Emerging Markets (5 Oct 2022 at 16.00 CEST) here.

Ahead of the International Monetary Fund/The World Bank AGM and COP27, this forum aims to elevate the topic of blended finance to decision-makers at the highest level, without whom progress is impossible. The agenda will include a keynote address by Selwin Hart, UN Special Adviser to the Secretary-General on Climate Action.

Panel discussion to include Marc-Andre Blanchard, Executive Vice-President and Global Head of Sustainability, Caisse de dépôt et placement du Québec (CDPQ), Magnus Billing, CEO, Alecta, Chris Clubb, Managing Director, Convergence Blended Finance, Nick O'Donohoe, CEO, British International Investment, and Günther Thallinger, Allianz SE Board Member and Chair, UN-convened Net-Zero Asset Owner Alliance. The panel will be moderated by Dr. Hubert Danso of Africa Investor.

The forum follows the release of a Call on Policymakers to facilitate the scaling of blended finance structures to fund climate solutions if the world is to achieve both the Paris climate goals and the UN Sustainable Development Goals (SDGs). Signed by UN Special Envoy for Climate Action and Finance Mark Carney and UN High-Level Climate Action Champion, Nigel Topping and supported by the Sustainable Markets Initiative and the Investor Leadership Network – the Alliance said blended finance structures would go a long way to mobilising the flow of climate capital towards emerging markets and developing economies (EMDEs).

The potential of multilateral development banks (MDBs) and development finance institutions (DFIs) in mobilising private capital through blended finance is significant, given their experience and expertise, especially in EMDEs, coupled with their higher risk tolerance and their official development mandates.

The Alliance aims to contribute to the implementation of the highlighted solutions by collaborating with Convergence and by establishing a dialogue with the members of the Coalition of Finance Ministers for Climate Action. Massive mobilisation of capital into EMDEs will only be achieved if donors, development banks, and private-sector financiers all cooperate to bring about systemic change in how private capital is deployed in climate and SDGs finance.

Register for Scaling Blended Finance for Climate Solution Investment in Emerging Markets (5 Oct 2022 at 16.00 CEST) here.

About the Net-Zero Asset Owner Alliance

The 74 members of the UN-convened Net-Zero Asset Owner Alliance have committed i) to transitioning their investment portfolios to net-zero GHG emissions by 2050 consistent with a maximum temperature rise of 1.5°C above pre-industrial levels; ii) to establishing intermediate targets every five years, and iii) to regularly reporting on progress. The Alliance is convened by UNEP’s Finance Initiative and the Principles for Responsible Investment (PRI). The Alliance is supported by WWF and Global Optimism, an initiative led by Christiana Figueres, former Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC).

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Contact information

Oliver Wagg
UN Net-Zero Asset Owner Alliance
+44 7885 377264
oliver.wagg@un.org

Christiane Hach
Allianz SE
+49 152 09096029
christiane.hach@allianz.com

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