The 27th U.N. Climate Change Conference of the Parties (COP27) took place in Sharm El-Sheikh, Egypt from November 6th to 18th, 2022. Egypt’s vision as COP27 President is to move from negotiations and planning towards “full, timely, inclusive, and at-scale action on the ground”.
Guided by the World Bank Group (WBG) Climate Change Action Plan, the WBG exchanged ideas and solutions at COP27 that will help countries achieve climate and development goals together.
At COP27, IFC showcased breakthrough private sector solutions and focused on how to accelerate the development of bankable opportunities for decarbonization and climate change adaptation. In Sharm El-Sheikh, IFC concentrated on 3 key themes: Adaptation and Resilience, Mobilizing Climate Finance, and Energy Access and Decarbonization.
Wednesday, Nov 9
10:00 - 10:45
Greening of the African Financial Sector
This interactive, high-level panel will share successful climate finance investment instruments in Africa’s private sector banks, while highlighting the important role regulators play in greening the financial sector.
Wednesday, Nov 9
13:00 - 13:45
Blue Finance – Unlocking the Potential of the Blue Economy
The objective of this panel discussion is to explore the blue economy—how it is defined, what it encompasses, and what/where is driving the demand. The panel discussion will also explore momentum for blue finance among investors, financial institutions, and issuers globally, as well as climate-smart investing in biodiversity—and how MDBs and others are responding to this increasing demand.
Wednesday, Nov 9
15:00 - 15:45
Innovative Mobilization Platforms
This event will focus on the progress made to date on IFC’s mobilization platforms (e.g., MCPP One Planet, SEED, REGIO), and the next generation under development.
Thursday, Nov 10
10:00 - 10:45
The Future of Climate Technologies in Africa
The goal of the panel is to get insights from leading decision makers regarding policy, financing, and real sector innovations.
Thursday, Nov 10
15:00 - 15:45
Global Food Security Program (GFSP)
Increasing commodity prices, paired with greater climate volatility, are putting additional pressure on the producers to optimize their practices. In response, IFC has established $6 bn response in the form of GFSP, which features longer term of objectives of more climate- and shock-resilient food systems. This event is an opportunity to showcase IFC’s leadership on this topic and specific client experiences, with a focus on climate resilience and adaptation.
Thursday, Nov 10
16:00 - 16:45
Achieving Universal Energy Access and Climate Goals in Africa
IFC and IRENA will host an Energy Access event which aims to bring together Ministers from across the region and the heads of international organizations to share experiences and discuss the Energy Access agenda and propose a way forward to reach SG7 by 2030 through clean energy solutions. Participants will explore some of the main emerging themes around universal access to clean and affordable energy in the continent, focusing on the opportunities, strategic, operational and technical challenges of incorporating energy access both on the demand and supply side including a renewed understanding of its complexity and the key role played by the private sector.
Friday, Nov 11
10:00 - 10:50
Sustainable Development of Critical Minerals
To present strategies and concrete examples of how sustainable finance can unlock low-carbon infrastructure developments for the mining of minerals critical to the energy transition.
Friday, Nov 11
13:00 - 13:45
Financing and Implementing Decarbonization – Practical Steps for Value Chain Transformation
A client-centric event, showcasing successes in decarbonization of value chain approach by IFC’s clients, particularly those who have utilized IFC’s expanding upstream/advisory product offerings to plan, implement, and finance steps toward decarbonization.
Friday, Nov 11
17:00 - 17:45
Industrial Decarbonization in Egypt and Africa
The event aims to demonstrate learnings and experience of IFC Advisory projects in manufacturing sector in Egypt and Africa. Participants will learn by examples of concrete projects and cases.
Saturday, Nov 12
10:00 - 10:45
How to Build a Climate-Smart PPP Pipeline for Private Sector Investment and Finance.
Saturday, Nov 12
14:00 - 14:45
Investing in Agriculture to Boost Climate Resilience
Overview of IFCs approach to Agriculture and Adaptation including services offered by the MAS Advisory team. The discussion will then introduce the recently published IFC/IFAD Handbook for Scaling Irrigation Systems and focus on the way smart irrigation systems and practices can provide a pathway out of poverty for millions and increase farmers’ climate resilience, with a particular focus on Sub-Saharan Africa and South Asia.
Saturday, Nov 12
17:00 - 17:45
Accelerating Support to City Climate Action: APEX Green Cities Launch
WBG accelerating support to city climate action and increasing national and local government access to urban climate finance.
Monday, Nov 14
14:00 - 15:45
How to Scale up Desalination and Water Reuse in Africa and Emerging Countries
Global droughts and water shortages are becoming more and more recurrent. To address these, countries need to adopt not only mitigation but also adaptation measures and attract private sector participants to become a part of the solution. But how to achieve this? Find out with our water panelists from Suez International, Metito, GWI as well as government representatives from Egypt, Senegal, and South Africa.
Monday, Nov 14
17:00 - 17:30
Tuesday, Nov 15
13:00 - 13:45
Climate and Livestock Investments: How to Enhance Sustainability and Align with the Paris Agreement
The discussion will introduce the recently published the IFC Practices for Sustainable Investment in Livestock Operations and focus on the way financial institutions can and should reduce the climate impact of the livestock sector and ensure its traceability (Practices 4 and 5). We will learn how IFC and other Multilateral Development Banks are implementing these Practices with clients. We will also discuss the decarbonization challenges and opportunities as seen by IFC clients.
Wednesday, Nov 16
15:00 – 15:45
Financing Transition to Nature-Smart Economies
The panel will discuss investment opportunities in biodiversity finance and innovative business models to promote the protection of biodiversity and ecosystem services. Emphasis will be placed on the potential for the private sector to take a leading position in this transition through targeted investment activities.
Wednesday, Nov 16
16:00 – 16:45
The purpose of this event is to highlight successful proven tactics of collaboration between the public and the private sector in enhancing the green building market (Colombia), showcasing global examples from emerging markets and the African continent. The event will also showcase Egypt’s progress on green buildings.
Thursday, Nov 17
11:00 – 11:45
Green Real Estate Investment Portfolio
The event highlights the opportunities and challenges for the private sector, as large property owners and corporations commit to net-zero and transform their real estate portfolios through retrofitting existing buildings and ensuring new developments are green. The event will showcase successful examples from real estate owners and funds as they plan, finance, and execute their green transitions. The event would also bring an industry panel to discuss their plans, experiences, and challenges in the space.
Thursday, Nov 17
16:00 – 16:45
Catalyzing the Carbon Credit Market
The purpose of the event is to i) profile the Carbon Opportunities Fund (done in part with World Bank, Cultivo, Aspiration, and Chia Network), ii) showcase market development work (possibly with regulators in Egypt), and iii) look at other carbon funds.
See the full schedule of World Bank Group events at COP27
IFC took an active role in COP26 at Glasgow in 2021, announcing a portfolio of emerging-market loans aligned with the Paris Agreement, and a new fund to mobilize private investment into emerging market sustainable bonds that support a green, resilient, and inclusive recovery.