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Transforming our Economic Growth paths: Progress on the Transition to Green Growth & the Financing of Change

Monday 21 October 15.15-16.45, the Eigtveds Pakhus, Copenhagen

Moderator: Mr. Yvo de Boer, Director-General, Global Green Growth Institute (GGGI)

Key note:
H.E. Felipe Calderón, Chair of the Global Commission on the Economy and Climate

Sir Suma Chakrabarti, President, European Bank for Reconstruction and Development (EBRD)
Dr. Bindu N. Lohani, Vice-President, Asian Development Bank (ADB)
Mr. Torben Möger Pedersen, CEO, PensionDanmark
Dr. Naoko Ishii, CEO and Chairperson of the Global Environment Facility (GEF)
Dr. Atiur Rahman, Governor, Central Bank of Bangladesh
Mr. Daniel Wiener, President of the Board, Global Infrastructure Basel Foundation

Closing remarks:
H.E. Martin Lidegaard, Danish Minister for Foreign Affairs.

The New Climate Economy report, which was publishedin September 2014, illustrates that countries at all income levels have significant opportunities to improve economic and climate performance.  The report sends a strong, clear signal that the world economy poised to follow a low-carbon direction that would reduce uncertainty for investor, businesses, farmers and consumers and so reduce the transitional costs of change. Taking a long-term approach can reduce investor risks without harming performance.

Finance is moving, although still hesitantly, often led by the world’s policy-guided banks. Institutional investors, stewards of some of the trillions of private dollars, yuan and euro are readying for the shift that lies ahead, as evidenced by the Global Investor Statement.  Still, our ambition has to rise beyond pricing carbon and the smart use of public finance to overcome the bottlenecks currently embedded in financial markets. A blend of national self-interest and collaborative action is required, only this time involving actors from across the financial system, economy and investment value chain.

This session explored collaborative solutions to current bottlenecks and new evidence of progress on the transition to green growth with global financial system actors with a focus on the role that each actor has to play in enabling the changes needed to ensure a more efficient and effective allocation of capital towards green growth solutions.