The European Investment Bank (EIB) Engages in 2023 Finance in Common Summit: Highlights of Participation

The European Investment Bank (EIB) Engages in 2023 Finance in Common Summit: Highlights of Participation

(IN BRIEF) The European Investment Bank (EIB) is set to join the 2023 Finance in Common Summit in Cartagena, Colombia, from September 4th to 6th. Key highlights include President Werner Hoyer’s address on Sustainable Development Goals, unveiling the EIB Climate Survey results, discussions on global change and sustainable blue finance. Notable initiatives encompass signing a $50 million investment in a Latin-American climate change fund and launching the Global Green Bond Initiative. The EIB’s efforts in addressing climate risks will also be presented. Interviews with EIB spokespeople can be scheduled through provided contacts.

(PRESS RELEASE) BRUSSELS, 1-Sep-2023 — /EuropaWire/ — The European Investment Bank (EIB) eagerly anticipates its presence alongside regional partners, civil society, and fellow financial institutions at the upcoming 2023 Finance in Common Summit, scheduled to take place in Cartagena, Colombia from Monday to Wednesday next week. The EIB is poised to make significant contributions across various sessions. Here are key highlights of the anticipated announcements that may capture the attention of participating media.

1. EIB President Werner Hoyer’s Keynote on Sustainable Development Goals

On Monday, 4th September, EIB President Werner Hoyer is set to address the opening plenary of the summit. His address is expected to underscore the urgent need for concerted action to achieve the 2030 Sustainable Development Goals. President Hoyer will emphasize the Finance in Common Summit’s core objectives: fostering sustainable financial products and services, channeling capital to sustainable projects, enhancing financial institutions’ capabilities to fulfill the Sustainable Development Goals, and advocating policies that promote inclusive, sustainable finance. Notably, President Hoyer will outline ongoing projects aligning with these aims that hold the potential for significant advancements within the current decade.

2. EIB Climate Survey Results Revealed

At 10 a.m. COT (GMT-5), the EIB, in collaboration with Columbian development bank Bancóldex, will unveil the latest edition of the EIB Climate Survey. The survey involved over 10,000 individuals across 13 Latin American and Caribbean countries, exploring their perceptions and concerns regarding climate change. The findings, critical for informed policy decisions on the path to sustainability, encompass public sentiment about climate change impacts, viewpoints on governmental initiatives, economic ramifications, energy preferences, and in-depth data for numerous countries in the region.

3. EIB’s Engagement in Driving Global Change Workshop

EIB Global’s Acting Managing Director Markus Berndt will participate in a workshop titled “Driving Global Change: The Role of PDBs to Mobilize Private Capital for Sustainable Infrastructure” at 10.30 a.m. This session delves into the instrumental role of public development banks in galvanizing private capital for sustainable infrastructure initiatives.

4. Advancing Sustainable Blue Finance for Ocean-Positive Action

On Tuesday, 5th September, a side event focusing on “Sustainable Blue Finance for Ocean-Positive Action” will commence at 8.30 a.m. The EIB, represented by Vice-President Ricardo Mourinho Félix, along with other participants, will collaborate towards a shared commitment by public development banks to formulate a Blue Finance Roadmap. This roadmap aims to identify funding gaps, feasible funding opportunities, knowledge sharing, and accountability mechanisms. The progress achieved in this endeavor could be presented at the UN Oceans Conference in 2025, reaffirming the commitment of public development banks towards marine protection and the blue economy.

5. Promoting Nature-Based Solutions and Green Financing

EIB Vice-President Ambroise Fayolle will address the plenary session titled “Nature-based Solutions for Climate Adaptation and Social Inclusion” at 9.45 a.m. This segment explores the challenges and opportunities tied to financing nature-based solutions. Subsequently, experts from the EIB, Inter-American Development Bank, and Caribbean Development Bank will offer insights during the “Adaptation and Nature-Based Solutions” project clinic at 3.30 p.m., guiding project promoters in optimizing their financing prospects.

6. EIB Initiatives Unveiled: Climate Change Fund Investment and Global Green Bond Initiative

During the summit, the EIB will sign a $50 million investment in a Latin-American climate change fund at 2 p.m. on Tuesday. This investment underscores the EIB’s commitment as the EU climate bank under the EU Global Gateway initiative.

At 3.45 p.m., a pivotal moment is anticipated as the EIB, in collaboration with esteemed partners such as the European Commission, Cassa Depositi e Prestiti, and the Green Climate Fund, unveils the Global Green Bond Initiative. This initiative seeks to bolster green bond markets in emerging economies and facilitate the growth of local capital markets.

7. EIB’s Contributions in Addressing Climate Risks

On Wednesday, 6th September, the EIB’s Head of Country and Financial Sector Analysis, Barbara Marchitto, will participate in a workshop titled “From Climate to Nature-Related Risks – Lessons Learned and How to Move Forward.” Coinciding with this session, the EIB will release a working paper that delves into climate risk in Latin America and the Caribbean. This document highlights the region’s disproportionately high vulnerability to climate change impacts, despite contributing less than 5% of global emissions.

Media contacts:

Tankler Allar

a.tankler@eib.org
+352 4379-82531

Enrico Possenti

e.possenti@eib.org
+352 4379 – 82144

Press Office

press@eib.org
+352 4379 – 21000

SOURCE: EIB