UNEP Finance Initiative at COP26: Watch the events you missed

31 October - 12 November 2021 | Hybrid

Unsplash/Adam Marikar

 UNEP FI’s work at COP focused on progressing the climate finance agenda through the three net-zero alliances which it convenes:

If you missed any of the events, listen to the recordings below to find out more about the climate commitments that have been made by UNEP FI members. Europe-based financial institutions will be interested in listening to the recordings of our Regional Roundtable for Europe which took place alongside COP and there was a great COP side event on financing a sustainable blue economy with Peter Thomson, UN Secretary General’s Special Envoy for the Ocean. Watch all these recordings and find more below! 

 


Briefing Ahead of UNFCCC COP26 in Glasgow: Update on Preparations for the UN Climate Change Conference

The Permanent Mission of the United Kingdom hosted a briefing, in partnership with the Geneva Environment Network, on the opportunities and challenges of addressing climate change ahead COP26. Speakers from various facets of the climate agenda have layed out what to expect from the conference and shared insights on the political dynamics, negotiations, and how to take forward the progress to be made in Glasgow to the implementing arm of international climate action in Geneva. Watch the recording.

UNEP FI Regional Roundtable Europe 2021

UNEP FI hosted its Regional Roundtable on Sustainable Finance for Europe as a virtual event on 10-11 November 2021, alongside COP26. The virtual event defined the role of banking, insurance and investment in shaping ambitious responsible and sustainable strategies to proactively address the challenges and opportunities of a green recovery whilst transitioning to a low-carbon, inclusive and sustainable future in Europe.

The event will feature 40+ speakers including Werner Hoyer, President, European Investment Bank (EIB), Günther Thallinger, Member of the Board of Management, Allianz and Chair of the Net Zero Asset Owner Alliance, Tracey McDermott, Group Head Conduct, Financial Crime and Compliance, Standard Chartered and Chair of the Net Zero Banking Alliance, Renaud Guidée, Group Chief Risk Officer, AXA and Chair of the Net Zero Insurance Alliance, Helena Viñes Fiestas, Commissioner of the Spanish Financial Markets Authority and Rapporteur of the EU Platform on Sustainable Finance. Watch the recordings here.

 

Net-Zero & Climate Finance

Net-zero future: credible ambition and pioneering solutions

Bloomberg Philanthropies, the Principles for Responsible Investors and UNEP FI held on 20 October a virtual global roundtable on high-ambition climate action featuring net-zero finance pioneers. Speakers included Michael Bloomberg, UN Special Envoy for Climate Ambition and Solutions, Günther Thallinger, Chair of the UN-convened Net-Zero Asset Owner Alliance, Oliver Baete, CEO of Allianz, Selwin Hart,UN Assistant Secretary-General on Climate Action, Hiro Mizuno, UN Special Envoy on Innovative Finance and Sustainable Investments, Francesco Starace, CEO of Enel, and Hiroshi Shimizu. President of Nippon Life Insurance Co. Watch the recording.

Leading the 1.5° Journey: Aligning the Banking Sector

Presented by the NZBA, this event explored the climate leadership role of the banking sector and defined key priorities for banks as they adjust their business models, develop and implement credible net-zero transition plans, and communicate with clients and stakeholders. Speakers identified the near-term critical actions for banks and other stakeholders in order to redirect the recalcitrant trajectory of the global emissions curve to a downward path. Generously supported by Santander. Watch the recording or read the event’s summary.

Net Zero Finance Roundtable – Driving Net-Zero Finance Integrity

In partnership with Climate Policy Initiative (CPI) and the 2 Degree Investing Initiative, UNEP FI hosted a COP26 side event which brought together leading experts in the net-zero finance space to discuss what is needed to align all finance flows and portfolios with the Paris Agreement goals, including how to strengthen net-zero commitments to avoid “greenwashing”; and addressing data gaps.

Speakers included Pierre Ducret, Special Advisor for Climate Change & COP21 at Caisse des Dépôts Group, Guido Fürer, Swiss Re CIO and member of the UN-convened Net-Zero Asset Owner Steering Group, Tracey McDermott Chair, UN-convened Net-Zero Banking Alliance and Group Head, Corporate Affairs, Brand & Marketing at Standard Chartered, Eric Usher, UNEP FI Head, and Chris Hurst, Director General, EIB. Watch the recording or read the event’s summary.

Global Climate Action and the Marrakech Partnership: Financing a resilient net zero future

This high-level hybrid event at COP26 looked at how to finance a resilient net zero future. Speakers included among others Inger Andersen, UNEP Executive Director, Mark Carney, UN Special Envoy for Climate Action and Finance, and Günther Thallinger, Chair of Net-Zero Asset Owner Alliance. Watch the recording.

The Investor Agenda: Accelerating global investor actions for a net-zero emissions economy

A record number of investors are setting net zero goals, developing climate action plans, engaging companies on transition planning and calling on policymakers to deliver robust policies in line with 1.5°C. Investors representing around 50% of global AUM have signed the Global Investor Statement to Governments. At COP26, the Investor Agenda held an hybrid event to accelerate global investor actions for a net-zero emissions economy. Watch the recording.

PSI COP26 Sustainable Insurance Series

During COP26, the UNEP FI’s Principles for Sustainable Insurance Initiative took part and hosted a series of virtual events featuring the Net-Zero Insurance Alliance it convenes and addressing how insurers can decarbonise their underwriting portfolios. Find the recordings here.

WWF: How can courageous companies and investors lead in the fight against climate change?

This hybrid event at COP26 regrouped business leaders and financial institutions who shared their journey to deliver on ambitious climate commitments and discussed what they expect to see as the outcome of the COP. Watch the recording.

FinResp and the British Embassy in Madrid: From ambition to action

UNEP FI, FC4S and Spanish financial representatives gathered on COP26 Finance day to discuss the role of public and private finance in achieving the Paris Agreement goals. Watch the recording.

 

Emerging Markets

Perspectives on Banks’ Role in Emerging Markets Decarbonisation

This event, presented by the NZBA in partnership with the European Investment Bank, explored the particular challenges and opportunities for upscaling investment for climate mitigation in emerging markets and developing countries and how these may be overcome through private sector leadership and public-private collaboration. Watch the recording.

Climate risk regulation in Africa’s financial sector and related private sector initiatives

Launch of the flagship report “Climate risk regulation in Africa’s financial sector and related private sector initiatives”. This report was commissioned by the AfDB/AFAC in partnership with the GCA and UNEP FI. The report highlights the state of climate risk regulation in Africa’s financial sector and presents an analysis of the financial stability architecture and climate risk initiatives in 12 selected deep-dive countries. Watch the recording (Wed 10.11).

 

Nature

Funding the Sustainable Blue Economy

This session focussed on how we can mobilise both public and private financial flows from banks, insurers and investors, towards a sustainable ocean industry that offers immense potential for climate change mitigation and adaptation, using key frameworks and initiatives, including the Sustainable Blue Economy Finance Principles – to rebuild, renew and replenish the ocean – for people and planet.

Speakers included Peter Thomson, UN Secretary General’s Special Envoy for the Ocean, Dennis Fritsch, Sustainable Blue Finance lead, UNEP FI, Gabriella Kossmann, Senior Adviser, Norwegian Agency for Development Cooperation, Justin Mundy, Chairman, SLM Partners, Piera Tortora, Coordinator of Sustainable Ocean for All Initiative, OECD, Chip Cunliffe, Biodiversity Director, AXA XL, and Louise Heaps, Head of Sustainable Blue Economy, WWF. Watch the recording.

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