Side event on the margins of the United Nations Environment Assembly (UNEA2), UNEP headquarters, Nairobi

The finance symposium, co-hosted by the UNEP Inquiry and the UNEP Finance Initiative, aims to showcase that the financial system both globally and nationally is at an exciting nexus for playing an active role in sustainable development and in the implementation of the Sustainable Development Goals (SDGs) and the Paris Agreement. The future investments and broader financing required will necessitate both mobilising capital through new financial products and asset classes, as well as the mainstreaming of environmental risks across the entire financial system.

The symposium will examine how this can be done from two different perspectives. The first session, hosted by the UNEP Inquiry, will focus on efforts made so far in aligning the financial system towards sustainable development, including international models of cooperation. It will draw on international examples of best practice financial policy innovation. The second session, hosted by the UNEP Finance Initiative, will showcase where leadership is developing from within the financial industry itself. Together the sessions will highlight opportunities for the public and private sectors to come together in mobilising private finance for sustainable development.

Session 1: Towards a Sustainable Financial System

Opening Remarks – Mr. Achim Steiner, Executive Director, UNEP

Panellists:

Kenya – Mr. Patrick Njoroge, Governor, Central Bank of Kenya (opening intervention)

Germany – Mr. Jochen Flasbarth, State Secretary, Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety

Mongolia – Ms. Oyun Sanjaasuren, Member of Parliament and former President of UNEA

South Africa – Ms. Edna Molewa, Minister of Environment (TBC)

Moderator:  Mr. Simon Zadek, co-Director, UNEP Inquiry

Session 2: The finance industry perspective on mobilizing private finance for the SDGs:

Panellists

Mr. Jeremy Ngunze, CEO, Commercial Bank of Africa, Kenya

Mr. Davaakhuu Tumurkhuu, Vice President of the Mongolian Bankers Association & CEO of Arig Bank, Mongolia

Mr. Raymond Carlsen, CEO, Scatec Solar

Moderator: Mr. Eric Usher, UNEP Finance Initiative

Concluding remarks: Mr. Olusegun Obasanjo