The 29th Conference of the Parties of the UNFCCC (COP29) will be held in Baku, Azerbaijan, with the aim to enhance ambition and enable stronger climate action. The first pillar — to “enhance ambition” — seeks to have all parties commit to ambitious national plans and transparency, while the second pillar — to “enable action” — reflects the critical role of finance, a key tool to turn ambition into action and reduce emissions, adapt to climate change and address loss and damage.
The world is teetering dangerously close to the 1.5°C threshold, but actions have largely failed to keep up with plans. Guided by the latest science and informed by the outcomes of the Global Stocktake, COP29 will review the progress of the Paris Agreement commitments and address fundamental and pressing issues that are hindering global climate action and cooperation, with a new collective quantified goal (NCQG) as a centrepiece.
Temasek will be curating two panel discussions hosted at the Singapore Pavilion within the Blue Zone.
Join us to hear from global business leaders and Temasek executives on how we are driving the acceleration of global green transition and decarbonisation through investing in climate solutions, building strategic partnerships and platforms, as well as leveraging ecosystem partnerships and collaborations to drive and propel systems-level change.
Main banner image credit: Baku Olympic Stadium
While the concept of “first loss capital” in the context of blended finance has been popularised from 2015, there has been hesitation to commit funds for that purpose due to concerns about subsidy aversion and moral hazard such as misalignment of objectives amongst capital contributors. Meanwhile, a significant climate financing gap exists at US $1.5 trillion for SEA by 2030. How have commercial and concessional capital providers reimagined and redesigned finance mechanisms to mitigate bankability issues and effectively jump start green infrastructure financing?
Head, Financial Services, Temasek
Managing Director & CEO , Clime Capital
Director General, Southeast Asia Department, Asian Development Bank (ADB)
Executive Vice President, Program Strategy, The Rockefeller Foundation
Senior Partner, London, McKinsey & Company
Green solutions across a variety of sectors today are now cheaper than incumbent products powered by fossil fuels, with a virtuous cycle of cost down as they scale up. Examples include distributed solar photovoltaics now costing less than fossil fuel generators, and electric 2-wheeler vehicles being cheaper to own than traditional powertrains. In the face of policy levers that are still being refined and renewable energy infrastructure growth still in its early days, how can the private sector seize this unprecedented opportunity to trigger the green leap for the region’s emerging consumers, and spur sustainable development between now and 2030?
Partner & Co-Head of Climate Strategy, LeapFrog Investments
Co-Founder & CEO, Cosmos Innovation
Founder & Chairman, Solar Impulse Foundation
Managing Director, Head of Sustainability and Government Affairs, ASEAN, HSBC, Board Member, Pentagreen Capital
Director, Sustainability & Climate Change Strategy, Temasek