SIDE EVENT
Friday 3 June
13:00-14:15 CEST
Stockholmsmässan, Room 2
Organizers: Global Opportunities for Sustainable Development Goals, UNEP Finance Initiative, German Ministry of Environment, International Labor Organization.
About: Changing consumption and production patterns, scaling up circularity and sustainable finance are key themes that have emerged as priorities during the Stockholm+50 consultations process at the national, regional, and global levels.
Building circularity in our economies requires designing out waste and pollution, retaining the value of materials and products and keeping them in the economy, while also regenerating natural systems. It leads to the transition from the current “take, make and dispose” extractive industrial model to a decoupling of economic activity.
The shift from a linear to a circular economy is pressing. Circularity is a promising pathway to the SDGs and for a sustainable COVID19 recovery. Countries, companies and institutions around the globe are embracing approaches on circular economy and building cooperation to accelerate this shift. However, most financial institutions are yet to address related risks and lack awareness of financially viable opportunities. The financial sector is essential to scale up financing for circularity.
This event will bring together financial institutions, development banks, UN Agencies and other partners to share their insights, initiatives and best practices on financing circularity and its potential for a sustainable recovery and green jobs generation.
Moderator(s): Adriana Zacarias-Farah (UNEP)
Panelists:
- Sonja Leighton-Kone (UNEP)
- Steffi Lemke (Federal Ministry for the Environment Germany)
- Massimiano Tellini (Intesa Sanpaolo)
- Al-Hamndou Dorsouma (IDB)
- Katja Suhr (GIZ)
- Madeleine Ronquest (First Rand)
- Mette Grangaard Lund (ILO)
- Ricardo De Vecchi Galindo (IDB)
Contact person: Adriana Zacarias Farah (adriana.zacarias_at_un.org)
Event outcomes (Key transformative actions):
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The Inter-American Development Bank, in coordination with UNEP and the Circular Economy Coalition for Latin America and the Caribbean, is structuring a technical assistance fund to unlock circular investments in LAC, both at the public and private sector levels. The Fund will support the Coalition’s workplan and specific demands from country members, including knowledge creation, technical assistance and capacity building, public policy support, project design, and structure financial instruments. In practice, the Fund will function as a policy and project accelerator. The Bank is committed to providing seed funding to leverage resources from members/potential partners. The target is to structure a US$ 1 million fund.
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GO4SDGs and UNEP FI will continue to strengthen South-South Cooperation between Africa and LAC, by exploring and sharing knowledge on mechanisms to financing circularity. We will build strategic partnerships with African Development Bank, Dalberg, GIZ and others partners.