SDG Global Action Festival — Panel Discussion “Financing for Climate Action”
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Media Inquiries
International Monetary Fund
Regional Office for Asia and the Pacific
Press Officer: Yuko Maeda
Tel: 81-(0)3-3597-6719
Email: oapmedia@imf.org
Event overview
- The panel discussion “Financing for Climate Action” was jointly hosted by UNDP and the IMF as part of the SDG Global Festival of Action from Japan.
- When: March 25, 2021 19:30-20:15 JST.
- Venue: online.
- Language: English with Japanese interpretation.
- The Japan festival was 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 to accelerate actions to achieve all 17 of the SDGs.
Major themes and substantive findings
- Financing for sustainability is important to mitigate climate change and achieve a sustainable future.
- Mitigating climate change requires massive investment and therefore a large amount of financing.
- Key obstacles identified for green financing:
- Lack of standards to measure the greenness of businesses and financial products.
- Insufficient disclosure of information about the greenness of businesses and financial products.
- Consensus that the current moment is an opportune time to invest in a green, resilient, and sustainable future.
- Clear message that everyone should play a role in green financing.
Policy ideas and practical measures discussed
- Investment in sustainability-linked bonds that enable businesses to commit to sustainability targets.
- Strengthening of SDG Impact as a standard to demonstrate businesses’ SDG compliance.
- Introduction of carbon pricing.
Speakers and roles
- 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.
Content in this bundle
- Chapter 6 — Sustainable Finance: Looking Farther