City of London Corporation and Green Finance Institute launch Green Horizon Summit@COP26 to mobilise private finance in transition to net zero
The City of London Corporation and Green Finance Institute have today [27 May 2021] announced plans to co-host a hybrid Green Horizon Summit at the UN Climate Change Conference, better known as COP26, which takes place in Glasgow in November.
GHS@COP26 builds on the success of the Green Horizon Summit in November 2020 and will provide a platform for discussion about how to mobilise public and private finance for the transition to a net zero economy.
GHS@COP26 will bring together global green finance leaders from the financial and professional services sectors, as well as influencers and decision-makers from regulatory and policy-making bodies, science, academia, NGOs and environmental groups. The agenda will tackle the key barriers to accelerating the mobilisation of capital, including: how can we finance both transition and growth, how can we build a global green playbook, how can we price carbon and nature, and how can we meet – and beat – the $100 billion climate finance commitment outlined in the Paris agreement. The agenda will also include related themes – including energy, the built environment, transport, nature, adaptation and resilience – and sub-sectors of the financial and professional services industry.
The event will be held at the historic South Rotunda in Glasgow, close to both the Blue and Green Zone venues at the COP26 conference, with physical hubs also at Mansion House and the Guildhall within the City of London. Additional sessions will be held in other global financial centres and all content will be streamed onto our online platform to maximise accessibility and inclusivity.
Natwest Group, one of the Principle Partners for the UN Climate Change Conference, has signed up as the first strategic partner for GHS@COP26.
Alderman William Russell, The Rt Hon The Lord Mayor of the City of London, said:
“If we are to address the threat of climate change, we urgently need to harness the scale, expertise and creativity of the global financial industry.
“I am therefore delighted that the hugely impactful Green Horizons Summit is being held at COP26, and look forward to helping drive forward this important agenda.”
Catherine McGuinness, Policy Chair at the City of London Corporation said:
“COP26 gives us an opportunity to place finance at the heart of the transition to a net-zero emission future, but only if we work together as a global community.
“The Green Horizon Summit provides us an excellent platform to do this, and will no doubt kick start some productive discussions that lead to tangible action in November, and in the lead up to the event.
Dr Rhian Mari-Thomas OBE, Chief Executive of the Green Finance Institute said:
“We are at a critical juncture in the race to find new ways to channel global finance into local solutions. Collaboration is critical, bringing public, private and philanthropic capital together to co-create the innovations and solutions that will accelerate the investment opportunity in green finance and mobilise capital at the speed and scale necessary to achieve our net zero goals globally.
“GHS@COP26 provides a platform for this collaboration, and robust, pragmatic discussion that can help financial institutions align their business models to net zero and drive real-economy transition, growth and jobs.”
Alison Rose, CEO of Natwest Group, said:
“Tackling climate change is a team sport, and we all benefit from strong, productive partnerships across financial services and other sectors.
“The Green Horizon Summit is a unique forum for leadership and collaboration on the green agenda, highlighting the importance of mobilising private finance, and making clear the role of financial institutions in the sustainable transformation of our economy.”
Nigel Topping, COP26 High Level Champion, said:
“Mobilising private finance is a crucial plank in the Race to Zero, which is why I was so delighted that the Green Horizon Summit last November was so successful. And, there’s no doubt that helped build the momentum which enabled me and Mark Carney to launch the Glasgow Financial Alliance for Net Zero.
“So I’m delighted the City of London Corporation and Green Finance Institute are launching GHS@COP26. I have no doubt that will mobilise a lot more financial players and demonstrate that the City of London is at the heart of the financial innovation that is so crucial for deploying the trillions of private sector capital needed to put us on track for a zero carbon economy.”
In the run up to summit in November, a number of Green Horizon Perspectives events will be held, exploring some of the key opportunities and challenges in green finance. The next in the series will air on 30th June 14:00 to 15:30 UK time during London Climate Action Week and focus on role of cities in accelerating green finance.
Click here for more information about the GHS@COP26 platform and other Green Horizon initiatives, or to sign up to join our community.
The announcement of the summit follows the sad news of the death of Chair of the Green Finance Institute Sir Roger Gifford, who died at home on 25 May from myeloma. Sir Roger, who was Lord Mayor of the City of London in 2012-13, showed inspirational leadership for many years in ensuring the financial sector plays a pivotal role in the fight against climate change.
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Notes to editors
The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk
About the Green Finance Institute
The Green Finance Institute is an independent, commercially focused organisation, supported by Her Majesty’s Treasury, the Department for Business, Energy and Industrial Strategy, the Foreign, Commonwealth and Development Office and the City of London Corporation.
As the UK’s principal forum for public and private sector collaboration in green finance, it is uniquely placed to mobilise capital to accelerate the domestic and international transition to a sustainable, net-zero carbon economy that is also climate resilient.
The Green Finance Institute convenes and leads mission-led coalitions to identify and unlock barriers to deploy capital at pace and scale towards impactful, real-economy outcomes.