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COP28IDFC DEC6 – Wrap up

6 December 2023

New day, new agenda on the #COP28IDFC Pavilion.

Find below the topics tackled today and a summary of the 4 events on Public Development Banks, South Asia, Africa, green hydrogen, energy transition, cities climate finance and more. 

Watch the replay here:

11AM – Unlocking the Potential of Green Hydrogen in Africa

 

1.30PM – How to accelerate the PDBs engagement ?

4PM – Decarbonizing Southeast Asia: The role of business sector and developing financing institutions in materializing net zero ambitions

This session shed light on the dynamic and rapidly growing Southeast Asia, and invited key speakers from development financing institutions, private sector, banking institution, and government officials from the region to deep dive into in-country efforts currently being made, and collectively discuss the following aspects of implementation.

6PM – PDBs and Cities: a wining partnership for a successful climate transition

Financing the climate transition in cities, which generate around 75% of global greenhouse gas emissions, is key to achieve the Goals of the Paris Agenda. However, cities are faced with a systemic finance gap. National development banks (NDBs) can play a key role to bridge this gap. They are ideally placed to channel domestic and international funding to the local level, acting as a last mile bank. They can de-risk or cover upfront costs, can provide local currency financing instruments, and can leverage locally adapted financial mechanisms.
To do so, they must develop dedicated urban climate strategies and instruments and overcome barriers, among which the lack of capacity of cities to structure bankable projects pipelines, as well as unappropriated institutional frameworks which limit the cities financial autonomy.
This session explored how National Development Banks can respond to cities expectations in deploying technical and financial support for urban climate project preparation and investment.

IDFC Facility NUCA Programme
The overall objective of the programme is to support the development of low-carbon and climate-resilient urban infrastructure. It will contribute specifically by supporting public development banks that are IDFC members, municipalities in their intervention countries, private project sponsors, and the corresponding national authorities to facilitate the emergence and financing of urban projects with climate co-benefits.
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  • Vera Rodenhoff, Deputy Director General International Climate Action: “The program NUCA is a new flagship initiative based on a strategic partnership with AFD and IDFC members as well as the city network C40 to accelerate local climate finance”
  • Edwin Syahruzad, President Director PT SMI: “I am happy to witness the collective commitment we built towards sustainable and resilient to climate cities”
  • Cilliers Brink, Executive Mayor Tswane: “At this crucial junction what is the opportunity to rebuild green and to rebuild in sustainable way to deliver in lower carbon manner”
  • Andrea Fernandez, Managing Director Climate Finance, Knowledge and Partnerships C40 Cities: “capacity building to banks is key”

 

 

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