Sessions

2019 July 12 Friday

Blended Finance: Bridging the Climate Adaptation Investment Gap - Host Country Seminar (Open Event)

Conference de Presse (Salle C), ECCL

Objectives

  • Discuss the main challenges that prevent the expansion of blended finance in the context of climate adaptation
  • Showcase the opportunities that blended finance can represent for climate finance adaptation projects
  • Reflect on conditions that can enable the expansion of blended finance. 

 

Background

Defined by the OECD as “the strategic use of development finance for the mobilization of additional finance towards sustainable development in developing countries”, blended finance is one approach that permits to mobilize and leverage private finance towards climate related investments. By effectively blending public and private financing, the risk-return profile of these investments can be improved, which can thus permit to mobilize additional capital.
 
In an era of limited public resources, blended finance can therefore help redirecting private investments to climate adaptation projects; a necessary prerequisite for the effective implementation of article 9 of the Paris Agreement, according to which scaling-up financial resources in the context of climate change “should aim to achieve a balance between adaptation and mitigation”.
 
This being said, additional work is necessary to measure and track these financial flows as well as to monitor and evaluate the climate action interventions enabled through blended finance. 


Discussion Topics

  • What measures need to be taken in order to reduce transaction costs of climate resilient infrastructure projects?
  • What are the main hurdles in ensuring bankable projects in climate adaptation?
  • How to measure and report blended climate finance?
  • How to identify the risks that climate change can pose at all stages of infrastructure investments?

Session format

  • Opening interview
  • High-level panel discussion
  • Audience Q&A
     

Speakers

Chris Clubb

Managing Director, Convergence Blended Finance

 

Financing executive with 25 years experience in international finance, developing strategies and leading teams to execute private debt and private equity transactions. Originated or approved USD 30+ billion of financing projects in more than 80 countries. Experience at international financial institutions (IFIs), multilateral development banks (MDBs), export credit agencies (ECAs) and global banks. Expertise in infrastructure finance, project finance, structured finance, corporate finance, trade finance and credit risk management. Experience across emerging markets and developed markets; full spectrum from transaction origination, execution and approval to risk management; size from large PPPs to SME finance. Complemented by a Masters Science in Finance and Bachelor of Commerce Honours.


Angela Falconer

Associate Director, Climate Policy Initiative

 

Dr. Angela Falconer is Associate Director in CPI’s climate finance division. She leads the London office, where she oversees the work of a team of analysts, while also supporting cross-cutting strategic projects for the organization. She advises government and investment leaders on climate finance, and brings particular expertise on the land use and agriculture sectors. Since joining she was heavily involved in building CPI’s Indonesia program in its early years, including roles advising the Government of Indonesia on national climate fund design and studies evaluating fiscal policies in the palm oil sector. Similarly, Angela has helped establish GNIplus, a partnership between CPI, Baker McKenzie, and AECOM that is supporting the Government of Kenya in its national climate change strategy.


Pierre Gramegna

Minister of Finance, Ministry of Finance, Luxembourg

 

Pierre Gramegna was born on 22 April 1958 in Esch-sur-Alzette.

 

Following the legislative elections of 14 October 2018, Pierre Gramegna was re-appointed Minister of Finance on 5 December 2018 in the coalition government formed by the Democratic Party (DP), the Luxembourg Socialist Workers’ Party (LSAP) and the Green Party (déi gréng).

 

As Minister of Finance, Pierre has initiated major reforms to balance the budget and to align Luxembourg’s tax rules with international transparency standards. He is a promoter of the diversification of Luxembourg’s financial center, in particular with regard to FinTech and sustainable finance.
As chair of the Ecofin Council of the European Union during the Luxembourg Presidency in 2015, Pierre actively contributed to reaching landmark agreements on the introduction of the automatic exchange of tax rulings with European Union member states, and on securitization.

 

A career diplomat, Pierre joined the Ministry of Foreign Affairs in 1983. In 2003, Pierre Gramegna took up the position of director general of the Chamber of Commerce.

 

Pierre Gramegna pursued studies in law and economics at the Université Panthéon-Assas (Paris II) and completed his post-university education with a postgraduate diploma of advanced studies in European Union law.


Pierre Heilibronn

Vice President Policy and Partnerships, EBRD

Pierre Heilbronn is a member of the EBRD Executive Committee leading on the Bank’s economic, policy and reform agenda, coordination within country strategies and European member states and institutions, managing bilateral and multilateral donor partnerships and ensuring the inclusive engagement of the civil society.Before EBRD, he was deputy chief of staff for France’s Minister of Economy and Finance. He served as the European advisor of the French Prime Minister and acting General Secretary for European Affairs. He assisted in the creation of the European External Action Service and was acting head of Cabinet of the European Commissioner for External Relations and Management of Development Aid.


Werner Hoyer

President, European Investment Bank

 

Werner Hoyer has a PhD (economics) from Cologne University where he also started his career in various positions. Dr Hoyer served for 33 years as a Member of the German Bundestag. During this period, he held the position of Minister of State at the Foreign Office on two separate occasions. In addition, he held several other positions, including that of Whip and FDP Security Policy Spokesman, Deputy Chairman of the German-American Parliamentary Friendship Group, FDP Secretary General and President of the European Liberal Democratic Reform Party (ELDR).

 

Upon appointment by the EU Member States, Dr Hoyer commenced his first term as EIB President in January 2012. His mandate was renewed for a second term commencing on 01 January 2018.

 

Dr Hoyer and his wife Katja have two children.


Jay Koh

Managing Director, The Lightsmith Group

 

Jay L. Koh is Co-Founder & Managing Director of The Lightsmith Group. The Lightsmith Group is the first private equity firm to focus on investing in resilience to climate change. Mr. Koh has over 20 years of experience in private equity and sustainable investment.  Prior to founding Lightsmith in 2016, Mr. Koh held senior investment roles at Siguler Guff, R3 Capital Partners, and The Carlyle Group.  Mr. Koh also served as Head of Investment Funds & Chief Investment Strategist at OPIC, U.S. government’s $20 billion development finance institution. Mr. Koh also chairs GARI and advises GCF. Mr. Koh holds an A.B. magna cum laude in Economics from Harvard, a master's degree in Management from Oxford, and a J.D. from Yale Law School. Mr. Koh clerked for U.S. Supreme Court Justice David Souter.


Vivek Pathak

Regional Director, International Finance Corporation

 

Vivek Pathak has led IFC East Asia and Pacific since 2014. He has extensive emerging markets and industry experience in principle investments,rstructuring and risk management. Since joining IFC, he has held leadership roles in Asia the Middle East, North Africa and the US. He now heads IFC's advisory and investment operations, across 18 countries with $3.5 billion in long-term investments in 2018, including funds mobilized from other investors.

As IFC's Director for Investment and Credit Risk, he was responsible for global credit, investment and integrity risk, pricing and credit/equity training. he has overseen IFC's Middle East and NOrth Africa portolios and led business development in frontier markets.

Mr. Pathak holds a Masters in Management from the University of Mumbai, India.


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Moderator

Martina Fuchs

TV Presenter, CNN Money Switzerland

 

Martina Fuchs is CNNMoney Switzerland TV Anchor in Zurich, and previously worked as Business Reporter for Chinese state broadcaster CGTN (China Global Television Network) in Beijing. Before that, she was Reuters Economy Correspondent for the Gulf Arab region in Dubai and Reuters Financial TV Producer in London.

She holds a Master iInternational Economic History from the University in Geneva, a Postgraduate Diploma in TV Journalism from the American University in Cairo, and a Master of Science in Global Finance (MSGF) from the Hong Kong University of Science and Technology and the New York University Stern Business School. 

She speaks 9 languages, including: German, French, English, Chinese, Arabic, Spanish, Portuguese, Italian and Swahili.