At this year’s Finanzwende Forum we explore ways to reform financial systems for an orderly transition to a low-carbon economy that is in line with the climate stabilization goals set out in the Paris Agreement. How can we make sure that the Finanzwende provides the capital for low-carbon development in all sectors of the real-economy? Our three panels discuss this question by focusing on the market information requirements, the policies, and the financial products needed to hedge the risks and seize the opportunities of the low-carbon transition.
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Date & Venue
Frankfurt School of Finance and Management, Sonnemannstraße 9-11, Frankfurt am Main
15.09.2016 / 10:00-17:30
The conference is held in English and is jointly organized by the Green Parliamentary Group in the German Bundestag and the Greens/EFA Group in the European Parliament.
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Program
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10.00
Registration
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10.30
Introduction
Anton Hofreiter MP
Co-Chair of the Green Parliamentary Group, German Bundestag
Reinhard Bütikofer MEP
Co-Chair European Green Party, European Parliament
Gerhard Schick MP
Spokesperson on Financial Policy of the Green Parliamentary Group, German Bundestag
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11.00
Panel 1
Disclosing Risks, Revealing Opportunities: What Information do Financial Markets Need for a Sustainable Transition?
Sound financial decision-making, especially before the background of an economic transformation, requires robust information. Reliable, standardized and significant data about climate-relevant aspects of investments that go beyond carbon footprinting can enable market participants to better protect the value of their investments against climate risks, create stability by making finance flows compatible with a global warming scenario well below 2°C and allow investors to seize the opportunities of a low-carbon transformation. How does this climate-related information need to look like? How can it be made accessible and applicable to different asset classes and entire portfolios and how can it be mainstreamed into financial decision-making?
Oliver Bäte (Keynote)
Chief Executive Officer, Allianz SE
Maximilian Horster
Director Financial Industry, South Pole Group
Christian Thimann
Vice-Chair, Financial Stability Board Task Force on Climate-related Financial Disclosures
Head of Strategy, Sustainability and Public Affairs, AXA
Matthias Hellstern
Managing Director Corporate Finance Group EMEA, Moody’s Deutschland
Moderator: Reinhard Bütikofer MEP
Co-Chair European Green Party, European Parliament
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12.30
Lunch
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13.30
Panel 2
Investing, Incentivizing or Regulating? The Paris Agreement, the G20 Green Finance Study Group and Political Levers for the Finanzwende
When international leaders agreed on a climate deal in Paris in December 2015, they brought in line political ambitions with scientific realities. At COP 22 in Marrakesh, all eyes will be on how this ambition can be put into action. Re-channeling public and private finance from carbon-intensive to low-carbon technologies and practices will be an essential part of complying with the long-term climate goal. A broad discussion on political instruments for financial reform is currently underway: greening multilateral development banks, public budgets, market places or public investment strategies. Proposal-sets and best-practices are proliferating – from national reforms to global initiatives such as the G20 Green Finance Study Group. What can we expect from policy-makers to push forward the Green Finance agenda? What have to be the signals and frameworks that mobilize the investments needed for such a transition?
Per Bolund (Keynote)
Swedish Minister for Financial Markets and Consumer Affairs, Deputy Minister for Finance
Li Junfeng
Director General, Chinese National Center for Climate Change Strategy and International Cooperation
Simon Zadek
Co-Director, UNEP Inquiry into the Design of a Sustainable Financial System
Heffa Schücking
Director, urgewald e.V.
Moderator: Annalena Baerbock MP
Spokesperson on Climate Policy of the Green Parliamentary Group, German Bundestag
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15.00
Coffee Break
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15.45
Panel 3
Promoting the Development and Diffusion of Green Financial Products
From pension funds to local governments and individual savers, the interest to divest is growing. Yet divestment is only one part of the Finanzwende. The other part is investment where a perceived lack of diversified and scalable green alternatives can pose challenges. Pension funds in particular are required to invest in safe and liquid assets such as government bonds and established stock indices. Yet most indices still include high-carbon companies. Another hurdle is a lack of transparent information as especially retail investors see themselves confronted with a complicated market that lacks accepted labels that help differentiating between green and conventional alternatives. How can public and private actors work together to promote the further development and diffusion of green financial products?
Caio Koch-Weser (Keynote)
Chair, European Climate Foundation
Sir Roger Gifford
Chair, City of London Green Finance Initiative
Anja Mikus
Chief Investment Officer, Arabesque Partners
Jochen Wermuth
Founder and Chief Investment Officer, Wermuth Asset Management
Moderator: Gerhard Schick MP
Spokesperson on Financial Policy of the Green Parliamentary Group, German Bundestag
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17.15
Conclusions
Annalena Baerbock MP
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