ID:92126756

FINANCING A LOW-CARBON ECONOMY

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As the energy transition gains momentum, businesses and financial institutions are beginning to adapt to the low-carbon future.

But this future needs major investment. In fact it needs €379bn of investment, every year from 2021, just to reach the EU’s 2030 climate and energy strategy targets. Multiple financing challenges lie ahead, and investors need accurate and up-to-date information to help them to anticipate and overcome the obstacles to achieve a return on investment in the transition towards a lower carbon economy.

The G20 industry led Task Force on Climate-Related Financial Disclosures (TCFD), set up by the Financial Stability Board, plays an important role in convincing companies to increase voluntary, decision-useful and reliable climate-related financial risk disclosures. Transparency of financial data will help investors navigate the challenges of climate change by reducing uncertainty among themselves and encourage better decision-making on where to allocate their capital.

  • How are companies profiling climate change in their risk and financial portfolio and what is the financial sectors’ role in reducing these risks presented by the energy transition and climate-related events?
  • How do we ensure the consistent transparency of the financial markets as part of a market-based solution to climate change?
  • How can industry and governments collaborate to demonstrate the competitive advantage and value of managing climate change risks through financial disclosure?
  • What actions can policymakers promote to encourage decarbonisation and a speed the transition to a low-carbon economy?

Podcast

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Financing a low-carbon economy

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Related content:

To learn about an energy supplier adopting a low-carbon strategy for 2030, read Statoil’s Climate Roadmap.

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Programme

17.00 – 17.30 Welcome of participants

17.30 – 18.45 Café Crossfire debate

18.45 – 19.15  End of debate and networking cocktail

Speakers

  • Ugo Bassi

    Director for Financial Markets at the European Commission Directorate General for Financial Stability and Financial Services
    Ugo Bassi is the Director of Financial Markets at the Directorate General for Financial Stability and Capital Markets at the European Commission, which is responsible for the Commission’s policies on banking and finance. Bassi has over 20 years of experience working for the Commission, notably as Head of Unit for Public Procurement, Asset Management and Director of Capital and Companies. Bassi started his career as a Referendaire at the European Court of Justice.

  • Ingrid Holmes

    Director at Third Generation Environmentalism (E3G) and Member of the EU High Level Group on Sustainable Finance
    Ingrid Holmes’ work focuses on how to better target financing for the low carbon transition in Europe as well as how to accelerate it by reforming capital markets. Prior to working for E3G, she worked for Climate Change Capital, a boutique investment bank specialising in low carbon investment, and as Energy and Environment Adviser in the UK Parliament and Science Policy Adviser at the Department for Environment. She also worked for nine years in science publishing and journalism, with her last role based in New York working for the Nature Publishing Group. Holmes has recently been appointed member of the European Union High Level Expert Group on Sustainable Finance.

  • Mark Lewis

    Managing Director, Head of European Utilities Research at Barclays Investment Bank and member of the Task Force on Climate-related Financial Disclosures (TCFD)
    Prior to his current position at Barclays, Mark Lewis was Chief Energy Economist at Kepler Cheuvreux and Managing Director and Global Head of Energy Research at Deutsche Bank, where he worked for 14 years. Lewis has nearly 20 years’ experience as a financial analyst covering energy and environmental markets, and has also worked as an academic at London University. His research on power, gas, and emissions was ranked Number 1 by Energy Risk magazine in its 2011, 2010, 2009 and 2008 surveys. He is currently an active member of the G20 industry-led Task Force on Climate-Related Financial Disclosure (TCFD).

  • Anders Marvik

    Vice President for EU Affairs at Statoil
    With more than 20 years of experience in the oil and gas industry, Anders Marvik is currently Vice President and Head of the Statoil EU Political Affairs Office. Prior to taking up this position, Marvik held several management positions within the company’s Corporate Strategy, Business Intelligence and Treasury departments. He has broad international experience, having worked and lived for extended periods in Norway, the UK, Belgium, and Venezuela. His areas of expertise are in strategy, business intelligence, political affairs, industry analysis, business development, finance, and full value chain knowledge and experience.

  • Michael Wilkins

    Managing Director, Global Head of Environmental and Climate Risk Research at S&P Global Ratings and Member of the Task Force on Climate-related Financial Disclosures (TCFD)
    Michael Wilkins’ experience at S&P Global Ratings includes seven years as Head of Infrastructure Finance Ratings, the analytical group within S&P Global Ratings which covers utilities, project finance, public-private partnerships and transportation in Europe, the Middle East and Africa. Prior to his current position, Wilkins worked for Water UK, the trade body representing the British water industry and was a journalist for various UK daily regional newspapers and global business publications. Wilkins is also a member of the G20 industry-led Task Force on Climate-Related Financial Disclosure (TCFD).

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