The 27th Conference of the Parties to the United Nations Framework Convention on Climate Change – COP27 – brought together heads of state, ministers and negotiators, along with climate activists, mayors, civil society representatives and CEOs in November 2022 in Sharm El-Sheikh, Egypt, for the largest annual gathering on climate action.

COP27 built on the outcomes of COP26 to deliver action on an array of issues critical to tackling the climate emergency and deliver on the objectives of the Paris Climate Agreement – from urgently reducing greenhouse gas emissions, building resilience and adapting to the inevitable impacts of climate change, to delivering on the commitments to finance climate action in developing countries.

UNEP FI was present at COP27, bringing to the attention of policymakers the steps members have taken in implementing their commitments as signatories to the industry frameworks, the Principles for Responsible Banking and the Principles for Sustainable Insurance, as well as the trailblazing work of the members of the UN-convened Net-Zero Alliances. As the focus at this year’s conference moved to adaptation to climate change, UNEP FI also highlighted the role of private finance in building societal resilience to physical climate change impacts and showcased work being done across the climate adaptation finance landscape.

Read our summary of the outcomes of COP27 and get access to recordings of the events in the list below.

For more information on official COP27 announcements, accreditation, and official events, please visit the UNFCCC or the COP27 websites. All blue zone side events were livestreamed on the UNFCC YouTube channel and are available for on-demand watching.

Ahead of COP27, UNEP launched the Emissions Gap report and the Adaptation Gap report to form a discussion around the urgency to cut emissions and adapt to climate change. Download the reports to find out the finance sector can help close the emissions and adaptation gaps.

UNEP FI event

16 November 2022 | Accelerating to Net Zero in the New Energy Paradigm

The World Economic Forum (WEF), The International Energy Agency (IEA) and UNEP FI are co-organising this high-level event, bringing leaders from public and private sectors together to discuss opportunities to unlock accelerated progress for net-zero transformation in both hard-to-abate industries and emerging economies. Watch the recording.

Events featuring UNEP FI and its members

8 November 2022 | High-Level Expert Group (HLEG) on the Net-Zero Emissions Commitments of Non-State Entities

This event saw the public launch of the Recommendations prepared by the High-Level Expert Group (HLEG) on the Net-Zero Emissions Commitments of Non-State Entities. Chaired by the UN Secretary-General, the Chair of the Group, Ms. McKenna along with all its members, presented and discussed the main recommendations.

8 November 2022 | COP27 African NDC Investment Summit & Awards

The summit showcased NDC projects, initiatives, investment strategies, as well as energy projects and M&A opportunities to inspire speedy implementation and greater ambition across all NDCs. The Summit was chaired by Dr. Hubert Danso, Chairman of Africa investor Group and the Chair of the NDC Awards Adjudication panel, and featured 3 different panel discussions.

8 November 2022 | Fire-side chat: Decarbonising residential real estate around the world

In this fireside chat, thought leaders from the banking industry shared experiences and thoughts on the decarbonisation of residential real estate around the world. Watch the recording.

9 November 2022 | Financing a sustainable and just food system transition: How leading financial institutions and value chain actors set concrete targets & take action

The Just Rural Transition (JRT) and the Good Food Finance Network (GFFN) held a joint event at COP27, highlighting the role of public and private financial institutions in raising the level of ambition in finance for sustainable and equitable food systems and discussing how finance, farmers, businesses, and policymakers can best work together to meet sustainability goals. Through a moderated panel, members of GFFN’s High Ambition Group presented specific and time-bound targets across material impact areas and geographies, laying the ground for a discussion with farmers and community representatives on implementation and demonstrated action. Stakeholders from the audience were invited to engage with panelists to explore how the announced actions can most effectively drive a just rural transition.

9 November 2022 | Financial Protection of Micro, Small and Medium Sized Enterprises  – Accelerating Solutions for Climate Vulnerable Economies

Micro, Small and Medium Sized Enterprises (MSMEs) are an engine of growth and prosperity. Intensifying climate change and the lack of insurance market coverage in many developing and emerging economies are a great concern for MSMEs. This event discussed challenges and financial protection solutions for MSMEs in climate vulnerable economies, including the work of the V20 Sustainable Insurance Facility supported by the UNEP FI Principles for Sustainable Insurance. Find out more.

9 November 2022 | Marrakech Partnership Finance Action Event

From Ambition to Action: Mobilising Finance for Climate Solutions and Resilience: A series of moderated panels and speeches to communicate cross-cutting action needed to meet climate commitments. Organised by UNFCCC Global Climate Action, it took an honest stocktake of progress made since COP26, and spotlighted actors driving real action. Including members of the UNEP FI net-zero alliances.

9 November 2022 | Regional perspectives: Net Zero Banking Alliance

In this panel, two Net-Zero Banking Alliance members from the Middle East and North African (MENA) region discussed their journeys and experiences since joining the Alliance. We discussed regional considerations on the net-zero journey, as well as how we can encourage more banks in the region to join the Alliance. Watch the recording.

9 November 2022 | Blue Finance – Unlocking the Potential of the Blue Economy

This event highlighted the importance of the Blue Economy as part of the global climate response, emphasizing the importance of the private sector to mobilize the blue finance needed to safeguard our access to clean water and protect underwater environments. The panel provided practical insights on this emerging asset class based on recent market transactions. Find out more.

9 November 2022 | Finance in Common initiative: Public Development Banks gearing up for a green and just transition for a sustainable recovery

Public Development Banks (PDBs) already play a crucial role in mobilizing green finance. This side event provided a great opportunity for PDBs united behind Finance in Common initiative to report on progress made since COP26, Glasgow and share their renewed ambition to align with SDGs, climate and biodiversity agendas.

9 November 2022 | Driving Accountability on the Net-zero Commitments: Targets, Transition Planning and Data

This high-level event explained the importance of operationalizing net-zero pledges, presenting the work of the Glasgow Financial Alliance for Net Zero (GFANZ) members to drive emissions reduction across the global economy. The second part of the session focused on how to mobilize capital to the energy transitions of emerging markets and developing economies.

9 November 2022 | Leveraging African insurance industry to create resilient African economies

At this event, the Climate Change High-Level Champions, FSD Africa, African Risk Capacity Group, ICEA LION Group, NamibRe and UNEP FI discussed the risks, challenges and opportunities facing Africa’s insurance industry in mitigating climate change. Watch the recording.

9 November 2022 | Islamic finance panel session

The event provided a background on the challenges and opportunities in scaling up Islamic finance for climate action in the MENA region, including the latest news from the UNEP FI-CIBAFI-IsDB initiative to map and understand current practices, challenges and potential opportunities within Islamic banking on climate action. Watch the recording.

10 November 2022 | Climate action: A vision from central, multilateral and commercial banking

It is estimated that transitioning to a carbon-neutral and resilient world will cost around $9 trillion annually by 2050. Channeling funds into activities that catalyze transformation in Latin America and the Caribbean is critical for the region to achieve its sustainable development goals. This event brought together financial actors, including central, public and private banks, as well as multilateral agencies and regulators to discuss the opportunities and challenges faced by financial institutions in leveraging projects that contribute to climate change adaptation.

10 November 2022 | The Investor Agenda: supporting investors to implement net-zero commitments

A record number of investors are setting net-zero goals. Senior representatives of the Investor Agenda alongside asset owners, asset managers, and investor networks at the 27th United Nations Climate Change Conference (COP27) explored how Investor Climate Action Plans (ICAPs), engaging companies on transition planning, and enabling policy frameworks in line with 1.5°C can help make net zero investment portfolios a reality. Co-hosted by Asia Investor Group on Climate Change (AIGCC), CDP, Ceres, Investor Group on Climate Change (IGCC), Institutional Investors Group on Climate Change (IIGCC), the Principles for Responsible Investing (PRI) and the United Nations Environment Programme Finance Initiative (UNEP FI). Find out more.

11 November 2022 | The business case for climate action by banks in developing countries

This event focused on the business case for climate action. We explored the business opportunities for the banking sector associated with investing in climate adaptation and mitigation projects, with a specific focus on banks in developing countries. As these banks encounter specific needs and challenges, we shared examples of barriers to joining the Net-Zero Banking Alliance, as well as the opportunities presented by the Alliance. Watch the recording.

12 November 2022 | High-level seminar “Adaptation – business opportunities and responsibilities

In recent years the world has witnessed the impacts of climate change rapidly intensifying with more severe, frequent and unpredictable extreme weather events, and a rising sea level that threatens communities and countries all over the world. The private sector have in many ways taken a leading role in the establishment of mitigatory efforts, but a similar business-led movement on adaptation still needs to be developed. In this open seminar several high level global key decision makers, companies and organisations discussed the subject matter, while contributing and sharing their view points and experiences. Find out more.

14 November 2022 | Catalysing Ambition Loops – How to scale up technology, policy & investments to create bolder pathways for change

To meet the emissions reduction targets by 2030 and limit global warming to well below 2°C, we need actors across public and private sectors to go further and faster in accelerating climate action. Which technologies pave the way to a climate-resilient future? What policy frameworks and incentives are most effective to address the climate challenge, and how do we channel investments into climate change solutions? Join the discussion on what matters to create pathways for change as we look forward to an exciting COP28 in Abu Dhabi. Find out more.

14 November 2022 | The Evolving Investment Landscape for Renewable Energy in Africa: Challenges and opportunities based on experience on the ground

The investment landscape for renewable energy in Africa is continuously evolving as new business models are emerging. This is an exciting moment for the investment community as financing structures need to be adapted. Based on their experience, panellists discussed the current challenges and opportunities facing the sector. Find out more.

17 November 2022 | Financing Innovative Approaches to Protect Against Losses & Damages in Climate Vulnerable Countries

Support for climate and disaster risk management and financing instruments are needed by governments, businesses, and individuals to help them prepare for climate change and recover from extreme weather events. This event showcases instruments to minimize and address loss and damage.

17 November 2022 | Launch of Circular Finance Roadmap for International Financial Institutions

The session starts with an opening word from Circle Economy’s CEO, Martijn Lopes Cardozo. It is followed by Marvin Nusseck of Circle Economy, Strategist & Project Lead, who elaborates on the IFI Circularity Exchange of the past months and present the high-level roadmap that resulted from it. The panel discussion is opened and moderated by Circle Economy’s CEO, Martijn Lopes Cardozo, who helps illuminate the perspectives of representatives of the international financial institutions and private financial sector. The closing remarks are held by the Minister of Environment of the Government of the Netherlands, Vivianne Heijnen who supports this project. Watch the recording.

17 November 2022 | Launch of the California Sustainable Insurance Roadmap

This event formally launches the California Sustainable Insurance Roadmap, the result of an over 3 year partnership between the California Department of Insurance and the UNEP FI Principles for Sustainable Insurance. The roadmap aims to reduce greenhouse gas emissions in economy, close protection gaps for vulnerable communities, keep insurance available and affordable, and protect communities from climate threats. Watch the recording.