REGIONAL OFFICE FOR ASIA AND THE PACIFIC (OAP)

With the world facing one of the greatest crises in over a century, how should we turn around our financial system for a more sustainable and greener planet? As part of the SDG Global Festival of Action from Japan held 25-26 March, the UNDP and the IMF jointly hosted the panel discussion “Financing for Climate Action” where experts from both the public and private sectors discussed green financing to help mitigate climate change and achieve a sustainable future.

• When: March 25, 2021    19:30-20:15 JST
• Venue: online
• Language: English with Japanese interpretation
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• Summary: The session explored how we could turn around our financial system for a more sustainable and greener planet. The three panelists explained why financing for sustainability is important, how financing can contribute to mitigating climate change, and what we could do to support financing for climate action.
  
  During the discussion, the panelists agreed that it is an opportune time to invest in a green, resilient, and sustainable future, and that mitigating climate change requires massive investment which in turn requires a large amount of financing. They also pointed out a lack of standards to measure the greenness of businesses and financial products and insufficient disclosure of such information as pressing issues for green financing.
  
  Before concluding, the panelists shared some practical ideas of what we could do to enhance financing for climate action, including investment in sustainability-linked bonds that enable businesses to commit to sustainability targets, the strengthening of SDG Impact as a standard to prove businesses’ SDG compliance, and the introduction of carbon pricing. The session ended with a clear message that everyone should play a role in green financing.
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• Speakers: 
• Moderator: Ibun Hirahara, Co-Founder, World Road
• Panelists:
• Jochen M. Schmittmann, Deputy Head, IMF Regional Office for Asia and the Pacific
• Ken Shibusawa, Chief Executive Officer, Shibusawa and Company, Inc., Founder and Chairman, Commons Asset Management
• Trista Bridges, Co-Founder and Principal, Read the Air
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• Session details: Please click here.
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• Background: The SDG Global Festival of Action from Japan is the first spin off event of the global festival, where 12 UN agencies based in Japan come together to host dialog events, panel discussions and workshops on pressing global issues to accelerate actions to achieve all 17 of the SDGs. For more information on the Japan festival, visit here.