Development and climate finance are increasingly interlinked in the international agenda in order to scale up and improve our approaches to rising climate risks and their implications on sustainable development objectives. The Summit for a New Global Financial Pact in Paris on 22-23 June 2023, the international financial architecture and MDBs reform agenda and the forthcoming COP28 are illustrations of the increased international and European attention to the development-climate finance nexus. While climate mitigation should remain a key goal, adaptation and resilience to increasing climate risks has become a priority for many developing countries.
Yet, financial institutions, including those with a development mandate, do not yet pay sufficient attention to assessing climate risks and incorporate these in their strategies and operations. While the EU Adaptation Strategy paves the way for the more dedicated approach, within and outside the EU, the adaptation efforts remain too limited and fragmented.
Focusing on the international dimension, the aim of this workshop is two-fold:
- address how financial institutions, and development finance institutions in particular, can better assess and integrate climate risks in their risk strategies and methodologies, building on the presentation of science-based models and tools.
- identify how European development finance institutes (DFIs) and multilateral development banks (MDBs) can more effectively scale up adaptation and resilience finance. Particular attention will be given to complementarities and synergies between development cooperation and development finance actors, bridging the gap between the public sector, MDBs, DFIs and private sector.
This event is targeted at representatives of key DGs, EIB, EBRD, World Bank, OECD, European Stability Mechanism (ESM), IMF Climate & Development Unit, among others.
For more information or to register:
Hanne Knaepen – hk@ecdpm.org
