Sustainable Finance to Boost Impact: Platforms and Instruments
Overview
On the sidelines of this year's Spring Meetings and part of the #G20 Side Events, the event Sustainable Finance to Boost Impact brought together influential figures from the global finance community to address the urgent needs of climate finance and sustainable development. It featured contributions from the Brazilian Minister of Finance, Fernando Haddad, and Mark Carney of the Glasgow Financial Alliance for Net Zero. Opening remarks were delivered by Brazilian Ambassador to the United States, Maria Luiza Viotti. We were thrilled to co-host it in partnership with the Institute for Climate and Society from Brazil and the Atlantic Council.
The first panel was moderated by Josué Tanaka, who chairs the high-level expert group in the G20 Sustainable Finance Working Group, brought together Maria Netto, CEO of the Institute for Climate and Society, and other experts like Mafalda Duarte from the Green Climate Fund, Luciana Costa, representative from the Brazilian Development Bank - BNDES, to present the role of Public Development Banks, Danny Alexander, of the Asian Infrastructure Investment Bank (AIIB), and Phil Stevens from the UK Foreign Commonwealth & Development Office. They shared valuable insights about what is needed from the international ecosystem, such as Multilateral Development Banks (MDBs), and bilateral and international organizations of support to develop new good examples of country platforms.
The second panel, steered by Barbara Buchner, addressed innovative instruments to mitigate financial risks in climate investments. In this session, specialists focused on innovative strategies to mitigate risks associated with scaling up climate investments. Panelists included Avinash Persaud from the Interamerican Development Bank (IDB) who discussed hedge mechanisms, Tariye Gbadegesin, CEO of the Climate Investment Funds, Harald Hirschhofer, Senior Advisor at The Currency Exchange Fund, Jennifer Lee Morgan, Germany's State Secretary and Special Representative for International Climate Policy. The discussion aimed to explore various financial instruments and mechanisms that can address different types of risks at multiple levels—ranging from country, policy, and political risks to performance, currency, and credit risks. The goal was to identify the most promising strategies for mitigating these risks to enhance the effectiveness and reach of climate finance initiatives.
The event wrapped up with closing reflections by Ivan Oliveira, from the Brazilian Ministry of Finance, Adam Wang-Levine from the U.S. Department of the Treasury and the People's Bank of China. These closing remarks underscored the event's significant strides towards innovating sustainable finance and setting a collaborative path forward for impactful climate finance frameworks.
G20 Side Event - Spring Meetings
Opening dialogue with Brazil's Minister of Finance, Fernando Haddad and Brazil Institute Director Bruna Santos.
Hosted By
Brazil Institute
The Brazil Institute—the only country-specific policy institution focused on Brazil in Washington—works to foster understanding of Brazil’s complex reality and to support more consequential relations between Brazilian and US institutions in all sectors. The Brazil Institute plays this role by producing independent research and programs that bridge the gap between scholarship and policy, and by serving as a crossroads for leading policymakers, scholars and private sector representatives who are committed to addressing Brazil’s challenges and opportunities. Read more
Latin America Program
The Wilson Center’s prestigious Latin America Program provides non-partisan expertise to a broad community of decision makers in the United States and Latin America on critical policy issues facing the Hemisphere. The Program provides insightful and actionable research for policymakers, private sector leaders, journalists, and public intellectuals in the United States and Latin America. To bridge the gap between scholarship and policy action, it fosters new inquiry, sponsors high-level public and private meetings among multiple stakeholders, and explores policy options to improve outcomes for citizens throughout the Americas. Drawing on the Wilson Center’s strength as the nation’s key non-partisan policy forum, the Program serves as a trusted source of analysis and a vital point of contact between the worlds of scholarship and action. Read more
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