November 9th, 14:00 – 15:30 (Glasgow time)
COP26 IDFC Pavilion and online
Background and purpose of the event: Today’s climate and sustainability challenges require both long-term thinking and collective action. Achieving this in an increasingly complex and volatile world, and in times of sanitary, social, economic and environmental crises, is a major issue. Recognizing that they are insufficiently equipped to address it, an increasing number of financial stakeholders, including from the public development finance community, are developing a wide range of foresight approaches to better use the futures and integrate corresponding uncertainties in their strategies, activities and operating modalities. Some are also using such approaches to foster dialogue, partnerships and collective engagement and action.
Finance is a major economic instrument linking corporates, institutions, communities and individuals to the climate-smart and sustainable futures we all want, encompassing the SDGs. It is a trigger for change, and is pivotal in building back better and in aligning short-term decision making with longer-term goals.
In the climate space, rethinking how we represent and use our futures is becoming essential to facilitate mobilization around new, desirable and desired, development pathways, aligned with the Paris agreement and the 2030 agenda. Forward looking lenses, uncertainty integration and scenario planning are all key for the elaboration of long-term low carbon and climate resilient strategies and policies. Such approaches are similarly important to address the many climate risks (physical, transition, liability) and uncertainties that affect investments, portfolios and institutions. They prove also helpful to navigate a complex and fast-evolving landscape and facilitate the emergence of new visions and opportunities.
To advance on these topics, the proposed event will discuss the relevance of using foresight in the area of climate finance, with concrete illustrations from development finance practitioners and policy makers, showing the benefits but also the challenges related to the implementation of anticipatory approaches and the integration of uncertainties. The event will also exchange on the need for collaboration to improve decision-making under uncertainty.
Organizers: Mainstreaming Climate in Financial Institutions and French Development Agency (AFD)
Location: COP26 IDFC Pavilion - hybrid event enabling remote participation of both speakers and participants.
Format and Audience: The conference will be livestreamed on the IDFC Secretariat’s website: https://www.idfc.org/idfc-is-at-cop-26-in-glasgow-uk/