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Add to Calendar 21/07/2016 09:15 21/07/2016 18:30 Africa/Casablanca Unlocking Capital Markets in the South for Climate Transition: Constructing Concrete Innovative Solutions OCP Policy Center, Rabat *By invitation only* The COP 22 Scientific Committee is organizing a workshop on Climate Finance, in light of the COP 22 taking place in Marrakech next November. This will allow for a deeper understanding of the role that Climate Finance can play in assisting economies transition into low carbon economies. Stabilizing the global climate has become one of... OCP Policy Center, Rabat OCP Policy Center contact@ocppc.ma false DD/MM/YYYY
Thursday, July 21, 2016 - 09:15 to 18:30

Unlocking Capital Markets in the South for Climate Transition: Constructing Concrete Innovative Solutions

OCP Policy Center, Rabat

By invitation only

The COP 22 Scientific Committee is organizing a workshop on Climate Finance, in light of the COP 22 taking place in Marrakech next November. This will allow for a deeper understanding of the role that Climate Finance can play in assisting economies transition into low carbon economies. Stabilizing the global climate has become one of the most urgent challenges and alleviating climate change is today an international priority. However, it requires a cross-disciplinary approach taking into consideration science, economics, society, politics, as well as moral and ethical dimensions.

Indeed, Climate Finance is becoming one of the key solutions to alleviate climate change, as major financial investments are required to transition the world’s economy to a low-carbon path, reduce greenhouse gas concentration to safe levels, and build the resilience of vulnerable countries to climate change. Climate finance refers to local, national or transnational financing, which may be drawn from public, private and alternative sources of financing. Climate finance is equally important for adaptation, for which significant financial resources will be similarly required to allow countries to adapt to the adverse effects and reduce the impacts of climate change. The financial sector can therefore play a crucial role helping economies decarbonize, and facilitate the transition into low-carbon activities.

Today’s there needs to be a revaluation of financial systems that will lead to a realignment behind the needs for climate change and a transformative sustainable agenda, and ensure that public expenditure is best used to leverage this transformation in finance into a green space. This should happen through real economy regulation and pricing, mobilizing public spending, and significant transformative action within the financial system. It is to be noted that the sustainable finance program is not only intended to increase financing but also improve the resilience and competitiveness of financial institutions, representing new business opportunities for many. 

Agenda

 

Thursday July 21st 2016

Meeting Venue: Conference Room at OCP Policy Center, Rabat

09:00 – 09:30

Opening Remarks

- Nizar Baraka, President, COP 22 Scientific Committee
- Karim El Aynaoui, OCP Policy Center
- Hamid Tawfiki, CDG Capital
09:30 – 10:50

PANEL I: CLIMATE FINANCE: WHERE DO WE STAND?

The aim of this panel is to take stock of the current situation, in order to better understand the existing opportunities tied to climate finance and to transitioning into a green economy. Though Climate Finance is progressively being established as a major component of the climate change solution (providing new opportunities for investment that create stronger, resilient communities, job opportunities and healthier citizens), the current investment level is not enough. Global Climate Finance flows fall short of the estimated US $700 billion to US 1 trillion per year that is estimated to be needed. Why is this so, and what can be done to channel more investments into greener activities?

CHAIR
Jane Wilkinson, Climate Policy Initiative

SPEAKERS
- Mustapha Bakkoury, Moroccan Agency for Solar Energy
- Etienne Espagne, Centre d’Etudes Prospectives et d’Informations Internationales
- Richard Klein, Stockholm Environment Institute
- Benoit Leguet, I4CE  
10:50 – 11:20

Coffee Break
11:20 – 12:40

PANEL II: WHAT PARTNERSHIP TO FOSTER GREEN CLIMATE FINANCE IN THE SOUTH

This panel will highlight the need for collaboration, cooperation, and partnership between the North and South in jointly establishing the rules and regulations required for climate finance to flourish, especially in the South. Developed countries have made a commitment to provide US $100 billion a year by 2020 for climate change activities in developing countries, of which the Green Climate Fund. Though this is important, it is not sufficient. Therefore this panel will be looking beyond financial contributions, and focus on the ways in which the North should assist the South in developing its own Capital Markets to secure the financing needed for the green transition.

CHAIR
(TBD)
        
SPEAKERS
- Bachir Baddou, Fédération Marocaine des Sociétés d’Assurances
- Mamadou Mbaye, Fonds Souverain d’Investissement Stratégique
- Nick Robins, United Nations Environment Programme
- Jane Wilkinson, Climate Policy Initiative
14:10 – 14:30

Keynote Speech
14:30 – 15:50

Panel III: WHAT INSTRUMENTS, TOOLS AND MECHANISMS ARE NEEDED TO UNLOCK TRANSACTIONS? THE REGULATORS’ PERSPECTIVE
    
Both the public and private sectors have ever-growing and fundamental roles to play in triggering “climate-smart” investments such as efficient, clean infrastructure, clean energy, and resilient agriculture and water resources. In order to facilitate the transition, there needs to be a combination of supportive government policies, technological improvements that lead to cost reductions, as well as innovative finance and business models. Financial regulators are also brought to play an extremely important role, as they identify the barriers that financial regulation can present for climate finance. The point of view of regulators with regards to instruments, tools and mechanisms needed to unlock the potential of climate finance will be exposed during this panel.

CHAIR
Nezha Hayat, Autorité des marchés de capitaux

SPEAKERS
- Sunil Benimadhu, Stock Exchange of Mauritius
- Karim Hajji, Bourse de Casablanca
- Didier Loukakou, Commission de Surveillance du Marché Financier de l’Afrique
- Medhat Nafei, The Egyptian Exchange
15:50 – 16:10

Coffee Break
16:10 – 17:30

PANEL IV: WHAT INSTRUMENTS, TOOLS AND MECHANISMS ARE NEEDED TO UNLOCK TRANSACTIONS? THE ACTORS’ PERSPECTIVE
    
A plethora of actors are involved in ensuring the transition into a low carbon economy, namely public finance providers, government policymakers, private finance providers, and financial regulators. There needs to be a synergy between the various different actors and stakeholders to work towards “climate-smart” investments. More leadership is however needed to address the challenges and unlock investment opportunities. The public and private sectors are to work together in more proactive ways if we are to scale up climate finance solutions in time.The point of view of actors with regards to instruments, tools and mechanisms needed to unlock the potential of climate finance will be exposed during this panel.


CHAIR
Hamid Tawfiki, CDG Capital

SPEAKERS    
- Riccardo Ambrosini, International Finance Corporation    
- Anouar Benazzouz, Directeur général des Autoroutes du Maroc
- Akinchan Jain, World Bank
- Frédéric Samama, The Sovereign Wealth Fund Research Initiative
- Martjin Wilder AM, Baker & McKenzie
17:30 – 18:00

Closing Remarks
Nizar Baraka, President, COP 22 Scientific Committee
 

 

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