20
April
2022
|
15:17
Europe/Amsterdam

Net Zero Delivery Summit launched

The City of London Corporation, in association with the COP 26 UK Presidency 2022, announce the launch of the Net Zero Delivery Summit at Mansion House, London, on 11 and 12 May 2022.

This international summit, delivered at the halfway milestone between COP 26 in Glasgow and COP 27 in Sharm El-Sheikh, will focus on net zero delivery and the progress of key priorities for finance agreed at COP 26 in Glasgow.

Hosted by the Lord Mayor of London, Vincent Keaveny, with participation by the COP 26 and the Glasgow Financial Alliance for Net Zero (GFANZ) leadership, as well as financial and professional services (FPS) and business leaders, the summit will commit to driving three objectives:

  • Maintain momentum on key policy initiatives for finance from COP 26;
  • Present as best practice, the role of FPS in helping the wider economy achieve net zero;  
  • Secure London’s role as a strategic leader on sustainable finance.

These critical discussions, held over two days, will take place against a backdrop of conflict in Europe and rising geopolitical tensions across the world. Senior international policymakers, experts and Ministers will address what the current challenge to energy security and disruption to supply chains means for the net zero agenda and its implementation; how FPS is supporting net zero delivery across the wider economy; and how finance is being effectively mobilised to support the net zero transition in emerging markets, to build climate resilience in developing countries and secure a just transition to net zero.

Over the two days, the Summit will feature a series of keynotes and two ‘In conversation’ sessions with high-level international participants,

Four speaker panels over two days will discuss:

  • Net zero implementation, providing a deep dive into how the financial sector and the real economy can realize their net-zero commitments through credible, ambitious net-zero transition plans.
  • Capital Mobilisation to Emerging Markets and Developing Economies, will explore the solutions needed to increase the flow of private capital to emerging markets and developing economies to finance the transition to a low-carbon economy.
  • Net Zero Public Policies will discuss how regulators and policymakers are helping mobilise capital towards a greener, more climate-resilient economy, with reference to sustainability data, disclosure, and standards.
  • The Road to COP 27 will look forward to COP27 and beyond, focusing on the milestones in the lead-up to Sharm El-Sheikh and ambitions for finance initiatives at the conference.

Speakers include, Vincent Keaveny, Lord Mayor of London; Mark Carney, Co-Chair of GFANZ and UN Special Envoy for Climate Action and Finance; Mary Schapiro, Vice Chair and Head of the Secretariats for GFANZ and Task Force on Climate-related Financial Disclosures; Nigel Topping, High Level Champion for Climate Action COP 26.

Lord Mayor of London, Vincent Keaveny said:

As we reach the halfway point between COP26 and COP27, it’s vital that we take stock of the progress made so far and set new milestones.

“Here in London the financial services sector has a crucial role to play in helping to mobilise the private capital needed for the developing world’s march towards net-zero. 

“At COP26 up to $130tn of private capital was committed to hitting net zero emissions targets by 2050, from more than 450 banks, insurers and asset managers across 45 countries.

“As we approach the African COP it’s now time to put these pledges into to action.”

Alok Sharma, COP26 President, said: 

“Commitments made at COP26 helped to transform the global financial system into a mechanism capable of delivering net zero. But in order to keep the pulse of 1.5 alive, it is critical these commitments are turned into actions.

“For private finance, this represents a generational opportunity to capitalise on green transition, seize green growth, and helping to mobilise the trillions of dollars needed to finance the global response to climate change. As a global financial centre, the City of London has a huge role to play in this.”

Mark Carney, Co-Chair of GFANZ and UN Special Envoy for Climate Action and Finance, said: “It’s critical that we maintain the momentum and ambition established at COP26. Through continued collaboration between the public and private sectors, we can accelerate the transition to a net-zero economy. Building on London’s role as the centre of international and sustainable finance, this summit can drive the shift from ambition to action the world needs on the path to net zero.”

An audience of two hundred FPS and business leaders will attend the summit at Mansion House, with a simultaneous livestream.  To register to join the livestream visit: https://www.theglobalcity.uk/net-zero-delivery-summit

ENDS

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

COP 26 Presidency

The UK now holds the Presidency until COP27 later this year. There is crucial work to be done as we spend the coming months working with governments and organisations to make sure they deliver on the Glasgow Climate Pact, turning momentum into action. https://ukcop26.org/

The Glasgow Financial Alliance for Net Zero (GFANZ) is a practitioner-led, global coalition of financial sector institutions and their sector-specific alliances working together to accelerate the world’s transition to net-zero greenhouse gas emissions by 2050 and achieve the objective of the Paris Agreement to limit global warming to no more than 1.5 degrees C. https://www.gfanzero.com/