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COP28IDFC DEC5 – Wrap up

5 December 2023

New day, new agenda on #COP28IDFC Pavilion.

Find below the topics tackled today and a summary for each, 4 events on #PDBs, #SouthAsia, #energytransition, #sustainability, #climatefinance 

Watch the replay here:


9AM Paris Agreement alignment: how can PDBs best respond its expectations

PDBs and MDBs gathered to discuss approaches on Paris Agreement Alignment and future role and place of Climate finance in this context.

The discussions pointed out:

  • The fundamental importance of country low carbon and resilient development  pathways -based approaches given i) the development mandate of PDBs and their position vis à vis Paris Agreement parties  ii) the “contribution to structural effects” ambitions beyond own impacts and beyond mere consistency of finance flows
  • The importance of support to policies, technical assistance, local financial actors for structuring re-direction objectives entailed by  Art. 2.1c
  • The importance of looking at added value of Climate finance in terms of transformational potential
  • The  interest at project level but also limitations when aggregated of direct-impact quantitative approaches


Below you can find some key points from 3 panelists:

Alexis Bonnel from Agence Française de Developpement

IDFC contributions et key role:

  • Largest provider of public development and climate finance globally
  • Committed promoter of climate mainstreaming within financial institutions and the alignment of finance with the Paris Agreement
  • Trusted group of development bank practicioners

Paper out: Contribution ot the UNFCCC post-2025 climate finance dialogues

IDFC’s 10+ year journey of integrating climate:

  • Climate finance volumes: projects with climate co-benefits / tracking -> doing good things
  • Climate mainstreaming: portfolios, strategies, integration at institutional level -> doing things right
  • Climate alignment: contributing to financial systems’ reorientation -> doing the right things

Hervé Breton, Facility 2050 coordinator, AFD

Until 2017, AFD climate action was ambitious but very much focused on providing climate finance and looking at GHG impacts of its financed projects.

With the Paris Agreement, it became clear that it could not content themselves with just that, it needed to make sure that all financing work on country transitions contributes to the redirection to financial flows beyond AFD’s own flows

There is a need to strengthen that and came up with 3 pillars for the climate strategy to make sure all financing consistent: provision of climate finance and trying to contribute to the redirection of flows beyond

We also need to know about what the transition means and support countries in the elaboration of LTSs

Dimitri Gvindadze, Director Climate Strategy & Regional Delivery, EBRD

The importance is to engage with the big sponsors in the region and try to finance PDBs and distribute.

When it comes to adaptation, it’s difficult to source commercially viable adaptation projects

BB3 , EBRD provides 6 billion of climate finance and mobilise more.

Last year they launched the Nexus NWAFE in Egypt to get to wind, solar, and other renewable capacity.

Mariem Dkhil, Director Green Transition, Crédit Agricole du Maroc

Objective: take the climate finance where it is available to channel it to the final beneficaries

Need to avoid too much criteria that are not feasible on the field

Sometimes DFIs put too much criteria that make it difficult to find projects

We know climate finance is there but sometimes difficult to access it

Technical assistance needed for the banks but also for the final beneficiaries

Need to have concessional rates because when you have several intermediaires the final client will pay a high cost


11 AM Innovative Financing Mechanisms to Accelerate Energy Transition in Southeast Asia: Key Financiers and their Roles

1:30 PM “Shaping Climate Transformation of Instrumental Infrastructure and Sustainable Private Sector Development”



4PM – Imagining Alternative Futures for Climate Finance – post-2025 and… way beyond

This session invited panelists to imagine alternative, radical systemic evolutions of climate finance.


  • Daniel Kaplan, co-founder, Plurality University Network
  • Nadia Alter, Tim Reutemann, co-founders, Sci-Fi Economics Lab, ClimateGains
  • Beatriz Vaca, Chief Operating Officer, Microrisk
  • Modupe Famakinwa, Vice President, Corporate Funding, Africa Finance Corporation (AFC)
  • Alexander Atarodi, Forum on Foresight for Sustainable Finance, Team Lead foresight, OECD/DCD

Moderator: Alexis Bonnel, Strategy & Foresight, AFD

The discussion started with a presentation of the outcomes a recent collective creative foresight exploration about the futures of climate and sustainable finance. The approach helped mobilize resources of imagination to envisage radical, systemic changes and helped raise new, unconventional questions about climate finance and its evolution. What if the focus of Finance should no longer be on investment? What if scale and scaling were a problematic way of looking at sustainable projects? What if the focus on “Impact” was counter-productive? What if catastrophe finance becomes a key driver for systemic transformation?

Finding alternatives to the current economic and financial models is of the essence. The discussion also touched on critical foresight questions from the perspective of the different panelists.


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