- The first “Innovate4Climate Finance and Markets Week” will take place at the Palau de Congressos de Barcelona, from May 22 to 25
- For the first time, high-level government representatives and leaders from finance and business will meet to discuss the shape of the next generation of climate finance
- The event has been organized with the support of the governments of Spain and Germany, and with the collaboration of FIRA Barcelona, the World Bank Group, IETA and Climate Action
The remarkable pace at which nations of the world have ratified the Paris Agreement and started to put their national plans, or Nationally Determined Contributions (NDCs), into action provides proof that the international community is committed to tackling and overcoming the daunting challenge of climate change.
These national plans target aggressive growth in climate solutions—including renewable energy, low-carbon cities, energy efficiency, sustainable forest management, and climate-smart agriculture. Together, the NDCs offer a clear roadmap for investments that will target climate-resilient infrastructure and offset higher upfront costs through efficiency gains and fuel savings.
Helping countries transition to a low-carbon and sustainable economy presents an unprecedented investment opportunity. According to the World Bank Group, the NDCs of emerging economies alone represent around $23 trillion in investment potential. Putting these plans into action could help grow the global economy and unlock untapped technological possibilities.
The magnitude of this challenge will require the best global minds on climate finance. That is why the World Bank Group, in partnership with the governments of Spain and Germany, and with the support of FIRA Barcelona, IETA, and Climate Action, has launched the “Innovate4Climate Finance and Markets Week”: a new global dialogue between government, multilateral, business, banking, and finance leaders.
“Making sure these investments are low-carbon and climate-resilient is key to our future”, said John Roome, Senior Director for the World Bank Climate Change Group. “Public sector finance cannot do it alone. We need to find innovative ways to leverage concessional and public finance to mobilize private sector finance for climate action.”
The Conference, which will take place from 22 to 25 May at the Palau de Congressos de Barcelona, is designed to be the premier global platform that brings together public and private sectors on climate financing and investment, new business models for emerging products and technologies, and new financial instruments and markets.
The event, with its innovative structure (a 2-day summit, side events, and the “Marketplace” ) will feature more than 50 international speakers, a full program of parallel events, and an exhibition area where approximately 40 exhibitors from companies in the finance, carbon trading and clean energy sectors, as well as insurance companies, investment funds and NGOs, will showcase the strategies and technologies for driving the fight against climate change.
During the “Marketplace”, participants will be able to innovate, learn and generate future business opportunities. Investment projects and best practices will be presented, with this space becoming the participants’ central networking hub to start and engage in discussions about climate business.
The World Bank Group, in collaboration with its partners, is firmly committed to establishing Innovate4Climate as the place where finance, markets, and technology come together to accelerate climate action and scale up the financing needed to turn the ambitions of the Paris Agreement into reality.