Well-designed financial instruments and appropriate public support that together, reduce private investors’ risks and improve their financial returns, could play a central role in global efforts to address the adaptation and mitigation needs of developing countries.
The Global Innovation Lab for Climate Finance is a new, global initiative that draws on expertise from around the world to design and pilot the next generation of cutting edge climate finance instruments. By catalyzing new investment flows through effective public-private partnerships, The Lab will help governments achieve their climate finance goals effectively, support an optimum allocation of public and private finance, and assist developing countries in tackling climate change. The Lab members include leaders from governments, pension funds, investment banks, project developers and development finance institutions.
This COP 20 side event, hosted by the U.S. Department of State in partnership with the UK Department of Energy & Climate Change (DECC), and the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB), shares information about The Lab’s progress and its selected set of instruments. Participants heard from an expert panel on driving climate finance in developing countries at scale, with a Q/A discussion to follow.
Introduction and welcome: Leo Martinez, Deputy Assistant Secretary, U.S. Treasury
Moderator: Barbara Buchner, Senior Director of Climate Policy Initiative, Lab Secretariat
- Karsten Sach, Deputy Director General, Federal Ministry for Environment, Nature Conservation, Building and Nuclear Safety, Germany
- Rasmus Helveg Petersen, Danish Minister for Climate, Energy and Building
- Hans Schulz, Vice President for the Private Sector and Non-Sovereign Guaranteed Operations of the Inter-American Development Bank
- Rachel Kyte, Vice President and Special Envoy for Climate Change, World Bank Group
- Julia Ellis, Policy Advisor, Department for Energy and Climate Change, UK