In December 2015, the twenty-first session of the Conference of the Parties (COP 21) was organized in Paris with the objective to achieving a legally binding and universal agreement on climate change in order to limit global warming to below 2°C. Achieving this aim and transitioning to a low-carbon, climate resilient and sustainable development pathway will require significant finance and investment, both public and private. There is increasing recognition of the role local financial institutions (LFIs) play in promoting private investments in areas related to green growth, and these institutions will continue to play an important role over the next decades in scaling up climate solutions.
Within this context, the Agence Française de Développement (AFD), the Inter-American Development Bank (IDB) and the Organisation for Economic Co-operation and Development (OECD) organized a one day workshop on LFIs and green finance in Paris, on the 3rd of November 2015. The aim of the workshop was to bring development partners, multilateral agencies and LFIs from different regions together to: a) share experience on scaling up green finance among LFIs; and b) identify opportunities to work together to further share knowledge and experience.
The event focused on innovative instruments and existing experience in green finance, specifically within the context of large scale infrastructure development as well as for economic sectors involving small scale green finance (e.g. for energy efficiency) and Small and Medium Enterprises (SMEs). Interventions covered concrete case studies, with experience shared by field practitioners.
Initial sessions showcased implemented actions, followed by discussions on barriers to scaling up green finance and the need for synergies and collaboration. The final panel discussion defined concrete next steps to sharing knowledge and replicating lessons across regions.
Session I - Financial innovation for sustainable infrastructure projects
Session II - Financial innovation for energy efficiency and SMEs
The speakers for this session, Jorge Lanz Obeso of Nacional Financiera, Mexico, Vinicius Vidal, Manager at Banco Nacional De Desenvolvimento Econômico (BNDES), Brazil, Ashwin Foogooa of Mauritius Commercial Bank, Mauritius, and Sophie Leroy, Proparco, presented four examples of interventions by LFIs to support the uptake of renewable energy and green finance for infrastructure.
The speakers for this session, Maria Netto from IDB, Sergiy Khudiyash from the State Export-Import Bank of Ukraine (UKREXIMBANK) and Rekik Akinci from Türkiye Sınai Kalkınma Bankası (TSKB), presented three cases where LFIs have been supporting uptake of energy efficiency interventions by SMEs.
An overview presentation to set the context for the discussion was given by Micha van Waesberghe from IDB, and outlined best practices for knowledge sharing. The following panel discussion included Refik Akinci from TSKB, Barbara Schnell from KfW Development Bank, Jose Juan Gomes Lorenzo, IDB, and Mustapha Kleiche, AFD.
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