【COP29 Side-Event】IDFC High Level Event
Day：2024.12.17
event ｜
Person in charge
| identity | belong to | title |
|---|---|---|
| Ryosuke Takahashi | Operations Strategy Department | Assistant Director |
Overview
Date: 2024/11/13
Sponsors: International Development Finance Club (IDFC)
Location (Name of Pavilion)：IDFC Pavilion
Speaker
| identity | belong to | title |
|---|---|---|
| Dr. Megumi MUTO | JICA | Special Advisor to JICA President |
| Mr Javier DIAZ | Bancoldex(Banco de Comercio Exterior de Colombia S.A. ) | President |
| Mr. Serge EKUE | BOAD (West African Development Bank) | President |
| Mr. Rémy RIOUX | AFD (Agence Française de Développement) | CEO |
| Mr. Stefan WINTELS | KfW(Kreditanstalt für Wiederaufbau) | CEO |
| Mr. Paolo Lombardo | Cassa Depositi e Prestiti (CDP) | Head of the International Cooperation and Development Finance Department |
Primary objectives and outcomes
Taking advantage of the opportunity of COP29, high-level officers from each organization gathered to share their organizations' recent climate actions.
Content of the discussions
- Mr. Ekue, President of BOAD, stated that BOAD is targetting 25% of climate finance out of the total commitment, and that it has already reached 40%. He said that they are monitoring the portfolio and greening the energy sector.
- Mr. Diaz, President of Bancoldex, shared that the bank obtained an ESG rating and has been accreditated by Green Climate Fund (CCF). He also introduced that environmental and social considerations have been strengthened through knowledge sharing with KfW and the Inter-American Development Bank. He also mentioned that the bank is aiming to make 10% of its portfolio green and is promoting solar power generation projects for small and medium-sized enterprises. He also mentioned innovative financing such as debt-for-nature swaps.
- Dr. Muto, Special Advisor to JICA President, introduced that JICA is aiming to implement all new projects in a manner aligned with the goals of the Paris Agreement based on JICA Sustainability Policy and that greenhouse gas emissions are being estimated.
- Mr. Wintels, CEO of KfW, introduced that 320 billion euros of climate finance has been approved in Germany and abroad since 2017. He expressed the view that public funds alone cannot address climate change, and that it is necessary to promote measures such as blended finance.
- Mr. Lombardo, Head of the International Cooperation and Development Finance Department of CDP, stated that they formulate projects after considering the SDGs and climate change. He also emphasized the importance of supporting adaptation in addition to mitigation, which is their traditional strength. Finally, he shared that CDP acquired BOAD's hybrid bonds and supported BOAD's climate finance.
- Mr. RIOUX, CEO of AFD, introduced that they aim to target 50% of climate finance out of their total commitment, and emphasized that adaptation is also important. They also stated that they are working to align all their projects with the Paris Agreement. They also stated that they are promoting the incorporation of biodiversity into projects. They stated that they are supporting the Just Transition in South Africa as a measure against climate change and social support. They also introduced the case of issuing sustainable bonds.
Group photo
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