Monday 4 December 2023 | Invite-only dinner
Together with DIW Berlin (lead of our SNAPFI Project) and LSE (Just Transition Finance Lab at The Grantham Research Institute on Climate Change and the Environment), we organised an invite-only dinner at COP28. The dinner provided space for a trusted dialogue with a select group of leaders, experts and influencers to identify priorities for COP28 itself and for renewed action in 2024.
Just Transitions are inherently embedded in local contexts and finance must be connected to the lived realities of people whose lives will be most impacted by climate policy. Just Transitions need to be taken forward in every country and sector of the economy and are essential to the global agenda to accelerate climate action. The real test of the just transition will be in major emerging and developing economies, where investment needs for net zero and climate resilience are greatest while access to and cost of capital can be a challenge and social safeguards tend to be weaker. A just and equitable approach that addresses both climate and development challenges can raise ambition in the Global South by investing in the human and social capacity crucial for advancing net zero and resilience.
Topics for discussion include:
- How can the new Just Transition Work Programme stimulate ambition and real world action in 2024?
- How can the just transition be made central to the transformation of the financial system that COP27 called for?
- How can public and private finance best be combined to deliver inclusive climate investments, particularly in the Global South?
- How can global capital markets (such as the bond market) support just transitions?
- What is the role of finance to ensure fairness and inclusion in key transitions for energy, mining (both coal and critical minerals) as well as agriculture?
- What financial innovations are needed to mobilise investment for locally led climate transitions?